Fenwick & West's latest survey on venture capital terms of 195 financings reflects continuing weakness in the backing of startups.
The weakening in venture valuations that began in the second half of 2015 continued in this year's second quarter.
"Valuation metrics have fallen from all-time highs in mid-2015 to now being generally flat with their 12-year average," said Fenwick & West's Barry Kramer and Khang Tran in their latest quarterly Silicon Valley Venture Capital Survey. Fenwick & West examined 195 venture financings, handled by a range of law firms, for companies based in Northern California.
