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"The quarter's low fund-raising numbers are reflective of ongoing challenges within the venture capital exit markets," Mark Heesen, president of the National Venture Capital Association, said in a statement.
When matched with a comparable group of companies that didn't participate in accelerator programs, those that graduated from top programs saw an acceleration in reaching key milestones, such as time to raising venture capital, exit by acquisition, and gaining customer traction.
The average U.S. venture capital exit is nearly $200 million, versus $70 million for Europe.
In 2005, Skype was sold to eBay Inc for $3.1bn, the largest European venture capital exit to date.
Niklas has remained CEO of Skype through 2007, two years after achieving what is still the largest European venture capital exit to date, having sold to eBay for $3.1 billion.
Market value at the IPO is important because it is often a marker of the venture capital exit value, but it's also interesting to consider how these enriched companies compare to their efficient peers in the long term as public companies.
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Their database includes roughly 6,700 venture capital exits since 2003.
figures and the sale figures, this means about 33 percent of venture capital exits are in a position for the founders to earn a dime.
According to the data provided by Sand Hill, since 2003 only 6 percent of venture capital exits have been through an initial public offering.
Recently, however, China-based firms Baidu, Alibaba, and Tencent have either bought or invested in other internet-related companies, a trend similar to that in Silicon Valley where most venture capital exits are now via mergers or acquisitions.
Venture capital exits were a different story.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com