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This year is a banner year for new tech and the big money is flowing into it.
We’ve had an extraordinary number of startups, from Google to Apple to Amazon. So many of them have raised over $1 billion, and in many cases, it’s coming from just a handful of people.
It’s a remarkable rise, as a new report from a major US research firm reveals.
A report by KPMG says that the amount of venture capital invested in new tech companies last year has been the highest since the early 1990s.
“The trend continued through the third quarter,” says KPMG chairman and CEO Stephen Friedman.
“It’s not just about the numbers on the first day, it’s about the numbers that are being raised, and the pace of investment.”
What is it about this year’s VC dollars that is particularly special?
“We’ve been tracking this for a number of years now, but that trend accelerated last year,” he says.
As the report explains, it can be done “in relatively short order”.
“It’s very unusual to have a significant, long term increase of such magnitude in a single year. It’s not a one-off thing.”
KPMG says the $1 billion level for all private tech funding is about double last year’s number, and is well above what it was at a similar stage a decade ago.
The numbers have been driven in part by major public partnerships, but also by small, privately-owned companies that can be led by a single person.
Facebook Twitter Pinterest KPMG says the number of venture capital investments has been the highest since the early 1990s. Photograph: Mark Lennihan/AP
The report says that in order for this year to continue, there is a real chance that there will now have been more venture money invested in the venture capital industry in the US than in any prior year.
“We’ve been tracking venture capital and technology innovation for a number of years, and it’s become pretty standard for the highest level of support to come from just a few large enterprises that have the capacity to bring that in
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