Financial markets began to show signs of normality in the first quarter of 2021, after a turbulent 2020. The pandemic caused a sharp correction in asset prices across the globe, with an equally steep recovery aided by unprecedented levels of government support. As the recovery has continued, a clear distinction has emerged between the winners and losers. Adoption of existing technological trends has been accelerated by the pandemic and investors are willing to bid up valuations of companies on the right side of this change – many of which are still in receipt of venture capital financing. As a result, venture capital deal value is soaring, reaching $126bn in Q1 2021, up 114% since the same period last year.

Read our latest private equity & venture capital industry update for a detailed look at fundraising, funds in market, investors, buyout and venture capital deals & exits, performance & dry powder, and secondaries in the first quarter of the year.