For the global VC industry, 2018 was a supergiant year. Crunchbase projects that 2018 deal and dollar volume surpassed even the high-water mark left by the dot-com deluge and the drought that followed.
As covered in Crunchbase News’s global VC report reviewing Q4 and the rest of 2018, projected deal volume rose by 32 percent and projected dollar volume jumped 55 percent since 2017. For all of 2018, Crunchbase projects that well over $300 billion was invested in equity funding rounds across all stages of the venture-backed company life cycle. (This figure includes an estimate of transactions that were finalized in 2018, but won’t be publicized or added to Crunchbase until later. More on how Crunchbase projects data can be found at the end of that report.)
Is the market mostly buoyed by the billions raised by the biggest private tech companies, or is a rising tide in this extended aquatic metaphor raising all ships? In other words, is the bulk of the capital going to only a handful of the largest rounds? That’s what the numbers show.
In the global VC pool, capital is definitely sloshing toward rounds totaling $100 million or more. In the chart below, you can see what percent of reported global VC dollar volume was raised in “supergiant” rounds versus deals of smaller size.
In the year, over 56 percent of worldwide dollar volume can be attributed to supergiant rounds. With 61 percent of reported capital coming from supergiants in the final quarter, Q4 2018 has the highest concentration of supergiant dollar volume of any single quarter on record.
Big money weighs on the market
Following that same theme, the calendar year 2018 is the most concentrated year on record. In the chart below, we show how much capital was raised in non-supergiant (<$100 million) venture rounds over the past decade. (It’s basically the bottom part of the first chart, with the data aggregated over a longer period of time.)
For the first time in at least a decade (and likely ever) supergiant, $100 million+ VC rounds accounted for a majority of reported capital raised. So in summary: Q4 2018 had the highest share of supergiant VC dollar volume on record, and 2018 was the most concentrated year on record.
On the one hand, the results are not surprising, considering that the biggest-ever VC round (a preposterously large $14 billion Series C raised by Ant Financial) and several rivals for that top spot were closed last year. That big round made a big splash. It was the year of multi-billion-dollar global growth funds, SoftBank and scooter CEOs worth supergiant sums, at least on paper. But was it good for the smaller players too?
Seed and early-stage deal and dollar volume were both up in 2018, but then again, so is everything toward the end of a bull market cycle. The question is, when the bottom falls out, between supergiant and more normal-sized rounds, which has the farthest to fall?
Hubble Snaps Stunning Pictures Of Colliding Galaxies
In its latest exploratory hunt covering the Arp-Madore territory, the Hubble telescope found something remarkable in the Arp-Madore 417-391 collision event. What is truly noteworthy is the intensity of the galactic interaction and the strong gravitational forces at play here. The pair of galaxies have contorted each other, a forming a ring-like structure, while their cores sit side by side. Personally, I think the cosmic duo looks more like a pair of wireless over-the-ear headphones like Sony’s acclaimed WH-1000 XM4 cans.
The formation of ring-like structures at a galactic scale, especially in the events of merger between two galaxies, is quite rare. According to estimates, there are only a few hundred documented in Earth’s cosmic neighborhood. A ring formation at such a massive scale is nothing short of a chance event, because the interacting galaxies have to collide at just the right angle and orientation to form such a structure (via LiveScience).
The ring’s outline is usually made up of young blue stars, serving somewhat like an elongated genesis chamber of stars. However, rings generated from galactic collisions are rather short-lived (on a cosmic time scale, that is), and usually lose their distinct structure a few hundred million years.
Today’s Wordle Answer #526 – November 27, 2022 Solution And Hints
The solution to today’s Wordle puzzle ( #526 – November 27, 2022) is “happy.” Its most popular meaning is to be glad or pleased, but the root word “hap” means chance or fortune, and that’s why the word “happy” is also used to mean lucky, fortunate or providential circumstances or unforeseen success (via Merriam-Webster).
We solved the puzzle in four tries today — the first two guesses, ounce and plait, were an attempt to eliminate all the vowels early on, which is our preferred Wordle-solving strategy. Those two whittled down the possible answers from 383 to just eight, and the third guess, debug, reduced that further to three. The word happy was our lucky fourth guess, and what made us even happier is that it took WordleBot the same number of tries to solve the puzzle. We hope you do it even faster, and if you’re looking for more puzzles to try your hand at, check out these other games like Wordle.
Orion Capsule Breaks Record Of Farthest Spacecraft Traveled From Earth
“It just so happened that with that really large orbit, high altitude above the moon, we were able to pass the Apollo 13 record,” Jim Geffre, Orion vehicle integration manager at NASA, said of the Orion’s record-breaking journey. On Monday, Nov. 28, Orion will reach a peak distance of 268,553 miles before the orbital manoeuvring system engine kicks in and propels it toward another close flyby with the Moon in the first week of December. Six days later, the vehicle is expected to return home.
According to NASA, the Orion is “built to take humans farther than they’ve ever gone before.” The Orion capsule has been co-engineered with Lockheed Martin, and it is touted to be the only vehicle capable of manned deep space mission and returning back to Earth at high speed from targets such as the Moon and beyond. With the Artemis project, NASA is actually aiming for the first crewed visit to the Mars, as well.
Capable of carrying four crew members, the capsule employs a total of 355,056 parts and can support missions lasting up to 21 days in its current state (via NASA). The capsule has systems for monitoring and maintaining aspects like humidity, carbon dioxide, oxygen, and radiation shielding, among other vital elements. Interestingly, the Orion’s base also features the world’s largest ablative heat shield that measures 16.5-feet in diameter and will protect the vehicle when it makes high-speed entry into Earth’s atmosphere.
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