German Kaplun and Alexey Shakhmatov - about the prospects of the global venture capital market
According to the report of Venture Pulse KPMG International and CB Insights , in the fourth quarter of 2015, the global volume of venture capital investment amounted to $ 27.2 billion in 1,742 transactions, which means a 30% drop from the previous quarter. Such a modest number of transactions was last recorded in the first quarter of 2013.
In total, in 2015, venture capital investment reached $ 128.5 billion, showing an increase of 44% compared with 2014, which, in turn, was 156% higher than in 2013 with an investment of $ 50.2 billion. Brian Hughes, KPMG's partner, believes that 2015 was a record year for venture capital firms, thanks to the first three quarters.
The current situation seems ambiguous at first glance.
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Megamozg combined the statements of two experts about the current state and prospects of the global venture capital market.
Alexey Shakhmatov , managing partner of the Emery capital fund:
• Increased competition among investors for promising projects worldwide.
• Active development of new start-up ecosystems (including crowdfunding platforms, acceleration programs) worldwide.
• Growth of estimates when investing in high-quality projects.
• In Russia - a modest number of quality investment projects with global focus and a strong team.
Herman Kaplun - managing partner of TMT Investments fund:
Life is cyclical. During the period of growth of the stock market, everyone wants only growth and it seems that this will be forever. In a period of high volatility, a fall in the stock market, and risks of a worsening economic situation, I don’t want growth, but project survival, and in the long run - dividends. Therefore, temporarily, I emphasize, temporarily, the priorities of most investors are changing. Estimates become lower, the desire for risk is less, I want projects with high revenues and margins, those who are able to survive on their own.
Alexey:
We consider the most promising areas to be focused on - mobile technologies, cloud technologies, 3D-industry (including virtual and augmented reality), financial technologies, breakthrough Hard + soft products, Internet advertising.
There are also several potentially promising sectors in which we are not yet present (little present), for example, the agricultural sector, medical technology, biotechnology, new energy.
Hermann:
Abbreviations in Groupon, Tinder, Twitter are not a sign of industry problems. This is a normal process. In the US, thousands of large companies, when simultaneous reductions will be in Facebook, Google and Amazon - then this will be serious. Ah, the shares of technology companies have fallen.
Look at the shares of metallurgical or oil companies and you will understand that hi-tech is doing well. Facebook 97, and the maximum was 109. Tragedy? I doubt it. Yes, Netflix and Tesla fall more - about a third of the cost. It is quite tolerable.
Alexey:
• In Russia - the orientation of start-ups on the real economy and the focus on self-sufficiency in the short term.
• In the world - continued growth in the PEVC market and exit numbers.
• Increased competition.
In addition, there will be a rapid growth of the Internet of Things segments, financial technologies and the 3D sector (including augmented and virtual reality technologies, 3D printing).
Hermann:
While there are simply misunderstandings related to slower growth in China and developing countries, misunderstandings with the new US president (perhaps more important than China), the risks of a new crisis (9 years have passed since the past, well, when already). All these questions will be solved soon (maximum a couple more years). The president will be elected, oil will stabilize at $ 35-55, stock markets will return to growth.
And when all problems are resolved, everything will return to normal and those who have not invested in a good project in a crisis will bite their elbows.
In total, in 2015, venture capital investment reached $ 128.5 billion, showing an increase of 44% compared with 2014, which, in turn, was 156% higher than in 2013 with an investment of $ 50.2 billion. Brian Hughes, KPMG's partner, believes that 2015 was a record year for venture capital firms, thanks to the first three quarters.
The current situation seems ambiguous at first glance.
')
Megamozg combined the statements of two experts about the current state and prospects of the global venture capital market.
On the status of the venture capital market in 2015
Alexey Shakhmatov , managing partner of the Emery capital fund:
• Increased competition among investors for promising projects worldwide.
• Active development of new start-up ecosystems (including crowdfunding platforms, acceleration programs) worldwide.
• Growth of estimates when investing in high-quality projects.
• In Russia - a modest number of quality investment projects with global focus and a strong team.
Herman Kaplun - managing partner of TMT Investments fund:
Life is cyclical. During the period of growth of the stock market, everyone wants only growth and it seems that this will be forever. In a period of high volatility, a fall in the stock market, and risks of a worsening economic situation, I don’t want growth, but project survival, and in the long run - dividends. Therefore, temporarily, I emphasize, temporarily, the priorities of most investors are changing. Estimates become lower, the desire for risk is less, I want projects with high revenues and margins, those who are able to survive on their own.
On the promising areas of investment and the situation in the industry
Alexey:
We consider the most promising areas to be focused on - mobile technologies, cloud technologies, 3D-industry (including virtual and augmented reality), financial technologies, breakthrough Hard + soft products, Internet advertising.
There are also several potentially promising sectors in which we are not yet present (little present), for example, the agricultural sector, medical technology, biotechnology, new energy.
Hermann:
Abbreviations in Groupon, Tinder, Twitter are not a sign of industry problems. This is a normal process. In the US, thousands of large companies, when simultaneous reductions will be in Facebook, Google and Amazon - then this will be serious. Ah, the shares of technology companies have fallen.
Look at the shares of metallurgical or oil companies and you will understand that hi-tech is doing well. Facebook 97, and the maximum was 109. Tragedy? I doubt it. Yes, Netflix and Tesla fall more - about a third of the cost. It is quite tolerable.
Forecasts for 2016
Alexey:
• In Russia - the orientation of start-ups on the real economy and the focus on self-sufficiency in the short term.
• In the world - continued growth in the PEVC market and exit numbers.
• Increased competition.
In addition, there will be a rapid growth of the Internet of Things segments, financial technologies and the 3D sector (including augmented and virtual reality technologies, 3D printing).
Hermann:
While there are simply misunderstandings related to slower growth in China and developing countries, misunderstandings with the new US president (perhaps more important than China), the risks of a new crisis (9 years have passed since the past, well, when already). All these questions will be solved soon (maximum a couple more years). The president will be elected, oil will stabilize at $ 35-55, stock markets will return to growth.
And when all problems are resolved, everything will return to normal and those who have not invested in a good project in a crisis will bite their elbows.
Source: https://habr.com/ru/post/298276/
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