Highlights of the report include:
- The percentage of up rounds rose to over 82% of deals, a level not seen since 2006.
- Average valuations for Series A, B and D+ rounds reached levels not seen in the last eight years.
- A number of Q2 trends pointed to a move toward more company-favorable terms.
- The percentage of deals with pay-to-play provisions and the percentage of tranched deals decreased from the prior quarter, signaling investor confidence.