UK places second in 2016 global tech exit rankings
The UK has maintained its strong position – behind only the US – in terms of the number of exits that have been completed by its tech companies in 2016, according to the CB Insights ‘2016 Global Tech Exits Report‘ released last week. European countries, including Germany (ranked 5th), France (6th), Sweden (8th) and the Netherlands (9th) among others, made up more than half of the top 20.
While they accounted for the majority of exits in 2016, Q4 saw internet exits reach a 5-quarter low at 46% versus other tech sectors. The mobile and computer hardware sector, meanwhile, grew its share of global tech exits from 15% in the first two quarters of 2016 to 19% in Q4. Consumer products and services exits represented the smallest share, hovering around 1% of exits.
According to the report, only 32% of companies that exited in 2016 had raised later-stage funding (including venture capital [VC], private equity and growth equity) at the time of exit.
It was also revealed that 58% of the VC-backed companies had raised less than $10m before exit.
To find out more including which exits were valued highest and which companies were the most active acquirers, go to cbinsights.com/research-tech-exits-2016-report and download the full report.