It might not be the best thing for San Francisco rents, but the venture-capital (VC) industry reasserted itself as a major force in the US economy again this year—putting lots of money to work, successfully exiting some earlier investments, and sparking talk of another bubble.
VC-backed IPOs have hit their highest level since 2000, according to Dealogic. While the biggest VC-backed deal of the year (in terms of both the amount of money raised, and its roader significance) was Twitter’s IPO, healthcare companies backed by venture capital actually raised more money as a whole on the public equity markets than technology companies did. There have been 43 US-listed VC-backed healthcare IPOs in 2013, raising a total of $3.6 billion. The biggest was the $192m debut in September by Ophthotech, which develops eye-disease treatments.
Read more: Quartz The 2013 US venture capital boom, in charts
The sun shines on the heartland of venture capital. Reuters/Robert Galbraith