Crypto ICOs and tech IPOs are fueling the best gold rush since 2000
$107.6 billion
Crypto ICOs, tech IPOs, and VC cash are all playing a part in the biggest year of tech funding since 2000, with $107.6 billion already raised in 2018.
Published | Photo by AP Photo/Richard Drew
According to Pitchbook data, venture capital firms have invested roughly $67 billion globally so far this year, on pace to exceed the record high of $87 billion in 2016.
Dealogic notes tech IPOs raised $27 billion in the year’s first half, while CoinDesk reports ICOs already set a record for 2018, raising $13.6 billion from retail investors and trend-chasing VC firms.
Global funding of tech/internet companies
Amid this latest craze, valuations have skyrocketed for some startups. The optimism is not unfounded, as most of the global economy is growing solidly.
But in some regions, the last downturn—a big one, granted—was about a decade ago, which suggests some complacency may also be at play.
Global IPO value in first half of year
It’s not quite as impressive when adjusted for inflation: By current prices, IPOs raised $82 billion in the first half of 2000—three times more than the same period this year.
