NEW YORK, July 22, 2020 /PRNewswire/ -- Global venture capital investment showed continued resilience in the second quarter of 2020, reaching $62.9 billion across 4,502 deals - almost equalling total investment from the first quarter of the year and only slightly off the pace seen in 2019's second quarter, which registered $69.8 billion invested, according to KPMG Private Enterprise's Venture Pulse report.
Venture investors continued to pour money into their existing portfolio– particularly late-stage companies. This focus on late-stage deals continued a trend toward investing in supposedly safer bets seen in the quarters prior to COVID-19. The top 10 deals globally accounted for well over $9 billion of investment. US autonomous driving company Waymo raised a $3 billion funding round in the quarter's largest deal, while China-based MGI Tech and Didi Bike both raised $1 billion rounds. Meanwhile, the number of early-stage deals, and first-time deals fell.