Large late-stage rounds, especially mega-rounds sized $100M and above, have transformed the investment landscape for VC-backed companies. Using CB Insights data, we analyzed median late-stage (and early-stage) deals by continent as seen below.
Median early-stage deal sizes
Median early-stage deal sizes were the largest in North America at approximately at $3M in Q3’15. That number is a 50% gain over Q3’14, which saw median early-stage deal sizes in North America at $2M.
Early-stage median deal sizes in Asia were at roughly $2.5M in Q3’15, which puts Asia ahead of Europe for the third quarter in a row. Finally, European early-stage deal median sizes were below $2M in Q3’15, as seen below.
Late-stage deal sizes
Median late-stage deal sizes were largest in Asia, where they reached roughly $100M in Q3’15, partly due to an increase in mega-round financings.
It’s worth noting that median sizes for Asian late-stage deals have been significantly larger than those in North America and Europe for the last 5 quarters.
Asia saw a spike in Q4’14 when the median late-stage deal size soared to $220M. That quarter included deals sized $600M+ to China-based car-hailing apps DiDi Dache and Kauidi Dache (these two later merged to form Didi Kuaidi).
Asian median deal sizes fell back below $100M in the first half of 2015.
North America and Europe consistently remained below $50M in late-stage median deal sizes, as seen below.
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