During the third and fourth quarters of 2018, corporate venture capital (CVC) firms and groups continued to make significant investments in promising startups and late-stage enterprises.
In these surveys, Morgan Lewis analyzes the key economic terms of the largest venture capital investments during the third and fourth quarters of 2018 in which CVC programs either led the round or participated as significant or anchor investors based upon publicly available filings. One particular trend we found in these surveys is that valuations and deal terms continued to favor the stronger companies, with an increase across the board toward more company-favorable terms for key metrics such as liquidation preference and protective provisions.