After establishing the top 15 funding rounds of 2017 yesterday, today we turn our attentions to the top 10 and how they compare so far to the top 10 rounds in H1 2014, 2015 and 2016 to get a sense of just how large these investments are compared to what’s come around this point in previous years.
We’ve established that there are a higher number of rounds above $10 million than there usually are approaching the half-point of the year, but although they are above $10 million are they typically as large as what’s come before?
- Firstly, in terms of the median amount of the 10 largest rounds, 2017 ($19.05M) currently has a higher median than 2014 ($14.4M) and comes in behind 2015 ($22.5M) and 2016 ($21.1M)
- 2017 already has as many $50M+ rounds as 2016 and 2014, although 2015 had three at this point.
- 2017 already has as many $20M+ rounds as 2016 did, more than 2014 but less than 2015.
- Sweden’s dominance has never been as strong, representing 9 of the 10 in 2017, compared to 3 in 2016, 5 in 2015 and 7 in 2014.
With 6 weeks left of H1 it looks like our assumption that more capital is being invested at the later stages is correct. We had already established that the number of funding rounds above $10 million were up, however we were yet to get a true sense of the size of these rounds until now. What’s clear is that with H1 2017 already shaping up as well as H1 2016 (although still a little bit behind 2015), if we see just one or two more big funding announcements before the end of June, then 2017 will be WELL on course to be the strongest year yet in the Nordics for later-stage larger rounds.