Lags in the collection of venture data occur due to how deals are reported to regulatory agencies and announced to the public, causing datasets to grow with new deals for some time after a quarter ends. In past editions of the PitchBook-NVCA Venture Monitor, we have noted that deal and exit counts were likely to shift upward over time. We have now added estimations to charts in order to more fully capture movements in the venture industry. In this research note, we explain and examine those estimations, including why they occur and how we use past data to estimate true deal and exit counts from the past four quarters.
