China is home to the top 5 most highly valued unicorns outside the US.

The global unicorn club is comprised of 189 private companies that are each valued at $1B+ as of 4/10/2017. Collectively, this cohort of the world’s most valuable private enterprises is worth approximately $659B. The lion’s share of that value is held by companies that are located in the US. In fact, 52% of the world’s unicorn companies are located in the US, and US unicorns comprise 53% of the cumulative valuation of the global unicorn club.

However, unicorns that are located outside of the US have been proliferating in recent years: Thirty-seven percent of all companies (current and past unicorns) that achieved a $1B+ valuation in 2014 were based outside the US. The following year, 53% of all the companies that reached unicorn status that year were based outside of the US. In 2016, that number increased again to 58%. So far in 2017, there have been 11 companies added to the global unicorn club; 8 are based outside of the US.

Using CB Insights’ database we charted the share of unicorns that have been added to the club each year since 2013 by location (US vs. non-US). We also mapped the locations of current private companies valued at $1B+ that are based outside of the US. Below the map, you can see a list of all the non-US unicorns, select investors, and the date each reached unicorn status.

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International unicorns rising 

In 2013, over 70% of the companies that achieved unicorn status that year were US-based. Each year since 2013, the share of new US-based unicorns added to the global unicorn club has gone down. In 2016, 42% of the companies added to the club were US-based vs. 58% from outside the US.

The 8 non-US based unicorns added to the club in 2017 so far, include: Avaloq Group (Switzerland), ReNew Power Ventures (India), BrewDog (United Kingdom) and the Chinese companies: Toutiao, NIO, Ofo, URWork, and Zhihu.

annual share of unicorns by location chart 7


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The international unicorn club

China has far and away the most private companies valued at $1B+ outside of the US, at 46 total. Rounding out the top three most unicorn-rich countries are India and the UK, respectively.

At present, there are two unicorns in Africa: Africa Internet Group and Promasidor Holdings. Two in South America: LifeMiles and Decolar, and three in the Middle East: ironSource and Infinidat in Israel, and Careem in the United Arab Emirates.

The most highly-valued private company outside of the US is the Chinese electronics company Xiaomi. In fact, the top five most highly valued private companies outside of the US are all based in China. After Xiaomi, those companies are: Didi Chuxing, China Internet Plus (Meituan Dianping), Lu.com, and Toutiao, respectively.

Outside of the US and China, the most valuable private companies are the Indian e-commerce platform Flipkart, followed by Spotify in Sweden, and Snapdeal in India.

Click on the map to enlarge.

intl unicorns body image final 1

The complete list of international unicorns:

The International Unicorn Club: 91 Private Companies Outside the US Valued at $1B+ (as of 4/11/2017)
Company Date Reached $1B+ Valuation Select Investors Country
Decolar 3/10/2015 Blum Capital Partners LP, Tiger Global Management, Sonae.com Ventures Argentina
Kik Interactive 8/18/2015 Millennium Technology Value Partners, Spark Capital, Union Square Ventures Canada
Kuaishou 1/1/2015 Sequoia Capital China, China Media Capital, DCM Ventures China
NIO 3/15/2017 Lenovo Ventures Group, Temasek Holdings, Tencent Holdings China
Toutiao 4/7/2017 Sequoia Capital China, Source Code Capital, SIG Asia Investments China
51Xinyongka 9/21/2016 HgCapital, Meridian Capital, JD.com China
Aiwujiwu 5/6/2015 Temasek Holdings, GGV Capital, Hillhouse Capital Management China
Apus Group 1/16/2015 Redpoint Ventures, Qiming Venture Partners, Northern Light Venture Capital China
BeiBei 1/22/2015 IDG Capital Partners, Banyan Capital, Capital Today China
China Internet Plus 12/22/2015 DST Global, Trustbridge Partners, Baillie Gifford & Co. China
China Rapid Finance 7/16/2015 UBS, Hewlett-Packard Ventures, Northwater Capital Management China
Dada 12/31/2015 Sequoia Capital China, DST Global, Walmart China
Didi Chuxing 3/31/2015 Apple, China Life Insurance, Tencent Holdings China
DJI Innovations 11/24/2014 Accel Partners, Sequoia Capital China China
Ele.me 8/27/2015 Dianping, Alibaba Group, CITIC Capital Private Equity China
Fanli 4/20/2015 Steamboat Ventures, SIG Asia Investments, Qiming Venture Partners China
Guahao Technology Co. 9/22/2015 China Development Industrial Bank, Tencent Holdings, Morningside Ventures China
Guazi 3/12/2016 Sequoia Capital China, GX Capital, Matrix Partners China China
Homelink 4/7/2016 Baidu, Source Code Capital, Sunac China Holdings China
HuiMin.cn 9/5/2016 China Innovation Investment, Western Capital Management, Shenzhen Fortune Venture Capital China
Huochebang 12/22/2016 Tencent Holdings, DCM Ventures, Eastern Bell Venture Capital China
iCarbonX 4/12/2016 Tencent Holdings, China Bridge Capital , Vcanbio China
iTutorGroup 11/18/2015 SBI Group, GIC, Silverlink Capital China
Jiuxian 7/30/2015 Sequoia Capital China, China Merchants Bank, China Minsheng Banking Corp. China
Koudai Gouwu 10/23/2014 Warburg Pincus, Tiger Global Management, Tencent Holdings China
Lakala 6/23/2015 China Renaissance Capital Investment, China Continent Property & Casualty Insurance, Legend Capital China
Liepin 6/28/2016 Matrix Partners China, China Mobile, Warburg Pincus China
Lu.com 12/26/2014 Guotai Junan Securities, CDH Investments, China International Capital Corporation China
Meizu Technology 7/23/2014 Alibaba Group, Indiegogo, Telling Telecommunication Holding Co. China
Mia.com 9/8/2015 K2 Ventures, Baidu, China Renaissance Capital Investment China
Mofang Gongyu 4/13/2016 Warburg Pincus, Aviation Industry Corporation of China, DT Capital Partners China
Mogujie 6/6/2014 Meilishuo, IDG Capital Partners, Trustbridge Partners China
Ofo 3/1/2017 Matrix Partners China, CITIC Capital Private Equity, Vision Capital China
Panshi 5/5/2015 JD Capital Management, Fang Fund Partners, WI Harper Group China
Rong360 10/12/2015 Sequoia Capital China, Lightspeed China Partners, Yunfeng Capital China
Royole Corporation 11/4/2016 IDG Capital Partners, Warmsun Holding, AlphaWealth China
Trendy Group International 2/13/2012 L Capital Partners China
TuJia 6/17/2015 Lightspeed China Partners, GGV Capital, China Broadband Capital China
UBTECH Robotics 7/25/2016 Goldstone Investment, Qiming Venture Partners, CDH Investments China
URWork 1/18/2017 Zhongrong International Trust, Tianhong Asset Management, Zhenge Fund China
VANCL 12/14/2010 IDG Capital Partners, Ceyuan Ventures, International Data Group China
Weiying Technology 11/17/2015 Tencent Holdings, Wanda Group, iDreamSky Technology China
Xiaohongshu 3/31/2016 GGV Capital, Hudson & Marshall, ZhenFund China
Xiaomi 12/21/2011 Temasek Holdings, Industrial and Commercial Bank of China, Qiming Venture Partners China
Xuanyixia 11/24/2015 Kleiner Perkins Caufield & Byers, Redpoint Ventures, YG Entertainment China
ZhangYue 1/4/2016 Guo Jin Capital, Alpha Animation & Culture China
Zhihu 1/12/2017 Qiming Venture Partners, Capital Today, SAIF Partners China
Zhong An Insurance 6/11/2015 Morgan Stanley, SAIF Partners, Keywise Capital China
LifeMiles 7/13/2015 Advent International Colombia
Avast Software 2/5/2014 Summit Partners, Kickstarter, CVC Capital Partners Czech Republic
BlaBlaCar 9/16/2015 Lead Edge Capital, Accel Partners, Index Ventures France
OVH 8/15/2016 Kohlberg Kravis Roberts & Co., BNP Paribas, HSBC France
Auto1 Group 7/6/2015  DST Global, Rocket Internet, Baillie Gifford & Co. Germany
CureVac 3/5/2015 NorthView Ventures, Bill & Melinda Gates Foundation, Sigma Group Germany
Delivery Hero 9/3/2014 WestTech Ventures, Insight Venture Partners, Kite Ventures Germany
HelloFresh 9/17/2015 Rocket Internet, Baillie Gifford & Co., Phenomen Ventures Germany
Flipkart 8/6/2012 Naspers, Morgan Stanley, GIC India
Hike 8/16/2016 Tencent Holdings, SoftBank Group, Tiger Global Management India
InMobi 12/2/2014 SoftBank Group, Kleiner Perkins Caufield & Byers, Hercules Capital India
Olacabs 10/27/2014 ABG Capital, DST Global, Matrix Partners India India
One97 Communications 5/12/2015 Ant Financial Services Group, Silicon Valley Bank, IF Partners India
ReNew Power Ventures 2/14/2017 Abu Dhabi Investment Authority, Overseas Private Investment Corporation, JERA India
ShopClues 1/12/2016 Helion Venture Partners, Tiger Global Management, Nexus Venture Partners India
Snapdeal 5/21/2014 Foxconn Technology Company, eBay, Nexus Venture Partners India
Zomato Media 4/10/2015 Info Edge, VY Capital, Sequoia Capital India India
Go-JEK 8/4/2016 DST Global, Sequoia Capital India, Capital Group Companies Indonesia
Infinidat 4/29/2015 TPG Growth, Undisclosed Investors Israel
ironSource 8/11/2014 Disrupt-ive, Access Industries, Clal Industries and Investments Israel
Mercari 3/2/2016 Global Brain Corporation, GMO VenturePartners, Mitsui & Co. Japan
Global Fashion Group 4/8/2015 Tengelmann Ventures, Rocket Internet, Access Industries Luxembourg
Adyen 12/16/2014 Temasek Holdings, Felicis Ventures, ICONIQ Capital Netherlands
Africa Internet Group 2/8/2016 Goldman Sachs, Rocket Internet, Orange Nigeria
Garena Online 3/3/2015 Keytone Ventures, SeaTown Holdings International, GDP Venture Singapore
Grab 12/4/2014 GGV Capital, Honda, Vertex Venture Holdings Singapore
Promasidor Holdings 11/8/2016 Ajinomoto, International Finance Corporation South Africa
CJ Games 3/26/2014 Tencent Holdings South Korea
Coupang 5/28/2014 SoftBank Group, Sequoia Capital, BlackRock South Korea
Yello Mobile 11/11/2014 Formation 8, SBI Investment, Q Capital Partners South Korea
Klarna 12/12/2011 JFT Holdings, General Atlantic, Sequoia Capital Sweden
Spotify 6/17/2011 Accel Partners, Goldman Sachs, Halcyon Capital Sweden
Avaloq Group 3/22/2017 Warburg Pincus Switzerland
MindMaze 1/28/2016 Hinduja Group, Undisclosed Investors, Undisclosed Angel Investors Switzerland
Careem Networks  12/18/2016 BECO Capital, Wamda Capital, Al Tayyar Travel Group United Arab Emirates
benevolent.ai 6/2/2015 Upsher-Smith Laboratories, Woodford Investment Managment, Lansdowne Partners United Kingdom
BrewDog 4/10/2017 TSG Consumer Partners, Undisclosed Angel Investors, Crowdcube United Kingdom
FarFetch 3/4/2015 Advent Venture Partners, Conde Nast, e.ventures United Kingdom
Funding Circle 4/23/2015 Accel Partners, Temasek Holdings, Ribbit Capital United Kingdom
Global Switch 12/22/2016 Aviation Industry Corporation of China, Essence Financial, Ping An Insurance United Kingdom
Shazam 1/20/2015 Acacia Capital Partners, Buran Venture Capital, America Movil United Kingdom
TransferWise 1/26/2015 IA Ventures, Index Ventures, Seedcamp United Kingdom
Oxford Nanopore Technologies 5/6/2012 IP Group, Woodford Investment Managment, Illumina United Kingdom

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