- In March last year, venture capital firm Sequoia described the coronavirus as the “black swan of 2020.”
- Fast forward to July 2021, and tech investors are writing bigger checks than ever before.
- “This feels a lot like 1999 to me,” Hussein Kanji, a partner at Hoxton Ventures, told CNBC.
In March last year, a top venture capital firm described Covid-19 as the “black swan of 2020.”
“Private financings could soften significantly, as happened in 2001 and 2009,” Sequoia Capital told portfolio company founders and CEOs in a memo reminiscent of its “R.I.P. Good Times” presentation in the 2008 crisis.
Fast forward to July 2021, and tech investors are writing bigger checks than ever. According to CB Insights, start-ups have raised $292.4 billion globally so far this year, on track to beat the $302.6 billion raised throughout 2020.