venture capital funding

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PricewaterhouseCoopers/National Venture Capital Association MoneyTree™ Report, Data: Thomson Reuters Total U.S. Investments by Year Q1 1995 - Q1 2014 Quarter 1995 1996 1997 1998 1999 # of Deals Amount Invested # of Deals Amount Invested # of Deals Amount Invested # of Deals Amount Invested # of Deals Amount Invested # of Deals 1 503 1,690,040,500 586 2,438,764,900 775 3,127,555,200 871 4,199,545,200 935 6,648,523,700 2,161 2 466 2,546,374,500 673 3,109,011,000 778 3,689,949,400 912 5,782,228,400 1,331 11,318,053,400 2,142 3 434 1,709,754,500 603 2,604,614,300 763 3,779,459,000 931 5,425,138,700 1,446 13,604,385,000 1,959 4 495 2,075,353,900 776 3,208,942,800 918 4,500,180,000 1,029 6,162,390,000 1,891 23,337,322,500 1,779 Grand Tota 1,898 8,021,523,400 2,638 11,361,333,000 3,234 15,097,143,600 3,743 21,569,302,300 5,603 54,908,284,600 8,041 Source: PricewaterhouseCoopers/National Venture Capital Association MoneyTree™ Report, Data: Thomson Reuters

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Venture capital investment stats from PwC, the NVCA and Thomson Reuters

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Total US by Qtr & Year - Table PricewaterhouseCoopers/National Venture Capital AssociationMoneyTree Report, Data: Thomson ReutersTotal U.S. Investments by Year Q1 1995 - Q1 2014Quarter19951996199719981999200020012002200320042005200620072008200920102011201220132014# of DealsAmount Invested# of DealsAmount Invested# of DealsAmount Invested# of DealsAmount Invested# of DealsAmount Invested# of DealsAmount Invested# of DealsAmount Invested# of DealsAmount Invested# of DealsAmount Invested# of DealsAmount Invested# of DealsAmount Invested# of DealsAmount Invested# of DealsAmount Invested# of DealsAmount Invested# of DealsAmount Invested# of DealsAmount Invested# of DealsAmount InvestedDealsAmount InvestedDealsAmount InvestedDealsAmount Invested15031,690,040,5005862,438,764,9007753,127,555,2008714,199,545,2009356,648,523,7002,16128,429,315,9001,32113,069,182,5008667,036,497,5007234,392,277,8007425,391,592,4007625,222,331,5009056,634,087,7009087,469,066,8001,0618,111,459,6006803,857,950,1008275,115,359,6009066,511,854,1008856,337,823,0009166,014,463,0009519,468,943,00024662,546,374,5006733,109,011,0007783,689,949,4009125,782,228,4001,33111,318,053,4002,14228,006,138,4001,23911,507,360,8008806,112,888,5007574,989,387,4008796,321,579,5008626,447,057,3001,0077,414,652,6001,1187,858,088,5001,1068,007,864,0007645,114,796,2001,0247,135,033,6001,0888,212,564,0009887,411,988,1009917,156,955,30034341,709,754,5006032,604,614,3007633,779,459,0009315,425,138,7001,44613,604,385,0001,95926,622,918,2001,0338,245,747,7007094,471,427,2007324,594,601,9007235,045,843,0008096,063,227,1009526,850,042,4001,0468,200,193,5001,0477,674,538,2007675,425,464,8008905,454,109,9001,0207,564,520,9009466,657,019,4001,0587,967,878,40044952,075,353,9007763,208,942,8009184,500,180,0001,0296,162,390,0001,89123,337,322,5001,77922,060,521,8001,0008,144,692,3007534,570,785,1008165,649,672,0008886,054,807,9008645,820,971,8001,0186,724,972,2001,1588,475,706,7009676,460,988,7009455,937,879,0009125,693,184,2001,0007,475,319,3001,0586,978,207,3001,1128,441,060,400Grand Total1,8988,021,523,4002,63811,361,333,0003,23415,097,143,6003,74321,569,302,3005,60354,908,284,6008,041105,118,894,3004,59340,966,983,3003,20822,191,598,3003,02819,625,939,1003,23222,813,822,8003,29723,553,587,7003,88227,623,754,9004,23032,003,055,5004,18130,254,850,5003,15620,336,090,1003,65323,397,687,3004,01429,764,258,3003,87727,385,037,8004,07729,580,357,1009519,468,943,000Source: PricewaterhouseCoopers/National Venture Capital Association MoneyTree Report, Data: Thomson Reuters

&C&"Times New Roman,Regular"&12PricewaterhouseCoopers/National Venture Capital Association MoneyTree Report, Data: Thomson Reuters&L&"Times New Roman,Regular"&10Source: PricewaterhouseCoopers/National Venture Capital Association MoneyTree Report, Data: Thomson Reuters&P

by Stage of Dev - Table 1PricewaterhouseCoopers/National Venture Capital AssociationMoneyTree Report, Data: Thomson ReutersInvestments by Stage of Development Q1 1995 - Q1 2014Amount InvestedStage of Development19951996199719981999200020012002200320042005200620072008200920102011201220132014Qtr 1Qtr 2Qtr 3Qtr 41995 TotalQtr 1Qtr 2Qtr 3Qtr 41996 TotalQtr 1Qtr 2Qtr 3Qtr 41997 TotalQtr 1Qtr 2Qtr 3Qtr 41998 TotalQtr 1Qtr 2Qtr 3Qtr 41999 TotalQtr 1Qtr 2Qtr 3Qtr 42000 TotalQtr 1Qtr 2Qtr 3Qtr 42001 TotalQtr 1Qtr 2Qtr 3Qtr 42002 TotalQtr 1Qtr 2Qtr 3Qtr 42003 TotalQtr 1Qtr 2Qtr 3Qtr 42004 TotalQtr 1Qtr 2Qtr 3Qtr 42005 TotalQtr 1Qtr 2Qtr 3Qtr 42006 TotalQtr 1Qtr 2Qtr 3Qtr 42007 TotalQtr 1Qtr 2Qtr 3Qtr 42008 TotalQtr 1Qtr 2Qtr 3Qtr 42009 TotalQtr 1Qtr 2Qtr 3Qtr 42010 TotalQtr 1Qtr 2Qtr 3Qtr 42011 TotalQtr 1Qtr 2Qtr 3Qtr 42012 TotalQtr 1Qtr 2Qtr 3Qtr 42013 TotalQtr 12014 TotalSeed Stage$316,792,600$396,604,500$229,865,000$329,758,500$1,273,020,600$329,994,900$427,946,600$200,618,600$316,454,900$1,275,015,000$392,892,900$330,828,800$323,395,300$319,514,100$1,366,631,100$405,382,500$426,424,500$459,900,600$477,608,200$1,769,315,800$591,538,500$799,681,200$990,087,300$1,236,526,000$3,617,833,000$808,569,400$984,135,300$870,898,600$486,770,300$3,150,373,600$256,618,000$265,640,000$141,832,700$152,718,800$816,809,500$76,447,000$93,978,200$84,173,000$86,078,200$340,676,400$83,306,000$95,323,000$100,280,200$85,990,300$364,899,500$104,750,100$124,314,200$118,122,400$169,724,000$516,910,700$139,337,900$529,394,500$165,001,600$162,237,300$995,971,300$249,242,100$367,593,000$372,050,400$347,544,400$1,336,429,900$315,840,600$500,047,000$462,431,600$558,672,900$1,836,992,100$460,251,400$528,295,500$615,769,200$377,854,100$1,982,170,200$319,685,100$536,035,300$510,975,300$368,495,100$1,735,190,800$416,699,200$689,003,900$338,685,600$231,932,900$1,676,321,600$219,552,900$424,358,100$223,553,700$208,139,900$1,075,604,600$187,403,200$287,262,600$179,345,200$187,203,500$841,214,500$209,749,800$227,917,100$192,195,000$346,996,000$976,857,900$124,877,800$124,877,800Early Stage$408,809,000$393,640,100$370,933,200$563,779,400$1,737,161,700$608,918,100$712,888,500$573,566,400$754,119,700$2,649,492,700$773,491,400$846,833,700$761,303,700$1,074,718,700$3,456,347,500$1,164,656,100$1,014,452,100$1,304,595,400$2,008,867,100$5,492,570,700$1,301,988,900$2,026,798,100$2,663,290,400$5,489,939,500$11,482,016,900$7,137,452,800$6,937,893,700$5,903,751,500$5,313,527,000$25,292,625,000$3,447,662,900$2,104,498,600$1,720,171,300$1,318,935,000$8,591,267,800$1,209,517,600$1,138,047,100$829,054,100$804,512,700$3,981,131,500$676,222,000$1,011,503,200$806,802,000$1,087,696,300$3,582,223,500$904,948,400$1,030,331,200$1,028,533,000$1,076,982,600$4,040,795,200$907,815,800$992,914,500$1,186,152,800$970,990,500$4,057,873,600$930,635,200$1,016,409,500$1,143,133,800$1,674,458,500$4,764,637,000$1,341,074,600$1,706,437,700$1,259,795,200$1,780,006,100$6,087,313,600$1,402,368,900$1,571,447,700$1,391,204,400$1,533,636,000$5,898,657,000$768,224,400$1,178,489,900$1,240,736,100$1,754,485,900$4,941,936,300$1,152,660,000$1,732,416,300$1,457,305,800$1,574,454,300$5,916,836,400$1,854,464,100$2,321,205,900$2,262,327,500$2,521,611,300$8,959,608,800$1,957,393,800$2,178,811,600$1,959,351,400$2,240,519,800$8,336,076,600$1,554,386,200$2,570,210,400$2,883,958,900$2,968,630,400$9,977,185,900$2,885,074,000$2,885,074,000Expansion Stage$619,987,400$1,325,661,400$798,369,700$815,673,100$3,559,691,600$1,151,869,400$1,506,830,500$1,283,969,600$1,567,292,400$5,509,961,900$1,354,441,100$1,960,678,200$1,995,643,600$2,301,719,000$7,612,481,900$1,754,945,400$3,367,786,700$2,705,663,900$2,530,830,300$10,359,226,300$3,134,798,600$5,487,383,900$7,325,892,800$13,358,765,500$29,306,840,800$16,100,422,900$15,726,932,100$15,265,414,000$11,966,191,000$59,058,960,000$6,905,347,100$6,622,081,900$4,589,227,700$4,782,536,800$22,899,193,500$3,804,826,600$3,535,284,600$2,455,554,300$2,320,766,800$12,116,432,300$2,472,529,800$2,507,960,200$2,165,505,900$2,623,339,000$9,769,334,900$2,066,818,800$2,680,005,500$2,035,102,900$2,261,714,800$9,043,642,000$2,092,866,000$2,338,903,300$1,759,553,600$2,333,200,300$8,524,523,200$2,594,247,200$3,246,530,200$2,863,098,300$2,447,974,300$11,151,850,000$2,641,752,200$2,335,598,600$3,101,969,300$2,986,361,200$11,065,681,300$3,412,884,100$2,660,667,600$2,540,685,300$2,346,425,100$10,960,662,100$1,242,963,700$1,779,242,000$1,829,005,300$1,998,884,500$6,850,095,500$1,840,152,100$2,784,286,600$1,670,185,400$2,427,974,500$8,722,598,600$2,201,814,600$2,460,363,000$2,573,884,000$2,597,866,600$9,833,928,200$1,813,201,200$2,773,037,100$2,553,141,100$2,305,194,200$9,444,573,600$2,064,906,900$2,216,739,700$2,535,290,300$2,913,687,600$9,730,624,500$3,913,128,300$3,913,128,300Later Stage$344,451,500$430,468,500$310,586,600$366,142,900$1,451,649,500$347,982,500$461,345,400$546,459,700$571,075,800$1,926,863,400$606,729,800$551,608,700$699,116,400$804,228,200$2,661,683,100$874,561,200$973,565,100$954,978,800$1,145,084,400$3,948,189,500$1,620,197,700$3,004,190,200$2,625,114,500$3,252,091,500$10,501,593,900$4,382,870,800$4,357,177,300$4,582,854,100$4,294,033,500$17,616,935,700$2,459,554,500$2,515,140,300$1,794,516,000$1,890,501,700$8,659,712,500$1,945,706,300$1,345,578,600$1,102,645,800$1,359,427,400$5,753,358,100$1,160,220,000$1,374,601,000$1,522,013,800$1,852,646,400$5,909,481,200$2,315,075,100$2,486,928,600$1,864,084,700$2,546,386,500$9,212,474,900$2,082,311,800$2,585,845,000$2,952,519,100$2,354,543,700$9,975,219,600$2,859,963,200$2,784,119,900$2,471,759,900$2,254,995,000$10,370,838,000$3,170,399,400$3,316,005,200$3,375,997,400$3,150,666,500$13,013,068,500$2,835,955,200$3,247,453,200$3,126,879,300$2,203,073,500$11,413,361,200$1,527,076,900$1,621,029,000$1,844,748,100$1,816,013,500$6,808,867,500$1,705,848,300$1,929,326,800$1,987,933,100$1,458,822,500$7,081,930,700$2,236,022,500$3,006,637,000$2,504,755,700$2,147,701,500$9,895,116,700$2,379,824,800$2,172,876,800$1,965,181,700$2,245,289,800$8,763,173,100$2,185,420,100$2,142,088,100$2,356,434,200$2,211,746,400$8,895,688,800$2,545,862,900$2,545,862,900Grand Total$1,690,040,500$2,546,374,500$1,709,754,500$2,075,353,900$8,021,523,400$2,438,764,900$3,109,011,000$2,604,614,300$3,208,942,800$11,361,333,000$3,127,555,200$3,689,949,400$3,779,459,000$4,500,180,000$15,097,143,600$4,199,545,200$5,782,228,400$5,425,138,700$6,162,390,000$21,569,302,300$6,648,523,700$11,318,053,400$13,604,385,000$23,337,322,500$54,908,284,600$28,429,315,900$28,006,138,400$26,622,918,200$22,060,521,800$105,118,894,300$13,069,182,500$11,507,360,800$8,245,747,700$8,144,692,300$40,966,983,300$7,036,497,500$6,112,888,500$4,471,427,200$4,570,785,100$22,191,598,300$4,392,277,800$4,989,387,400$4,594,601,900$5,649,672,000$19,625,939,100$5,391,592,400$6,321,579,500$5,045,843,000$6,054,807,900$22,813,822,800$5,222,331,500$6,447,057,300$6,063,227,100$5,820,971,800$23,553,587,700$6,634,087,700$7,414,652,600$6,850,042,400$6,724,972,200$27,623,754,900$7,469,066,800$7,858,088,500$8,200,193,500$8,475,706,700$32,003,055,500$8,111,459,600$8,007,864,000$7,674,538,200$6,460,988,700$30,254,850,500$3,857,950,100$5,114,796,200$5,425,464,800$5,937,879,000$20,336,090,100$5,115,359,600$7,135,033,600$5,454,109,900$5,693,184,200$23,397,687,300$6,511,854,100$8,212,564,000$7,564,520,900$7,475,319,300$29,764,258,300$6,337,823,000$7,411,988,100$6,657,019,400$6,978,207,300$27,385,037,800$6,014,463,000$7,156,955,300$7,967,878,400$8,441,060,400$29,580,357,100$9,468,943,000$9,468,943,000Number of DealsStage of Development19951996199719981999200020012002200320042005200620072008200920102011201220132014Qtr 1Qtr 2Qtr 3Qtr 41995 TotalQtr 1Qtr 2Qtr 3Qtr 41996 TotalQtr 1Qtr 2Qtr 3Qtr 41997 TotalQtr 1Qtr 2Qtr 3Qtr 41998 TotalQtr 1Qtr 2Qtr 3Qtr 41999 TotalQtr 1Qtr 2Qtr 3Qtr 42000 TotalQtr 1Qtr 2Qtr 3Qtr 42001 TotalQtr 1Qtr 2Qtr 3Qtr 42002 TotalQtr 1Qtr 2Qtr 3Qtr 42003 TotalQtr 1Qtr 2Qtr 3Qtr 42004 TotalQtr 1Qtr 2Qtr 3Qtr 42005 TotalQtr 1Qtr 2Qtr 3Qtr 42006 TotalQtr 1Qtr 2Qtr 3Qtr 42007 TotalQtr 1Qtr 2Qtr 3Qtr 42008 TotalQtr 1Qtr 2Qtr 3Qtr 42009 TotalQtr 1Qtr 2Qtr 3Qtr 42010 TotalQtr 1Qtr 2Qtr 3Qtr 42011 TotalQtr 1Qtr 2Qtr 3Qtr 42012 TotalQtr 1Qtr 2Qtr 3Qtr 42013 TotalQtr 12014 TotalSeed Stage125959511643113013997137503161120121140542153162164193672166211250184811197197172139705807469592824754404118257614456218467545682345169687626483931231003998914113716152813613315711253870879911837493120100974109312911311044565897271297544755692254141Early Stage1301371171365201492051742257532022082292598982422212473161,0262463794506621,7377647936796162,8524363382712531,2982472441941958801872161832158012082382212379042122182132128552052412343201,0002573292562941,1362713052872911,1541952122493259812723613183371,2883544004124461,6123594464275071,7394205175725482,057451451Expansion Stage1871781631767042352462463171,0443093623214121,4043674084053941,5743825665929002,4401,0089799008133,7006496705455282,3924104453453791,5793463193363521,3532813492623101,2022742922433041,1133293613453461,3812753193173591,2703433312802841,2381862212192688942533042422781,0772222792812461,0282262572542589952392322452841,000274274Later Stage615659672437283869733810388921073901091211151264711411751541456151921732082117841561571481606211621371301385671331611691936562072171952738922252832852721,0652883122502521,1022873293363441,2963113373232801,251229244200234907209239230200878237280214198929235196193222846203195186211795185185Grand Total5034664344951,8985866736037762,6387757787639183,2348719129311,0293,7439351,3311,4461,8915,6032,1612,1421,9591,7798,0411,3211,2391,0331,0004,5938668807097533,2087237577328163,0287428797238883,2327628628098643,2979051,0079521,0183,8829081,1181,0461,1584,2301,0611,1061,0479674,1816807647679453,1568271,0248909123,6539061,0881,0201,0004,0148859889461,0583,8779169911,0581,1124,077951951Source: PricewaterhouseCoopers/National Venture Capital Association MoneyTree Report, Data: Thomson Reuters

&C&"Times New Roman,Regular"&12PricewaterhouseCoopers/National Venture Capital Association MoneyTree Report, Data: Thomson Reuters&L&"Times New Roman,Regular"&10Source: PricewaterhouseCoopers/National Venture Capital Association MoneyTree Report, Data: Thomson Reuters&P

by Industry - Table 1PricewaterhouseCoopers/National Venture Capital AssociationMoneyTree Report, Data: Thomson ReutersInvestments by Industry Q1 1995 - Q1 2014Amount InvestedIndustry19951996199719981999200020012002200320042005200620072008200920102011201220132014Qtr 1Qtr 2Qtr 3Qtr 41995 TotalQtr 1Qtr 2Qtr 3Qtr 41996 TotalQtr 1Qtr 2Qtr 3Qtr 41997 TotalQtr 1Qtr 2Qtr 3Qtr 41998 TotalQtr 1Qtr 2Qtr 3Qtr 41999 TotalQtr 1Qtr 2Qtr 3Qtr 42000 TotalQtr 1Qtr 2Qtr 3Qtr 42001 TotalQtr 1Qtr 2Qtr 3Qtr 42002 TotalQtr 1Qtr 2Qtr 3Qtr 42003 TotalQtr 1Qtr 2Qtr 3Qtr 42004 TotalQtr 1Qtr 2Qtr 3Qtr 42005 TotalQtr 1Qtr 2Qtr 3Qtr 42006 TotalsQtr 1Qtr 2Qtr 3Qrt 42007 TotalsQtr 1Qtr 2Qtr 3Qtr 42008 TotalsQtr 1Qtr 2Qtr 3Qtr 42009 TotalQtr 1Qtr 2Qtr 3Qtr 42010 TotalQtr 1Qtr 2Qtr 3Qtr 42011 TotalQtr 1Qtr 2Qtr 3Qtr 42012 TotalQtr 1Qtr 2Qtr 3Qtr 42013 TotalQtr 12014 TotalBiotechnology$247,354,900$148,598,000$182,814,100$252,963,700$831,730,700$314,862,200$347,654,600$141,993,500$387,160,100$1,191,670,400$270,463,700$325,024,300$268,983,700$503,273,600$1,367,745,300$385,290,000$304,111,200$373,100,400$491,267,100$1,553,768,700$498,520,100$472,817,200$368,229,600$763,986,100$2,103,553,000$1,064,564,500$734,041,400$1,380,619,400$1,113,805,600$4,293,030,900$734,005,400$982,863,900$811,184,800$988,018,400$3,516,072,500$1,090,251,400$1,073,800,800$446,003,600$706,141,600$3,316,197,400$628,118,100$732,114,500$1,066,160,400$1,229,580,000$3,655,973,000$1,071,740,100$1,090,093,200$897,491,700$1,298,609,000$4,357,934,000$754,977,100$1,168,087,000$1,004,212,400$1,039,943,300$3,967,219,800$979,049,900$1,508,987,200$1,138,366,300$1,316,089,400$4,942,492,800$1,580,522,600$1,512,352,000$1,292,089,800$1,513,843,100$5,898,807,500$1,219,820,700$1,248,771,800$1,453,157,800$1,219,381,900$5,141,132,200$749,872,700$894,541,600$1,008,546,400$1,243,604,400$3,896,565,100$910,582,300$1,345,886,600$906,445,000$843,903,700$4,006,817,600$863,217,000$1,435,250,900$1,153,947,500$1,410,990,100$4,863,405,500$894,837,300$763,415,000$1,202,118,6001,344,875,5004,205,246,400$871,059,500$1,459,692,500$948,255,200$1,375,646,8004,654,654,000$1,062,156,8001,062,156,800Business Products and Services$86,807,900$25,053,000$52,506,100$23,432,900$187,799,900$55,683,000$80,674,300$68,814,400$85,389,200$290,560,900$153,467,600$92,169,100$86,216,300$105,282,000$437,135,000$83,539,200$213,031,000$194,337,000$227,041,700$717,948,900$321,261,900$515,381,000$576,757,500$1,260,080,700$2,673,481,100$1,376,450,200$1,010,510,500$1,644,930,300$627,154,700$4,659,045,700$347,319,800$407,254,600$159,248,400$162,824,100$1,076,646,900$187,007,500$97,900,900$120,727,100$82,217,300$487,852,800$173,072,600$217,494,100$122,136,900$160,672,400$673,376,000$76,642,800$153,226,200$178,815,200$57,023,200$465,707,400$54,652,200$127,205,100$88,257,100$102,525,200$372,639,600$124,682,300$247,160,300$123,880,000$96,949,700$592,672,300$129,320,100$146,282,700$190,407,700$142,805,200$608,815,700$137,793,600$198,481,600$34,625,100$83,163,000$454,063,300$84,325,200$32,099,900$81,975,300$60,768,900$259,169,300$161,044,800$131,187,800$40,661,000$80,804,100$413,697,700$28,014,200$42,383,800$42,439,100$40,066,000$152,903,100$36,029,200$16,274,400$26,510,00053,413,300132,226,900$26,536,100$44,840,900$70,967,300$75,277,100217,621,400$85,541,00085,541,000Computers and Peripherals$53,422,600$125,533,300$69,737,100$66,892,100$315,585,100$71,297,800$97,275,000$67,557,200$121,680,600$357,810,600$74,229,000$49,991,900$108,042,300$161,491,800$393,755,000$110,281,900$101,775,000$81,238,100$89,939,000$383,234,000$176,718,600$167,628,700$318,410,100$295,732,600$958,490,000$331,355,800$268,344,200$413,950,700$622,090,300$1,635,741,000$234,113,200$168,244,000$245,212,200$61,662,000$709,231,400$148,385,000$153,705,000$70,232,000$86,348,900$458,670,900$73,749,700$70,500,000$131,480,400$86,184,300$361,914,400$146,450,800$152,903,900$139,727,900$91,078,200$530,160,800$93,466,000$152,785,400$158,483,900$146,473,000$551,208,300$93,263,500$78,138,200$138,046,200$84,925,000$394,372,900$64,465,100$120,169,400$111,811,900$272,565,900$569,012,300$100,612,600$94,897,100$129,744,300$68,888,000$394,142,000$74,373,200$99,807,000$80,717,200$82,141,100$337,038,500$80,756,900$78,887,300$105,761,000$109,495,900$374,901,100$70,480,100$220,955,200$64,949,000$133,203,300$489,587,600$71,262,100$75,849,000$225,340,90056,709,000429,161,000$68,111,000$43,096,200$272,452,400$133,079,300516,738,900$188,221,200188,221,200Consumer Products and Services$137,383,100$125,117,000$159,833,000$99,622,000$521,955,100$171,582,000$130,522,800$99,075,100$114,126,000$515,305,900$156,440,400$169,016,900$229,102,000$192,615,100$747,174,400$90,286,000$233,522,000$228,217,000$142,029,700$694,054,700$298,327,900$517,630,100$688,213,100$1,185,806,300$2,689,977,400$1,298,190,100$1,084,882,900$503,328,900$334,463,800$3,220,865,700$315,814,100$131,807,900$76,106,000$173,887,300$697,615,300$78,033,100$61,542,000$44,399,900$72,204,200$256,179,200$24,930,000$36,221,000$53,512,900$42,391,000$157,054,900$76,425,000$27,669,100$138,851,000$87,754,000$330,699,100$161,619,600$54,940,000$82,706,900$86,155,200$385,421,700$109,115,800$76,252,100$54,420,900$180,184,800$419,973,600$73,860,000$113,334,300$85,139,000$168,490,900$440,824,200$80,009,200$117,477,300$134,887,000$67,959,200$400,332,700$71,854,700$118,640,000$151,229,100$150,070,200$491,794,000$125,784,900$195,974,100$179,642,500$159,193,900$660,595,400$293,341,700$358,428,000$326,739,400$370,355,200$1,348,864,300$416,079,100$181,881,100$263,331,700441,034,3001,302,326,200$366,025,700$457,321,300$102,362,400$333,299,9001,259,009,300$525,438,800525,438,800Electronics/Instrumentation$26,338,000$70,422,900$19,716,200$34,810,000$151,287,100$34,695,200$74,071,300$58,885,000$32,530,200$200,181,700$43,750,300$114,993,100$35,779,000$112,256,000$306,778,400$41,996,000$67,435,000$54,469,600$34,594,000$198,494,600$64,768,000$42,482,000$78,980,100$85,313,200$271,543,300$179,188,500$121,189,300$262,423,100$216,371,800$779,172,700$55,920,000$75,704,900$136,264,000$97,995,000$365,883,900$118,649,000$82,299,800$41,621,100$56,963,300$299,533,200$30,650,000$39,710,000$51,453,300$71,835,600$193,648,900$68,176,200$122,656,700$97,722,900$86,072,300$374,628,100$103,340,400$71,228,300$158,730,200$63,437,200$396,736,100$179,083,900$232,075,400$129,870,500$128,036,600$669,066,400$160,944,200$118,870,800$122,761,600$161,061,600$563,638,200$149,167,300$123,543,300$164,923,800$167,715,800$605,350,200$54,964,100$139,862,200$95,270,300$88,720,900$378,817,500$51,775,100$133,956,900$93,571,100$110,781,300$390,084,400$65,644,100$116,564,200$148,485,100$91,995,800$422,689,200$37,458,000$56,543,700$89,148,20067,319,100250,469,000$73,124,400$106,339,900$58,558,500$88,211,200326,234,000$78,063,70078,063,700Financial Services$61,471,900$11,319,000$45,760,000$64,974,100$183,525,000$144,359,000$62,662,000$30,784,000$81,369,100$319,174,100$53,938,000$110,606,800$159,432,000$59,431,000$383,407,800$146,754,000$273,288,300$173,481,100$267,154,500$860,677,900$276,083,000$472,227,500$586,808,400$793,155,700$2,128,274,600$1,365,914,900$1,164,234,900$903,106,300$697,633,100$4,130,889,200$539,419,300$265,420,200$180,932,200$215,099,200$1,200,870,900$144,365,900$71,675,000$62,139,000$52,774,800$330,954,700$66,450,000$81,164,000$24,561,000$240,551,000$412,726,000$106,587,200$172,068,600$79,229,600$173,622,200$531,507,600$169,912,000$426,214,900$166,288,100$144,763,000$907,178,000$215,945,800$79,374,100$80,091,700$191,379,700$566,791,300$42,563,000$161,856,400$211,995,900$175,832,200$592,247,500$163,523,400$109,991,200$137,449,900$69,595,000$480,559,500$101,790,400$13,545,000$37,158,000$182,729,000$335,222,400$128,302,100$106,909,400$62,320,000$93,600,900$391,132,400$48,009,200$63,474,800$91,413,900$106,835,900$309,733,800$52,541,100$37,776,800$153,285,10012,782,000256,385,000$71,196,600$65,768,100$338,707,900$90,256,000565,928,600$268,808,200268,808,200Healthcare Services$67,183,900$200,895,900$61,090,000$134,569,800$463,739,600$125,508,000$190,330,100$202,471,900$227,801,200$746,111,200$225,369,800$311,354,100$172,578,200$269,232,300$978,534,400$242,296,800$213,814,200$303,251,100$200,996,200$960,358,300$268,050,400$346,370,900$325,673,300$559,680,900$1,499,775,500$509,386,200$373,111,000$280,131,300$233,365,800$1,395,994,300$150,568,200$226,871,900$71,407,600$107,366,200$556,213,900$56,779,000$112,154,100$111,669,900$99,772,000$380,375,000$70,940,200$38,044,000$46,444,000$78,327,300$233,755,500$38,809,000$175,595,900$76,788,600$90,586,100$381,779,600$48,552,900$120,037,100$65,348,100$144,723,900$378,662,000$179,170,800$80,252,900$31,700,000$88,486,900$379,610,600$53,390,000$77,404,000$131,838,200$81,761,300$344,393,500$46,280,000$24,248,000$42,589,300$51,580,900$164,698,200$41,504,800$40,800,100$17,732,900$41,376,000$141,413,800$15,479,100$64,129,100$97,667,500$73,002,000$250,277,700$77,837,000$55,348,900$107,201,000$58,510,000$298,896,900$7,900,000$54,149,000$85,789,100184,763,000332,601,100$22,339,000$35,030,000$56,897,000$78,854,200193,120,200$77,110,30077,110,300Industrial/Energy$171,514,200$134,992,800$95,536,700$125,355,900$527,399,600$97,805,000$161,271,200$114,348,200$121,112,700$494,537,100$102,712,700$220,389,000$251,489,000$129,159,100$703,749,800$212,498,100$470,178,100$326,422,500$274,742,900$1,283,841,600$75,452,900$171,818,200$306,658,000$877,234,800$1,431,163,900$750,032,600$556,477,600$746,931,900$583,524,000$2,636,966,100$517,953,000$358,628,300$169,848,000$201,159,100$1,247,588,400$409,034,100$167,226,100$113,030,100$133,629,200$822,919,500$149,925,100$181,684,000$231,868,100$170,861,800$734,339,000$188,263,000$186,386,500$171,556,100$296,764,700$842,970,300$279,460,300$293,614,000$278,894,000$279,003,100$1,130,971,400$317,574,700$585,155,500$546,474,800$491,367,700$1,940,572,700$475,295,200$579,702,400$1,081,104,700$909,534,900$3,045,637,200$1,276,530,300$1,231,216,500$1,247,048,000$861,024,900$4,615,819,700$410,871,000$667,739,600$915,396,600$582,326,000$2,576,333,200$741,446,500$1,383,510,800$487,826,400$781,364,400$3,394,148,100$1,115,845,900$802,658,900$821,850,200$993,832,000$3,734,187,000$846,359,400$927,504,800$541,046,400581,392,5002,896,303,100$217,845,800$363,229,500$365,703,300$544,485,3001,491,263,900$518,066,600518,066,600IT Services$78,923,100$24,803,000$29,949,100$41,175,500$174,850,700$48,887,900$185,533,000$122,199,200$177,998,200$534,618,300$148,835,100$155,370,800$115,886,100$223,924,900$644,016,900$175,727,500$227,321,400$296,878,300$375,796,100$1,075,723,300$492,670,300$815,861,300$1,253,708,200$1,755,364,800$4,317,604,600$2,788,609,000$2,572,706,600$2,029,055,900$1,473,992,500$8,864,364,000$523,566,000$1,013,238,500$594,198,500$390,956,600$2,521,959,600$190,920,200$313,046,200$247,692,000$282,154,100$1,033,812,500$178,957,900$175,652,100$146,220,000$235,484,100$736,314,100$185,163,200$147,164,700$235,653,200$224,636,100$792,617,200$319,313,000$229,259,300$203,180,300$249,939,100$1,001,691,700$439,523,800$330,411,400$328,089,200$414,226,500$1,512,250,900$485,808,200$410,741,100$480,350,800$494,880,600$1,871,780,700$519,853,700$592,988,500$546,992,000$425,870,600$2,085,704,800$325,327,300$287,037,700$266,448,600$334,566,000$1,213,379,600$367,298,100$410,577,800$563,156,000$348,100,000$1,689,131,900$534,407,800$741,593,000$484,509,900$797,116,100$2,557,626,800$445,424,300$537,166,800$504,568,100370,817,2001,857,976,400$258,724,100$623,970,500$466,883,100$615,684,3001,965,262,000$815,996,600815,996,600Media and Entertainment$43,487,000$708,311,100$90,427,900$101,772,000$943,998,000$358,396,700$241,327,700$291,750,900$262,861,300$1,154,336,600$302,604,900$203,034,100$263,526,800$348,211,300$1,117,377,100$357,219,100$443,798,800$368,324,200$684,843,000$1,854,185,100$528,191,900$1,814,959,200$1,941,842,300$3,108,677,800$7,393,671,200$3,915,365,900$2,870,729,900$2,057,373,300$1,766,983,900$10,610,453,000$905,808,500$616,292,800$572,663,300$273,018,900$2,367,783,500$245,811,800$227,164,100$171,296,000$143,753,000$788,024,900$158,557,000$164,966,400$188,180,400$157,659,200$669,363,000$144,740,200$406,420,900$91,942,900$331,178,400$974,282,400$307,657,000$313,966,500$284,248,500$276,937,200$1,182,809,200$513,121,600$368,979,100$499,559,900$479,461,100$1,861,121,700$475,815,000$507,519,200$566,763,000$590,677,600$2,140,774,800$573,498,900$596,324,700$346,713,000$603,925,600$2,120,462,200$227,647,400$465,331,700$459,578,400$558,052,100$1,710,609,600$349,088,700$411,437,100$297,238,300$558,685,600$1,616,449,700$571,964,200$751,301,800$671,937,700$446,774,500$2,441,978,200$474,190,900$775,166,300$532,627,600426,563,1002,208,547,900$534,554,700$661,416,100$586,406,000$1,180,619,9002,962,996,700$743,416,800743,416,800Medical Devices and Equipment$169,770,000$198,825,400$169,772,200$129,335,900$667,703,500$114,998,000$182,951,200$114,919,400$206,561,000$619,429,600$198,421,700$270,888,000$241,776,000$315,592,200$1,026,677,900$285,457,800$287,275,700$330,799,100$359,584,700$1,263,117,300$295,495,600$363,297,200$341,821,800$581,402,300$1,582,016,900$421,391,400$491,382,900$692,976,200$812,734,900$2,418,485,400$597,429,500$616,875,300$430,610,000$440,699,000$2,085,613,800$416,067,300$622,880,000$456,518,300$413,464,000$1,908,929,600$397,604,900$435,595,300$340,266,800$512,380,900$1,685,847,900$330,440,500$541,847,800$526,347,800$568,973,800$1,967,609,900$482,516,300$437,815,500$669,284,500$625,384,400$2,215,000,700$712,123,800$632,582,200$757,257,200$675,496,200$2,777,459,400$1,117,196,100$898,719,200$761,238,900$882,838,300$3,659,992,500$1,045,306,600$960,249,700$932,227,300$707,315,400$3,645,099,000$498,818,600$728,496,700$724,232,800$667,499,300$2,619,047,400$501,734,500$770,026,300$583,525,200$528,182,900$2,383,468,900$738,370,500$872,330,400$766,093,300$530,167,300$2,906,961,500$715,382,000$684,811,700$511,528,000632,079,1002,543,800,800$562,301,500$517,713,800$561,861,200$460,267,9002,102,144,400$588,093,000588,093,000Networking and Equipment$81,470,000$66,101,100$55,444,000$169,284,200$372,299,300$103,371,100$199,646,400$117,120,200$208,209,100$628,346,800$145,019,400$232,621,800$280,792,000$303,300,700$961,733,900$278,786,100$357,345,300$344,027,000$456,077,500$1,436,235,900$704,832,700$500,679,900$1,187,120,200$2,211,054,000$4,603,686,800$2,061,607,300$3,053,378,800$3,590,838,000$2,851,273,200$11,557,097,300$1,764,521,600$1,495,418,100$1,372,710,500$1,081,625,700$5,714,275,900$1,056,379,700$566,158,700$406,640,700$597,458,100$2,626,637,200$302,770,600$502,693,600$385,762,900$535,023,800$1,726,250,900$342,685,100$521,291,600$347,384,200$325,914,400$1,537,275,300$420,692,400$541,547,900$440,221,500$258,772,900$1,661,234,700$277,601,400$343,215,600$307,034,200$293,657,300$1,221,508,500$282,823,000$390,268,500$460,886,700$254,075,800$1,388,054,000$214,210,400$205,140,700$172,338,200$184,746,500$776,435,800$69,311,300$203,317,200$268,912,900$155,552,100$697,093,500$149,971,200$224,712,300$66,138,100$123,409,400$564,231,000$85,757,100$161,844,100$59,055,000$63,435,300$370,091,500$72,463,400$91,773,700$101,250,00051,652,000317,139,100$375,846,100$121,623,800$135,724,900$38,581,000671,775,800$20,548,90020,548,900Other$5,039,000$10,999,900$4,591,000$17,135,000$37,764,900$5,143,000$3,553,000$2,500,000$10,077,000$21,273,000$1,129,000$25,600,000$39,967,000$66,696,000$20,000,000$4,034,000$20,000,000$80,938,000$124,972,000$6,753,000$29,800,000$14,713,000$163,218,000$214,484,000$21,499,900$24,357,000$3,244,000$10,634,000$59,734,900$10,103,000$6,957,000$9,840,000$27,800,000$54,700,000$17,000,000$0$17,000,000$0$0$0$13,200,000$400,000$13,600,000$0$100,000$0$100,000$0$0$0$400,000$0$2,699,000$3,099,000$0$0$0$24,300,000$240,000$3,000,000$301,000$27,841,000$80,000$4,114,000$0$4,194,000$0$8,538,000$680,000$2,005,000$11,223,000$1,000,000$2,150,000$1,837,00020,210,00025,197,000$11,270,000$74,675,000$12,111,00098,056,000$2,821,0002,821,000Retailing/Distribution$41,814,000$68,627,300$99,171,000$92,991,200$302,603,500$19,831,000$139,665,100$61,110,200$48,077,200$268,683,500$59,752,900$133,595,200$54,502,100$77,778,800$325,629,000$95,239,200$172,144,000$211,740,900$269,667,800$748,791,900$227,180,300$570,062,900$878,417,500$1,165,994,600$2,841,655,300$1,181,233,400$819,683,400$654,278,500$550,695,400$3,205,890,700$175,847,200$72,037,200$53,247,100$66,568,000$367,699,500$12,471,100$38,952,900$56,050,000$31,150,000$138,624,000$11,876,000$28,291,000$13,619,000$10,015,000$63,801,000$68,200,100$53,500,000$16,130,000$78,999,900$216,830,000$33,524,000$64,504,000$104,858,200$39,928,000$242,814,200$28,599,900$19,024,000$72,646,000$59,186,000$179,455,900$89,514,800$113,384,800$31,575,100$90,184,000$324,658,700$30,385,100$99,367,500$58,300,100$10,800,000$198,852,700$24,494,000$46,900,000$37,116,100$19,825,000$128,335,100$37,628,100$42,205,100$27,672,100$35,621,000$143,126,300$16,864,000$220,004,500$119,876,200$32,637,000$389,381,700$41,780,000$151,277,300$130,822,10079,285,900403,165,300$17,451,700$68,117,900$33,007,500$117,992,900236,570,000$251,004,900251,004,900Semiconductors$50,136,100$65,346,200$48,644,900$50,336,200$214,463,400$102,503,800$68,505,200$99,817,900$75,463,100$346,290,000$145,272,300$126,835,700$209,004,100$116,281,900$597,394,000$124,725,000$188,857,200$152,939,400$172,109,900$638,631,500$194,714,200$223,016,300$389,353,700$570,986,000$1,378,070,200$534,351,300$971,420,800$1,134,910,300$1,161,642,800$3,802,325,200$656,158,500$660,311,700$595,654,400$562,219,200$2,474,343,800$503,241,200$468,125,100$421,805,900$262,222,900$1,655,395,100$490,565,600$430,143,300$350,312,100$490,380,600$1,761,401,600$578,660,800$626,156,100$379,604,800$573,025,400$2,157,447,100$385,106,500$488,741,400$493,610,600$484,985,900$1,852,444,400$529,716,300$647,036,300$617,242,000$517,378,100$2,311,372,700$375,086,500$483,600,000$647,961,600$551,825,800$2,058,473,900$562,450,700$313,158,000$413,058,500$302,443,600$1,591,110,800$114,398,800$159,255,100$274,624,500$259,679,700$807,958,100$357,897,300$299,530,000$246,656,200$211,179,200$1,115,262,700$399,428,300$313,252,600$253,734,500$392,532,800$1,358,948,200$227,828,000$332,576,900$167,333,400186,039,500913,777,800$142,368,200$121,293,400$131,822,800$206,001,000601,485,400$171,693,200171,693,200Software$214,933,900$362,068,600$238,987,800$371,622,300$1,187,612,600$444,281,000$648,082,500$534,284,000$724,895,100$2,351,542,600$766,102,700$871,051,200$976,550,100$867,895,700$3,481,599,700$1,098,613,500$1,235,920,300$1,103,432,600$1,330,798,900$4,768,765,300$1,336,619,500$2,670,715,400$2,658,127,900$4,172,333,400$10,837,796,200$6,553,123,200$7,118,250,800$6,134,112,300$5,678,957,500$25,484,443,800$3,692,278,300$3,069,821,400$1,786,465,300$2,321,966,300$10,870,531,300$1,545,454,500$1,527,082,900$1,247,682,300$1,187,586,700$5,507,806,400$1,214,486,000$1,286,116,900$1,139,267,000$1,300,409,100$4,940,279,000$1,468,548,900$1,533,444,300$1,142,914,400$1,352,901,100$5,497,808,700$1,329,988,700$1,306,272,500$1,282,193,500$1,356,925,700$5,275,380,400$1,366,046,100$1,533,008,700$1,291,662,400$1,309,427,600$5,500,144,800$1,489,429,900$1,689,199,800$1,463,237,200$1,693,184,200$6,335,051,100$1,619,647,500$1,642,696,400$1,565,759,600$1,231,109,400$6,059,212,900$836,431,200$995,069,200$934,181,500$1,367,562,900$4,133,244,800$1,004,973,600$1,432,124,000$1,304,582,300$1,517,183,700$5,258,863,600$1,464,118,800$1,893,115,900$2,310,306,000$1,884,505,700$7,552,046,400$1,752,798,400$2,479,059,500$2,030,247,0002,303,659,9008,565,764,800$2,332,773,500$2,275,525,400$3,574,022,100$2,891,561,10011,073,882,100$4,008,851,1004,008,851,100Telecommunications$152,990,900$199,360,000$285,773,400$299,081,100$937,205,400$225,560,200$295,285,600$476,983,200$323,631,700$1,321,460,700$280,045,700$303,007,400$300,199,300$674,486,600$1,557,739,000$450,835,000$988,376,900$862,480,400$704,809,000$3,006,501,300$882,883,400$1,623,305,600$1,689,550,300$3,787,301,300$7,983,040,600$4,077,051,700$4,771,436,400$4,190,707,800$3,325,198,500$16,364,394,400$1,848,356,900$1,339,613,100$980,155,400$971,827,300$5,139,952,700$816,646,700$529,174,900$453,919,300$362,945,000$2,162,685,900$419,624,100$568,997,200$303,356,700$327,915,900$1,619,893,900$500,059,500$411,154,000$512,482,700$417,269,100$1,840,965,300$277,553,100$650,738,400$582,709,300$521,074,700$2,032,075,500$569,468,100$652,999,600$733,701,100$398,719,600$2,354,888,400$573,033,100$534,283,900$561,031,400$489,446,300$2,157,794,700$372,369,600$449,311,700$294,724,300$405,468,900$1,521,874,500$147,665,400$222,113,200$69,344,200$143,104,400$582,227,200$131,516,400$103,979,000$387,133,200$118,676,200$741,304,800$138,554,200$155,519,000$141,303,100$120,357,300$555,733,600$244,489,800$244,612,100$90,236,200165,611,900744,950,000$62,935,100$117,301,000$264,246,800$199,131,500643,614,400$63,110,90063,110,900Grand Total$1,690,040,500$2,546,374,500$1,709,754,500$2,075,353,900$8,021,523,400$2,438,764,900$3,109,011,000$2,604,614,300$3,208,942,800$11,361,333,000$3,127,555,200$3,689,949,400$3,779,459,000$4,500,180,000$15,097,143,600$4,199,545,200$5,782,228,400$5,425,138,700$6,162,390,000$21,569,302,300$6,648,523,700$11,318,053,400$13,604,385,000$23,337,322,500$54,908,284,600$28,429,315,900$28,006,138,400$26,622,918,200$22,060,521,800$105,118,894,300$13,069,182,500$11,507,360,800$8,245,747,700$8,144,692,300$40,966,983,300$7,036,497,500$6,112,888,500$4,471,427,200$4,570,785,100$22,191,598,300$4,392,277,800$4,989,387,400$4,594,601,900$5,649,672,000$19,625,939,100$5,391,592,400$6,321,579,500$5,045,843,000$6,054,807,900$22,813,822,800$5,222,331,500$6,447,057,300$6,063,227,100$5,820,971,800$23,553,587,700$6,634,087,700$7,414,652,600$6,850,042,400$6,724,972,200$27,623,754,900$7,469,066,800$7,858,088,500$8,200,193,500$8,475,706,700$32,003,055,500$8,111,459,600$8,007,864,000$7,674,538,200$6,460,988,700$30,254,850,500$3,857,950,100$5,114,796,200$5,425,464,800$5,937,879,000$20,336,090,100$5,115,359,600$7,135,033,600$5,454,109,900$5,693,184,200$23,397,687,300$6,511,854,100$8,212,564,000$7,564,520,900$7,475,319,300$29,764,258,300$6,337,823,000$7,411,988,100$6,657,019,4006,978,207,30027,385,037,800$6,014,463,000$7,156,955,300$7,967,878,400$8,441,060,40029,580,357,100$9,468,943,0009,468,943,000Number of DealsIndustry199519961996 Total199719981999200020012002200320042005200620072008200920102011201220132014Qtr 1Qtr 2Qtr 3Qtr 41995 TotalQtr 1Qtr 2Qtr 3Qtr 41996 TotalQtr 1Qtr 2Qtr 3Qtr 41997 TotalQtr 1Qtr 2Qtr 3Qtr 41998 TotalQtr 1Qtr 2Qtr 3Qtr 41999 TotalQtr 1Qtr 2Qtr 3Qtr 42000 TotalQtr 1Qtr 2Qtr 3Qtr 42001 TotalQtr 1Qtr 2Qtr 3Qtr 42002 TotalQtr 1Qtr 2Qtr 3Qtr 42003 TotalQtr 1Qtr 2Qtr 3Qtr 42004 TotalQtr 1Qtr 2Qtr 3Qtr 42005 TotalQtr 1Qtr 2Qtr 3Qtr 42006 TotalsQtr 1Qtr 2Qtr 3Qrt 42007 TotalsQtr 1Qtr 2Qtr 3Qtr 42008 TotalsQtr 1Qtr 2Qtr 3Qtr 42009 TotalQtr 1Qtr 2Qtr 3Qtr 42010 TotalQtr 1Qtr 2Qtr 3Qtr 42011 TotalQtr 1Qtr 2Qtr 3Qtr 42012 TotalQtr 1Qtr 2Qtr 3Qtr 42013 TotalQtr 12014 TotalBiotechnology44393954176656142672355360557624475507278275597552782649483909135875908197343969856813317084891173609210590117404871131001144141021411091384901171551231485431331391371365459810912813246712115811511550910712910812947312210411914148699118125142484112112Business Products and Services17111695314171821702122203295243534461393460691162791369813486454585136321772530222510228212523971827211783162220217919272920951636263311129342426113201719147016241716731619149581299939122015196688Computers and Peripherals233022189322242028942820293811530211922921821293810636292840133261925128215191610602181414571119151560142316136617132111621317152772181515115913111215511114131452101813185998157394125123399Consumer Products and Services35203025110283530391324839314516340424637165466782902859387584828635312724117172014217251314154715112119661620202177121921277916262444110223222271031822232588283422321163443313214036434349171495034401734141Electronics/Instrumentation16141094981112124381611175214151312541312121451121925177313111417551814141662715112053922211769271819188220272026931732231991252423229413131817611618201468121816135912121017511291310441111Financial Services195111348161791860282516208926352233116315245611898988847333446372923135261817157615191218641119132770231410186527162223881123302488182119106814108174925161715739141517551492165012171813601818Healthcare Services201918177425333449141393534481564233433815637353949160594336281663631152410618171619701715192071131816166312201519662011714529142113579111416501011107388111314461681011456915124291010134299Industrial/Energy3930293012835353451155455660522135042455118831425279204655366702547151394020136392132128322837391364041275015835323748152466056622245663899830673901078935952696378262788267743017991837032372585870258595257672355454IT Services221182162262731451294534295316144594262207759112416745718520015414668584100845932740534635174393435391473732394815643473748175605652722406767678128267747866285524852672196181787329388887897351708571682946479109883405959Media and Entertainment284336311384350415719152464972219575964832639616618725270130129018717194912611479523715043393616825373928129264827401414156516020874789285329819911410740111312299784125268748728181103768934986137124964438312110611142198122113137470105105Medical Devices and Equipment504541431795156446221358686879273727270842985684747729163689177299667360612605177515723658586869253608064842886368767428186889290356100106909839411110992873996893849934471100898634696101918237079867382320747665973126161Networking and Equipment271417248227352833123264036381404753565521152617289274106123122127478977571863297554425622735554549184475050431904760393718332403325130293936331372929192910615292625951318111456142266481012643277652522Other32231013149532101127113548201533122522112131111461113222225112131212644210114391245123621144Retailing/Distribution1511721541218221870223113259125313727120335053952318276735128233142215841014151049988631101081038981011389412143911131064091686398771234679931102217126110161318571116914501515Semiconductors171615166422151920762723373111827293531122293139491485266687025649585746210454643361705252496221566794271258515856552206664716526650635758228604961412112529364613643364127147313040361373232272411524242128972020Software101119931234361451821651956872042002092158282302542322729882313583824491,4205606025244842,1703533622883041,3072562702372431,0062522572152469702262642082529502342412412389542472842352631,0292492892452981,0812942762872631,1201901971822638322152992672911,0722773203373421,2762953453384151,3933613584424091,570414414Telecommunications2737403814246545357210666363752676781999133891121131180523227212216197852151117104106478866760612745853525021361536058232436162682346879808130864747466278516342592153129243912330233127111202733271072237182097181516166599Grand Total5034664344951,8985866736037762,6387757787639183,2348719129311,0293,7439351,3311,4461,8915,6032,1612,1421,9591,7798,0411,3211,2391,0331,0004,5938668807097533,2087237577328163,0287428797238883,2327628628098643,2979051,0079521,0183,8829081,1181,0461,1584,2301,0611,1061,0479674,1816807647679453,1568271,0248909123,6539061,0881,0201,0004,0148859889461,0583,8779169911,0581,1124,077951951

&C&"Times New Roman,Regular"&12PricewaterhouseCoopers/National Venture Capital Association MoneyTree Report, Data: Thomson Reuters&L&"Times New Roman,Regular"&10Source: PricewaterhouseCoopers/National Venture Capital Association MoneyTree Report, Data: Thomson Reuters&P

Internet-Specific - Table 1PricewaterhouseCoopers/National Venture Capital AssociationMoneyTree Report, Data: Thomson ReutersFirst Sequence Investments in Internet-Specific Companies Q1 1995 - Q1 2014Amount InvestedStage of Development19951996199719981999200020012002200320042005200620072008200920102011201220132014Qtr 1Qtr 2Qtr 3Qtr 41995 TotalQtr 1Qtr 2Qtr 3Qtr 41996 TotalQtr 1Qtr 2Qtr 3Qtr 41997 TotalQtr 1Qtr 2Qtr 3Qtr 41998 TotalQtr 1Qtr 2Qtr 3Qtr 41999 TotalQtr 1Qtr 2Qtr 3Qtr 42000 TotalQtr 1Qtr 2Qtr 3Qtr 42001 TotalQtr 1Qtr 2Qtr 3Qtr 42002 TotalQtr 1Qtr 2Qtr 3Qtr 42003 TotalQtr 1Qtr 2Qtr 3Qtr 42004 TotalQtr 1Qtr 2Qtr 3Qtr 42005 TotalQtr 1Qtr 2Qtr 3Qtr 42006 TotalQtr 1Qtr 2Qtr 3Qtr 42007 TotalQtr 1Qtr 2Qtr 3Qtr 42008 TotalQtr 1Qtr 2Qtr 3Qtr 42009 TotalQtr 1Qtr 2Qtr 3Qtr 42010 TotalQtr 1Qtr 2Qtr 3Qtr 42011 TotalQtr 1Qtr 2Qtr 3Qtr 42012 TotalQtr 1Qtr 2Qtr 3Qtr 42013 TotalQtr 12014 TotalFirst Sequence Financing$24,764,000$54,914,000$90,691,900$79,792,200$250,162,100$75,001,900$311,098,300$134,659,900$117,009,900$637,770,000$110,962,000$222,310,700$93,771,900$201,359,900$628,404,500$184,815,300$265,817,500$391,225,400$602,757,200$1,444,615,400$539,471,500$1,441,145,500$2,082,580,200$3,394,172,700$7,457,369,900$4,419,518,500$3,509,833,500$1,941,406,400$1,362,027,400$11,232,785,800$544,997,200$343,862,900$161,769,000$99,125,700$1,149,754,800$106,208,800$53,019,800$90,620,200$69,583,800$319,432,600$84,961,000$76,808,000$100,014,900$120,701,000$382,484,900$127,981,100$101,445,600$110,171,000$148,414,000$488,011,700$312,978,000$211,700,200$287,314,300$209,498,200$1,021,490,700$253,128,100$243,486,200$392,595,100$286,520,400$1,175,729,800$305,309,300$358,840,900$307,042,300$418,335,300$1,389,527,800$417,900,500$411,726,300$278,018,600$253,867,300$1,361,512,700$184,998,200$171,385,800$96,206,900$203,070,700$655,661,600$201,780,500$153,480,200$374,155,200$236,854,600$966,270,500$304,487,400$501,335,900$341,485,600$248,418,700$1,395,727,600$222,524,900$400,299,800$391,878,300$313,590,600$1,328,293,600$153,733,600$254,920,400$294,635,200$435,057,200$1,138,346,400$208,678,200$208,678,200All Other Deals$20,900,000$31,011,100$78,958,900$126,761,500$257,631,500$222,052,800$279,451,500$309,921,300$288,873,100$1,100,298,700$329,985,400$405,402,100$504,107,300$561,283,700$1,800,778,500$541,477,300$985,035,000$899,379,400$1,045,086,400$3,470,978,100$1,637,116,600$3,367,010,300$4,038,844,000$7,333,324,000$16,376,294,900$9,477,149,200$8,155,036,600$7,634,889,000$5,319,532,800$30,586,607,600$3,160,576,800$2,480,616,500$1,623,908,700$1,431,338,500$8,696,440,500$1,219,112,700$803,139,800$623,237,900$660,919,400$3,306,409,800$558,293,600$604,037,200$371,281,900$446,813,100$1,980,425,800$438,099,200$614,841,600$448,268,500$659,177,300$2,160,386,600$450,145,100$438,106,900$568,344,600$621,008,900$2,077,605,500$841,067,500$711,414,500$840,175,200$853,841,700$3,246,498,900$890,095,000$823,331,200$1,041,193,500$1,035,307,400$3,789,927,100$1,073,787,700$1,197,428,200$743,655,100$1,002,355,800$4,017,226,800$551,982,800$709,037,900$704,750,200$879,376,300$2,845,147,200$697,132,500$880,124,700$791,727,200$979,618,800$3,348,603,200$1,089,470,700$1,785,897,100$1,424,194,800$1,424,620,700$5,724,183,300$1,332,212,500$1,511,648,100$1,300,531,600$1,183,597,500$5,327,989,700$1,152,490,000$1,580,928,600$1,193,737,500$1,968,370,600$5,895,526,700$2,078,781,300$2,078,781,300Grand Total$45,664,000$85,925,100$169,650,800$206,553,700$507,793,600$297,054,700$590,549,800$444,581,200$405,883,000$1,738,068,700$440,947,400$627,712,800$597,879,200$762,643,600$2,429,183,000$726,292,600$1,250,852,500$1,290,604,800$1,647,843,600$4,915,593,500$2,176,588,100$4,808,155,800$6,121,424,200$10,727,496,700$23,833,664,800$13,896,667,700$11,664,870,100$9,576,295,400$6,681,560,200$41,819,393,400$3,705,574,000$2,824,479,400$1,785,677,700$1,530,464,200$9,846,195,300$1,325,321,500$856,159,600$713,858,100$730,503,200$3,625,842,400$643,254,600$680,845,200$471,296,800$567,514,100$2,362,910,700$566,080,300$716,287,200$558,439,500$807,591,300$2,648,398,300$763,123,100$649,807,100$855,658,900$830,507,100$3,099,096,200$1,094,195,600$954,900,700$1,232,770,300$1,140,362,100$4,422,228,700$1,195,404,300$1,182,172,100$1,348,235,800$1,453,642,700$5,179,454,900$1,491,688,200$1,609,154,500$1,021,673,700$1,256,223,100$5,378,739,500$736,981,000$880,423,700$800,957,100$1,082,447,000$3,500,808,800$898,913,000$1,033,604,900$1,165,882,400$1,216,473,400$4,314,873,700$1,393,958,100$2,287,233,000$1,765,680,400$1,673,039,400$7,119,910,900$1,554,737,400$1,911,947,900$1,692,409,900$1,497,188,100$6,656,283,300$1,306,223,600$1,835,849,000$1,488,372,700$2,403,427,800$7,033,873,100$2,287,459,500$2,287,459,500Number of DealsStage of Development19951996199719981999200020012002200320042005200620072008200920102011201220132014Qtr 1Qtr 2Qtr 3Qtr 41995 TotalQtr 1Qtr 2Qtr 3Qtr 41996 TotalQtr 1Qtr 2Qtr 3Qtr 41997 TotalQtr 1Qtr 2Qtr 3Qtr 41998 TotalQtr 1Qtr 2Qtr 3Qtr 41999 TotalQtr 1Qtr 2Qtr 3Qtr 42000 TotalQtr 1Qtr 2Qtr 3Qtr 42001 TotalQtr 1Qtr 2Qtr 3Qtr 42002 TotalQtr 1Qtr 2Qtr 3Qtr 42003 TotalQtr 1Qtr 2Qtr 3Qtr 42004 TotalQtr 1Qtr 2Qtr 3Qtr 42005 TotalQtr 1Qtr 2Qtr 3Qtr 42006 TotalQtr 1Qtr 2Qtr 3Qtr 42007 TotalQtr 1Qtr 2Qtr 3Qtr 42008 TotalQtr 1Qtr 2Qtr 3Qtr 42009 TotalQtr 1Qtr 2Qtr 3Qtr 42010 TotalQtr 1Qtr 2Qtr 3Qtr 42011 TotalQtr 1Qtr 2Qtr 3Qtr 42012 TotalQtr 1Qtr 2Qtr 3Qtr 42013 TotalQtr 12014 TotalFirst Sequence Financing122127399937604554196415035621885169871073141402633524331,1884884262792041,3978853473422223192415812013182475262929341184454546021264728582303678588106346941008466344464843752126378759130787126120994327011010711139879102103993836969All Other Deals6818255737404861186617483109327881241201284601592342683831,0444814674403851,7733132682301859961541471151105268893958736373897282316707875913141088410913143211012214613451213515813013555898101114129442122147126137532124178146142590132173147145597157176169174676150150Grand Total1829456415674100931153821021241181715151391932072357742994976208162,2329698937195893,1704013212772191,218177166139125607108106113111438991181011164341141321291515261721561942137351772072342408582292582142019021441491572046541852252012288392113042662411,0222022832542569952362782722731,059219219Source: PricewaterhouseCoopers/National Venture Capital Association MoneyTree Report, Data: Thomson Reuters

&C&"Times New Roman,Regular"&12PricewaterhouseCoopers/National Venture Capital Association MoneyTree Report, Data: Thomson Reuters&L&"Times New Roman,Regular"&10Source: PricewaterhouseCoopers/National Venture Capital Association MoneyTree Report, Data: Thomson Reuters&P

Cleantech - Table 1PricewaterhouseCoopers/National Venture Capital AssociationMoneyTree Report, Data: Thomson ReutersCleantech Sector Investments Q1 1995 - Q1 2014Quarter19951996199719981999200020012002200320042005200620072008200920102011201220132014# of DealsAmount Invested# of DealsAmount Invested# of DealsAmount Invested# of DealsAmount Invested# of DealsAmount Invested# of DealsAmount Invested# of DealsAmount Invested# of DealsAmount Invested# of DealsAmount Invested# of DealsAmount Invested# of DealsAmount Invested# of DealsAmount Invested# of DealsAmount Invested# of DealsAmount Invested# of DealsAmount Invested# of DealsAmount Invested# of DealsAmount Invested# of DealsAmount Invested# of DealsAmount Invested# of DealsAmount Invested110$27,734,10013$36,796,00013$34,269,80011$60,748,10013$32,049,90017$191,284,10021$80,370,00011$99,060,00012$59,013,90015$34,490,00025$182,564,10030$352,541,80048$487,837,70072$1,278,083,80043$392,708,00085$854,814,00072$1,125,143,40070$877,917,10057$384,432,70033$357,473,10026$16,139,0008$56,950,00012$34,107,1007$27,764,00013$58,705,60013$215,763,70015$180,525,3009$67,884,00014$72,781,20022$107,733,30025$164,110,10042$489,388,10057$463,043,00067$841,529,80054$538,455,60080$1,477,451,70090$991,422,80049$815,406,50037$355,169,300310$8,691,00010$16,413,30012$43,089,00012$28,447,40011$30,313,10011$86,447,3007$8,478,00013$83,081,00014$63,450,00019$97,760,00022$133,371,10041$540,978,70073$1,019,123,90084$1,118,423,60061$830,495,60065$678,378,80082$858,762,30060$771,099,50043$284,300,20048$12,032,00013$31,345,70014$68,891,00011$60,766,90015$135,000,8007$98,150,40012$57,320,10016$100,292,10018$42,284,80023$177,547,70024$133,891,40037$377,382,60076$1,035,115,50073$928,955,30070$459,726,20064$774,385,10080$1,285,578,70057$497,855,40037$404,111,20034$64,596,100$44$141,505,000$51$180,356,900$41$177,726,400$52$256,069,400$48$591,645,500$55$326,693,400$49$350,317,100$58$237,529,900$79$417,531,000$96$613,936,700$150$1,760,291,200$254$3,005,120,100$296$4,166,992,500$228$2,221,385,400$294$3,785,029,600$324$4,260,907,200$236$2,962,278,500$174$1,428,013,400$33$357,473,100Source: PricewaterhouseCoopers/National Venture Capital Association MoneyTree Report, Data: Thomson Reuters

&C&"Times New Roman,Regular"&10PricewaterhouseCoopers/National Venture Capital Association MoneyTree Report, Data: Thomson Reuters&L&"Times New Roman,Regular"&10PricewaterhouseCoopers/National Venture Capital Association MoneyTree Report, Data: Thomson Reuters&P

First Sequence by Stage of Dev PricewaterhouseCoopers/National Venture Capital AssociationMoneyTree Report, Data: Thomson ReutersFirst Sequence Investments by Stage of Development Q1 1995 - Q1 2014Amount InvestedStage of Development19951996199719981999200020012002200320042005200620072008200920102011201220132014Qtr 1Qtr 2Qtr 3Qtr 41995 TotalQtr 1Qtr 2Qtr 3Qtr 41996 TotalQtr 1Qtr 2Qtr 3Qtr 41997 TotalQtr 1Qtr 2Qtr 3Qtr 41998 TotalQtr 1Qtr 2Qtr 3Qtr 41999 TotalQtr 1Qtr 2Qtr 3Qtr 42000 TotalQtr 1Qtr 2Qtr 3Qtr 42001 TotalQtr 1Qtr 2Qtr 3Qtr 42002 TotalQtr 1Qtr 2Qtr 3Qtr 42003 TotalQtr 1Qtr 2Qtr 3Qtr 42004 TotalQtr 1Qtr 2Qtr 3Qtr 42005 TotalQtr 1Qtr 2Qtr 3Qtr 42006 TotalQtr 1Qtr 2Qtr 3Qtr 42007 TotalQtr 1Qtr 2Qtr 3Qtr 42008 TotalQtr 1Qtr 2Qtr 3Qtr 42009 TotalQtr 1Qtr 2Qtr 3Qtr 42010 TotalQtr 1Qtr 2Qtr 3Qtr 42011 TotalQtr 1Qtr 2Qtr 3Qtr 42012 TotalQtr 1Qtr 2Qtr 3Qtr 42013 TotalQtr 12014 TotalSeed Stage175,194,900252,377,600151,059,900163,929,200742,561,600133,719,000199,656,000132,228,700173,528,800639,132,500225,603,900205,172,100164,100,000203,439,400798,315,400249,699,600231,145,300222,665,200299,915,1001,003,425,200447,506,300569,902,200729,293,9001,043,945,8002,790,648,200694,490,400707,463,500698,215,600422,688,4002,522,857,900204,376,000202,032,000131,820,700107,514,800645,743,50062,319,00077,855,30067,835,00058,823,200266,832,50076,073,00076,791,00091,293,20058,715,300302,872,50081,121,10085,768,10096,134,300130,577,000393,600,500131,885,900485,367,500141,964,700107,373,000866,591,100215,801,000327,129,900322,217,400261,279,9001,126,428,200210,983,900385,060,700373,746,500440,958,5001,410,749,600323,879,200411,866,600417,426,600274,381,0001,427,553,400155,377,700358,039,300161,302,900203,598,600878,318,500195,059,300330,747,400201,717,600171,659,900899,184,200163,215,300365,430,900180,611,700110,857,200820,115,10084,233,200212,600,400118,689,400147,637,600563,160,600145,520,300175,019,100155,573,200284,597,200760,709,80097,600,90097,600,900Early Stage241,837,200197,484,200176,423,000282,367,200898,111,600345,048,000388,199,100251,027,500372,147,2001,356,421,800387,166,800377,904,900364,845,800593,718,2001,723,635,700711,232,500394,834,900525,146,5001,098,450,6002,729,664,500682,125,7001,164,498,4001,326,126,3003,195,675,0006,368,425,4004,821,740,2004,803,589,8003,486,790,9003,307,939,60016,420,060,5001,849,383,5001,115,165,200773,382,200673,108,2004,411,039,100715,315,400717,844,600457,740,500469,750,3002,360,650,800345,654,000590,981,700467,221,100717,548,3002,121,405,100544,972,300672,514,800644,895,900742,703,2002,605,086,200636,635,200610,352,500811,427,400558,496,9002,616,912,000516,442,800592,894,500621,010,900785,916,7002,516,264,900664,783,900885,343,600498,436,100869,212,4002,917,776,000655,941,500652,908,400538,511,900533,590,5002,380,952,300270,627,100273,233,700283,119,300519,135,6001,346,115,700397,591,000360,829,500534,277,700455,833,6001,748,531,800599,313,400650,460,000636,317,000735,886,2002,621,976,600561,019,800483,207,300561,100,500638,699,9002,244,027,500373,447,200849,398,700835,951,300887,122,8002,945,920,000830,080,500830,080,500Expansion Stage249,558,700774,610,400404,398,700211,358,8001,639,926,600475,181,900438,184,700342,079,600493,968,0001,749,414,200296,448,000610,481,800469,226,900490,360,0001,866,516,700499,194,0001,036,298,900718,061,400582,112,0002,835,666,300768,782,0001,060,331,2001,483,879,8002,526,729,8005,839,722,8002,894,288,9002,629,588,3001,734,292,1001,414,957,1008,673,126,400591,828,300595,740,700340,416,900363,860,9001,891,846,800413,531,100305,431,300403,844,000210,314,0001,333,120,400286,839,600229,349,200222,378,000214,787,900953,354,700293,110,400390,921,700358,355,900249,940,1001,292,328,100465,892,200346,349,100283,162,300480,016,9001,575,420,500539,193,700589,633,200454,796,500339,357,0001,922,980,400522,459,100537,518,800796,097,900621,271,6002,477,347,400576,689,300406,179,200457,014,900258,223,1001,698,106,50095,274,000172,880,100191,870,100326,248,900786,273,100208,897,100283,177,200236,916,500237,594,200966,585,000184,818,600300,797,100370,259,200189,328,4001,045,203,300128,069,800241,027,900358,251,800215,630,000942,979,500148,260,30095,743,100233,486,100226,708,900704,198,400135,054,900135,054,900Later Stage130,426,900244,597,000157,988,100163,127,100696,139,10086,396,900133,503,000104,055,900136,985,100460,940,900157,361,90079,266,100123,745,000121,554,900481,927,90072,299,900304,790,400213,519,00072,641,800663,251,10064,780,000515,429,000550,398,000203,879,1001,334,486,100228,931,900290,639,000191,328,000215,852,000926,750,900129,798,90094,602,20032,899,000108,077,900365,378,000119,322,000131,127,90050,516,90083,420,000384,386,80040,435,00074,109,00066,990,000132,954,900314,488,900164,897,100189,200,100173,453,000184,098,400711,648,600229,810,000184,303,800255,631,000223,137,800892,882,600169,205,300162,405,100267,703,000146,614,000745,927,400222,400,200204,225,000230,126,000279,871,000936,622,200292,965,800267,637,900277,881,000205,008,3001,043,493,000132,513,00041,960,000173,135,000152,676,000500,284,000165,268,000161,561,000319,564,00053,590,000699,983,000296,408,000318,420,000158,692,200203,907,000977,427,200163,790,000206,254,70067,300,000234,844,100672,188,800262,260,00090,296,800103,828,100190,160,000646,544,900127,715,100127,715,100Grand Total797,017,7001,469,069,200889,869,700820,782,3003,976,738,9001,040,345,8001,159,542,800829,391,7001,176,629,1004,205,909,4001,066,580,6001,272,824,9001,121,917,7001,409,072,5004,870,395,7001,532,426,0001,967,069,5001,679,392,1002,053,119,5007,232,007,1001,963,194,0003,310,160,8004,089,698,0006,970,229,70016,333,282,5008,639,451,4008,431,280,6006,110,626,6005,361,437,10028,542,795,7002,775,386,7002,007,540,1001,278,518,8001,252,561,8007,314,007,4001,310,487,5001,232,259,100979,936,400822,307,5004,344,990,500749,001,600971,230,900847,882,3001,124,006,4003,692,121,2001,084,100,9001,338,404,7001,272,839,1001,307,318,7005,002,663,4001,464,223,3001,626,372,9001,492,185,4001,369,024,6005,951,806,2001,440,642,8001,672,062,7001,665,727,8001,533,167,6006,311,600,9001,620,627,1002,012,148,1001,898,406,5002,211,313,5007,742,495,2001,849,475,8001,738,592,1001,690,834,4001,271,202,9006,550,105,200653,791,800846,113,100809,427,3001,201,659,1003,510,991,300966,815,4001,136,315,1001,292,475,800918,677,7004,314,284,0001,243,755,3001,635,108,0001,345,880,1001,239,978,8005,464,722,200937,112,8001,143,090,3001,105,341,7001,236,811,6004,422,356,400929,487,8001,210,457,7001,328,838,7001,588,588,9005,057,373,1001,190,451,4001,190,451,400Number of DealsStage of Development19951996199719981999200020012002200320042005200620072008200920102011201220132014Qtr 1Qtr 2Qtr 3Qtr 41995 TotalQtr 1Qtr 2Qtr 3Qtr 41996 TotalQtr 1Qtr 2Qtr 3Qtr 41997 TotalQtr 1Qtr 2Qtr 3Qtr 41998 TotalQtr 1Qtr 2Qtr 3Qtr 41999 TotalQtr 1Qtr 2Qtr 3Qtr 42000 TotalQtr 1Qtr 2Qtr 3Qtr 42001 TotalQtr 1Qtr 2Qtr 3Qtr 42002 TotalQtr 1Qtr 2Qtr 3Qtr 42003 TotalQtr 1Qtr 2Qtr 3Qtr 42004 TotalQtr 1Qtr 2Qtr 3Qtr 42005 TotalQtr 1Qtr 2Qtr 3Qtr 42006 TotalQtr 1Qtr 2Qtr 3Qtr 42007 TotalQtr 1Qtr 2Qtr 3Qtr 42008 TotalQtr 1Qtr 2Qtr 3Qtr 42009 TotalQtr 1Qtr 2Qtr 3Qtr 42010 TotalQtr 1Qtr 2Qtr 3Qtr 42011 TotalQtr 1Qtr 2Qtr 3Qtr 42012 TotalQtr 1Qtr 2Qtr 3Qtr 42013 TotalQtr 12014 TotalSeed Stage78526462256618966933091097172953471051131121294591291702041586611681611381205876162564322233392929130434736391653561305117743515661211687910672325731131091314269810110183383466144732245381658228168111928435544665054214394047551813232Early Stage827058712816612084131401108100121142471135961121585011322422824611,1175185494643821,9132371831411306911311369510446687103102132424120134133152539134129135141539118147132171568132173130156591140159132126557788289138387125136148139548170168178191707166199215248828187245272238942191191Expansion Stage87727261292876990115361981119311741910310797106413104136143242625253223172151799837769502795050485119943243441142304253581835366567725281766453274548165952958053514422820383746141385037461713352533917730454430149383237461533030Later Stage1215212573201915217522151418699212116679222113652325212392108915421318111153610131746172116227617201423741835302510822272733109333539351422315172378212525229333342519111212112318521201919791818Grand Total2592092152199022342972553601,1463372973003721,3063523373424091,4403745706508742,4689629587956763,3913913302752381,2342272431831958481791841852297772022582322839752472662613021,0762853373323211,2752813943314151,4213513483232881,3101671961872808302372922752891,0933043653483331,3502613313213631,2762853373753581,355271271Source: PricewaterhouseCoopers/National Venture Capital Association MoneyTree Report, Data: Thomson Reuters

&C&"Times New Roman,Regular"&12PricewaterhouseCoopers/National Venture Capital Association MoneyTree Report, Data: Thomson Reuters&L&"Times New Roman,Regular"&10PricewaterhouseCoopers/National Venture Capital Association MoneyTree Report, Data: Thomson Reuters&P

First Sequence by Industry - TaPricewaterhouseCoopers/National Venture Capital AssociationMoneyTree Report, Data: Thomson ReutersFirst Sequence Investments by Industry Q1 1995 - Q1 2014Amount InvestedIndustry19951996199719981999200020012002200320042005200620072008200920102011201220132014Qtr 1Qtr 2Qtr 3Qtr 41995 TotalQtr 1Qtr 2Qtr 3Qtr 41996 TotalQtr 1Qtr 2Qtr 3Qtr 41997 TotalQtr 1Qtr 2Qtr 3Qtr 41998 TotalQtr 1Qtr 2Qtr 3Qtr 41999 TotalQtr 1Qtr 2Qtr 3Qtr 42000 TotalQtr 1Qtr 2Qtr 3Qtr 42001 TotalQtr 1Qtr 2Qtr 3Qtr 42002 TotalQtr 1Qtr 2Qtr 3Qtr 42003 TotalQtr 1Qtr 2Qtr 3Qtr 42004 TotalQtr 1Qtr 2Qtr 3Qtr 42005 TotalQtr 1Qtr 2Qtr 3Qtr 42006 TotalQtr 1Qtr 2Qtr 3Qtr 42007 TotalQtr 1Qtr 2Qtr 3Qtr 42008 TotalQtr 1Qtr 2Qtr 3Qtr 42009 TotalQtr 1Qtr 2Qtr 3Qtr 42010 TotalQtr 1Qtr 2Qtr 3Qtr 42011 TotalQtr 1Qtr 2Qtr 3Qtr 42012 TotalQtr 1Qtr 2Qtr 3Qtr 42013 TotalQtr 12014 TotalBiotechnology$38,955,900$23,608,100$31,620,000$65,128,000$159,312,000$71,937,000$43,546,000$38,408,200$58,920,000$212,811,200$76,941,200$83,588,200$84,051,500$101,694,000$346,274,900$133,097,600$47,303,000$66,790,700$136,536,000$383,727,300$105,023,100$131,156,000$45,102,000$136,612,400$417,893,500$151,132,300$195,070,800$283,302,200$178,438,200$807,943,500$189,137,000$288,533,200$231,660,600$108,202,000$817,532,800$160,306,200$337,164,800$79,520,000$107,329,100$684,320,100$85,483,800$72,603,000$104,167,000$155,940,300$418,194,100$126,622,100$181,223,400$200,881,300$215,772,300$724,499,100$69,570,100$125,406,900$252,726,800$174,882,700$622,586,500$178,873,200$400,979,200$293,532,700$224,982,900$1,098,368,000$296,293,100$281,807,400$233,848,300$310,697,200$1,122,646,000$225,086,900$309,948,700$190,744,000$229,951,000$955,730,600$111,872,200$58,751,800$109,434,900$194,195,100$474,254,000$170,466,100$216,093,000$112,288,000$114,783,900$613,631,000$108,673,200$295,726,100$163,414,200$276,786,100$844,599,600$116,385,700$88,957,700$97,536,000$164,037,200$466,916,600$77,147,000$240,634,200$137,542,500$368,994,000$824,317,700$109,201,000$109,201,000Business Products and Services$61,585,000$24,294,000$46,178,100$3,670,000$135,727,100$28,023,000$43,474,000$53,674,000$34,100,000$159,271,000$105,202,500$57,220,000$49,289,000$55,843,000$267,554,500$31,315,300$122,721,000$121,332,000$91,600,000$366,968,300$144,702,000$266,443,100$179,446,000$459,516,200$1,050,107,300$642,571,100$408,784,300$556,209,300$300,095,100$1,907,659,800$58,503,100$128,717,300$48,579,000$41,284,900$277,084,300$40,300,000$7,144,900$56,100,000$13,750,000$117,294,900$11,540,000$177,350,000$51,900,000$101,820,100$342,610,100$22,000,000$58,329,000$127,443,000$28,050,000$235,822,000$31,500,000$71,935,300$13,171,000$35,345,000$151,951,300$31,149,000$80,009,000$62,550,000$34,583,000$208,291,000$38,875,000$74,635,700$78,549,900$60,544,000$252,604,600$45,235,100$12,850,100$11,276,100$16,783,000$86,144,300$66,250,000$18,046,900$19,498,200$24,020,000$127,815,100$17,720,000$47,250,000$5,003,000$11,896,000$81,869,000$6,562,200$9,312,000$5,075,000$28,800,000$49,749,200$10,153,100$4,974,400$21,760,000$5,600,200$42,487,700$10,987,100$4,157,000$7,537,000$43,311,900$65,993,000$30,000,000$30,000,000Computers and Peripherals$11,351,000$63,425,200$44,214,900$29,062,100$148,053,200$36,031,000$25,600,000$19,329,300$34,202,000$115,162,300$16,780,000$15,032,000$23,155,100$55,191,000$110,158,100$52,267,000$29,282,000$17,999,000$22,969,000$122,517,000$11,600,000$16,680,000$184,020,800$61,211,100$273,511,900$115,875,200$14,805,000$63,150,100$152,921,100$346,751,400$86,288,000$80,050,000$67,912,200$25,571,000$259,821,200$4,160,000$3,215,000$9,900,000$1,300,000$18,575,000$20,534,000$35,500,000$15,485,100$13,495,300$85,014,400$23,000,000$11,874,000$41,952,900$14,300,100$91,127,000$31,355,100$18,355,000$2,000,000$32,699,900$84,410,000$22,296,700$14,000,000$13,570,100$5,875,000$55,741,800$15,539,000$39,928,100$33,565,000$12,391,100$101,423,200$25,524,900$18,539,200$24,750,000$36,088,000$104,902,100$7,500,000$8,750,000$26,900,000$15,026,000$58,176,000$11,700,000$750,000$33,459,000$5,000,000$50,909,000$42,010,100$41,200,000$11,078,000$5,010,000$99,298,100$18,699,800$1,850,000$2,100,000$22,649,800$57,600,000$9,225,000$2,244,000$69,069,000$5,680,100$5,680,100Consumer Products and Services$65,172,100$85,880,000$116,800,000$38,794,000$306,646,100$58,596,000$61,243,600$44,969,000$41,710,000$206,518,600$78,885,100$19,308,100$35,294,000$61,619,000$195,106,200$45,839,000$65,183,000$103,594,000$45,731,900$260,347,900$91,689,000$157,468,000$262,966,400$298,661,800$810,785,200$380,696,900$380,295,500$109,992,800$83,281,100$954,266,300$53,805,900$12,053,000$25,171,200$40,535,000$131,565,100$8,663,100$7,988,000$9,000,000$19,200,000$44,851,100$19,830,000$7,689,000$41,499,900$9,030,000$78,048,900$31,500,000$1,775,000$26,600,000$63,775,000$123,650,000$84,619,900$47,294,000$59,250,900$34,499,900$225,664,700$8,020,000$28,712,100$38,129,700$55,633,900$130,495,700$22,725,000$38,960,000$41,824,900$102,342,000$205,851,900$45,799,000$60,080,100$61,200,000$26,359,100$193,438,200$6,800,000$17,485,000$48,797,000$51,941,200$125,023,200$35,600,000$31,248,100$75,524,000$50,836,200$193,208,300$64,501,200$51,830,000$67,788,900$83,804,000$267,924,100$59,269,500$41,695,900$26,937,200$71,912,400$199,815,000$37,354,300$49,230,400$17,029,800$80,096,800$183,711,300$73,809,800$73,809,800Electronics/Instrumentation$19,337,900$18,946,000$4,200,000$24,600,000$67,083,900$16,424,000$8,600,000$48,425,000$12,300,000$85,749,000$7,250,100$12,749,000$14,700,000$89,115,000$123,814,100$17,135,000$7,000,000$11,298,900$12,115,000$47,548,900$17,200,000$20,802,000$11,474,000$29,700,000$79,176,000$2,400,000$43,285,100$73,665,900$24,739,000$144,090,000$21,720,000$35,099,900$12,796,000$33,725,000$103,340,900$24,300,000$6,600,000$22,681,100$28,750,200$82,331,300$500,000$11,050,000$14,481,200$19,363,500$45,394,700$40,290,000$38,750,000$19,767,100$98,807,100$35,757,100$19,320,000$35,363,000$39,664,900$130,105,000$24,388,700$26,283,000$69,264,400$14,974,400$134,910,500$55,690,000$24,137,000$28,257,100$28,029,000$136,113,100$11,884,900$19,300,000$7,556,000$27,464,000$66,204,900$7,809,000$26,089,000$3,416,000$575,000$37,889,000$4,500,000$21,714,900$20,510,000$19,500,000$66,224,900$12,000,000$450,000$16,540,100$972,000$29,962,100$6,566,000$36,999,900$0$27,050,000$70,615,900$2,661,100$2,141,900$18,194,200$2,000,000$24,997,200$75,000$75,000Financial Services$39,407,900$2,100,000$43,149,000$29,385,100$114,042,000$132,811,000$41,294,000$30,271,000$48,843,000$253,219,000$27,097,000$44,339,000$143,698,000$38,057,000$253,191,000$84,632,000$160,296,000$107,108,000$109,257,500$461,293,500$141,215,000$203,854,000$241,891,000$178,072,800$765,032,800$447,219,200$368,123,100$343,248,200$326,244,300$1,484,834,800$142,644,200$26,171,000$28,864,000$99,800,000$297,479,200$26,288,000$20,074,800$10,177,000$19,800,000$76,339,800$7,550,000$20,655,100$1,700,000$64,500,000$94,405,100$77,745,000$121,449,800$26,000,000$24,025,000$249,219,800$88,150,100$340,665,000$147,138,100$70,560,000$646,513,200$72,751,400$30,280,100$30,150,000$74,401,100$207,582,600$23,900,000$94,155,000$96,197,100$129,839,000$344,091,100$72,235,000$70,170,100$49,129,000$54,399,900$245,934,000$9,000,000$1,800,000$15,153,000$118,330,000$144,283,000$36,164,000$23,600,000$43,405,000$46,726,000$149,895,000$21,048,000$5,595,000$27,950,000$900,000$55,493,000$4,400,000$3,338,000$18,768,000$1,000,000$27,506,000$6,365,000$6,201,000$154,499,900$12,230,000$179,295,900$1,500,000$1,500,000Healthcare Services$37,773,900$163,896,000$18,800,100$79,926,000$300,396,000$54,705,000$80,523,000$60,626,000$85,084,000$280,938,000$58,182,000$171,941,000$41,884,200$70,460,000$342,467,200$32,979,000$31,730,000$90,803,000$83,663,000$239,175,000$121,220,000$44,880,000$84,114,900$118,300,000$368,514,900$199,588,400$80,280,000$59,535,000$88,599,000$428,002,400$31,550,000$34,314,000$11,463,000$7,100,000$84,427,000$27,705,000$12,500,000$58,299,900$56,588,000$155,092,900$21,000,000$13,300,000$11,545,000$24,700,000$70,545,000$5,750,000$41,820,900$21,449,900$18,500,000$87,520,800$27,125,000$13,500,000$26,135,000$77,967,000$144,727,000$22,899,900$11,130,900$18,700,000$26,000,000$78,730,800$4,850,000$50,692,000$11,588,000$9,100,000$76,230,000$8,850,000$10,791,000$3,057,000$5,965,000$28,663,000$25,000,000$17,850,100$4,871,900$11,800,000$59,522,000$12,950,100$40,169,100$84,664,500$10,885,000$148,668,700$41,260,000$7,033,000$42,900,000$91,193,000$2,500,000$0$13,959,900$95,660,000$112,119,900$2,532,000$10,030,000$37,834,000$37,700,200$88,096,200$18,500,200$18,500,200Industrial/Energy$156,484,200$109,662,000$80,427,100$87,502,000$434,075,300$25,602,000$98,177,000$63,074,200$87,692,800$274,546,000$43,722,800$128,620,000$112,356,000$67,553,000$352,251,800$135,818,000$377,001,100$197,181,500$87,076,900$797,077,500$32,090,000$85,553,000$69,226,000$521,337,800$708,206,800$401,376,200$189,282,100$220,324,000$295,859,000$1,106,841,300$221,249,700$85,732,000$77,920,000$87,863,100$472,764,800$250,253,100$63,991,100$71,165,000$47,600,100$433,009,300$20,217,000$46,623,000$100,234,000$83,929,800$251,003,800$56,885,000$72,140,100$98,298,000$81,599,800$308,922,900$147,445,000$147,157,000$149,659,900$81,014,000$525,275,900$79,463,000$257,737,200$173,424,800$187,371,000$697,996,000$120,472,200$222,064,100$407,115,200$489,756,800$1,239,408,300$271,456,900$415,816,000$448,386,900$140,193,300$1,275,853,100$71,143,300$174,035,800$209,273,200$116,718,300$571,170,600$131,233,100$169,282,900$67,211,100$70,585,000$438,312,100$208,340,400$183,338,100$95,863,100$137,380,200$624,921,800$109,474,900$55,773,800$73,168,000$27,880,000$266,296,700$29,394,200$8,034,900$41,029,800$47,886,300$126,345,200$6,425,100$6,425,100IT Services$19,581,100$1,630,000$11,349,000$12,355,000$44,915,100$27,247,900$135,706,000$61,652,900$89,020,100$313,626,900$64,924,200$69,048,900$31,593,000$65,725,000$231,291,100$47,832,600$66,445,000$122,567,000$140,268,100$377,112,700$219,440,900$219,208,100$411,097,100$694,938,700$1,544,684,800$977,776,000$891,323,200$377,879,100$367,839,100$2,614,817,400$72,621,200$92,152,900$59,850,700$75,450,900$300,075,700$15,022,000$51,550,000$15,390,000$47,060,000$129,022,000$25,262,000$40,980,000$24,860,000$52,110,100$143,212,100$84,218,000$11,818,000$48,018,000$54,739,000$198,793,000$168,851,800$54,327,100$65,635,900$49,751,000$338,565,800$60,589,000$99,799,900$113,720,000$69,747,100$343,856,000$170,421,800$120,168,200$110,095,400$93,950,800$494,636,200$187,762,200$184,364,100$138,609,600$125,956,300$636,692,200$83,480,100$58,274,800$46,867,100$65,160,600$253,782,600$45,074,900$87,317,900$232,207,200$72,938,800$437,538,800$103,715,400$131,436,600$127,252,500$74,642,400$437,046,900$72,479,000$92,369,100$41,583,300$74,613,600$281,045,000$57,695,800$88,439,400$131,938,600$94,106,300$372,180,100$35,514,000$35,514,000Media and Entertainment$40,057,000$628,071,100$50,242,000$56,760,000$775,130,100$137,117,000$81,012,000$43,637,000$102,500,000$364,266,000$92,808,000$101,624,000$56,732,000$168,130,200$419,294,200$180,013,000$170,082,100$95,385,000$230,575,200$676,055,300$171,983,000$728,581,100$490,886,100$1,075,432,900$2,466,883,100$1,301,715,100$938,344,200$309,794,100$298,719,300$2,848,572,700$171,446,100$95,303,300$63,296,100$14,595,000$344,640,500$73,023,700$62,570,000$45,443,000$27,490,900$208,527,600$57,600,000$55,750,200$60,003,200$49,970,000$223,323,400$24,531,000$180,895,100$37,725,000$37,357,000$280,508,100$171,661,000$179,710,100$103,407,000$130,425,200$585,203,300$169,912,100$114,822,800$210,102,200$154,564,300$649,401,400$135,281,300$148,248,900$185,194,100$183,931,300$652,655,600$185,190,400$126,492,400$124,072,600$58,266,900$494,022,300$77,693,000$87,255,000$37,600,000$110,274,100$312,822,100$115,238,600$91,421,200$86,374,900$88,040,400$381,075,100$145,369,500$181,574,600$117,208,900$133,276,900$577,429,900$66,608,300$188,405,900$145,959,800$117,254,000$518,228,000$55,695,300$137,344,200$59,578,100$133,043,000$385,660,600$153,201,000$153,201,000Medical Devices and Equipment$61,501,000$48,297,100$41,784,100$36,772,900$188,355,100$45,186,000$70,049,900$21,140,000$76,247,000$212,622,900$51,456,900$35,193,900$81,854,900$91,582,200$260,087,900$65,970,000$65,616,000$54,178,500$89,785,100$275,549,600$78,782,000$59,584,000$89,783,000$82,267,900$310,416,900$34,303,000$46,613,000$142,647,100$115,904,000$339,467,100$100,763,000$109,902,000$45,542,100$25,579,000$281,786,100$99,901,600$73,510,000$67,315,100$53,044,900$293,771,600$64,493,900$90,279,000$85,978,100$74,451,800$315,202,800$52,271,000$54,804,900$94,472,000$131,856,100$333,404,000$64,940,000$88,553,500$108,623,100$127,240,700$389,357,300$138,712,100$100,714,900$129,954,200$179,263,800$548,645,000$165,981,100$190,236,800$176,011,100$195,197,000$727,426,000$299,742,900$155,638,200$127,884,700$99,587,000$682,852,800$45,439,100$123,925,700$78,425,900$73,955,800$321,746,500$64,920,200$68,547,100$52,290,900$80,110,500$265,868,700$74,981,100$36,872,900$84,488,100$47,223,000$243,565,100$36,717,200$63,294,000$66,595,100$36,599,000$203,205,300$46,853,000$91,685,700$22,088,000$49,819,800$210,446,500$148,440,100$148,440,100Networking and Equipment$20,750,100$20,349,900$14,625,000$39,732,000$95,457,000$18,533,000$58,792,100$26,531,000$21,838,000$125,694,100$39,321,900$77,220,800$48,772,000$58,936,000$224,250,700$87,090,200$69,132,000$74,321,400$95,331,000$325,874,600$127,029,200$214,369,200$468,321,100$765,112,800$1,574,832,300$693,232,300$703,195,000$491,581,000$741,828,700$2,629,837,000$438,899,800$167,368,100$78,253,100$191,998,100$876,519,100$72,799,800$95,699,200$51,865,000$25,048,000$245,412,000$19,700,000$47,192,000$21,665,000$31,976,000$120,533,000$34,885,000$59,210,100$75,625,100$28,693,000$198,413,200$25,150,000$17,860,100$52,200,000$76,025,200$171,235,300$63,282,900$32,759,900$26,550,000$3,000,000$125,592,800$31,812,500$38,042,100$43,700,000$50,105,800$163,660,400$9,850,000$2,000,000$14,019,000$24,850,000$50,719,000$7,260,000$14,229,000$20,600,100$2,532,000$44,621,100$48,718,000$96,460,000$120,000$0$145,298,000$26,018,100$38,750,100$0$16,000,000$80,768,200$14,560,200$12,000,000$6,630,000$33,190,200$3,000,000$7,000,000$10,000,000$16,549,000$16,549,000Other$4,750,000$1,000,000$4,591,000$2,649,000$12,990,000$483,000$483,000$325,000$14,967,000$15,292,000$20,000,000$4,034,000$20,000,000$17,737,000$61,771,000$500,000$27,633,000$14,150,000$50,036,000$92,319,000$24,357,000$2,062,000$10,600,000$37,019,000$103,000$5,546,000$3,140,000$27,800,000$36,589,000$17,000,000$17,000,000$0$0$0$13,200,000$400,000$13,600,000$0$100,000$0$100,000$0$400,000$0$2,613,000$3,013,000$0$0$0$240,000$3,000,000$301,000$3,541,000$80,000$1,960,000$0$2,040,000$0$8,538,000$680,000$1,700,000$10,918,000$1,000,000$2,150,000$1,837,000$20,210,000$25,197,000$11,270,000$74,675,000$6,500,000$92,445,000$2,821,000$2,821,000Retailing/Distribution$17,419,000$61,899,300$93,471,000$44,933,200$217,722,500$10,802,000$81,900,100$15,273,000$23,045,000$131,020,100$11,927,900$61,600,100$15,890,000$24,788,000$114,206,000$31,122,000$50,125,000$76,805,000$177,275,700$335,327,700$109,614,000$99,795,000$230,614,300$258,678,900$698,702,200$442,869,400$231,594,200$127,220,800$68,101,100$869,785,500$17,900,000$7,928,000$16,965,000$16,331,000$59,124,000$950,000$8,700,000$22,350,000$2,700,000$34,700,000$1,500,000$375,000$1,000,000$9,500,000$12,375,000$45,200,100$11,500,000$14,630,000$46,999,900$118,330,000$16,399,000$64,004,000$27,735,000$24,650,000$132,788,000$1,550,000$11,300,000$27,035,000$39,885,000$12,949,800$25,000,000$8,058,000$38,476,000$84,483,800$16,885,000$3,523,000$4,700,100$9,500,000$34,608,100$230,000$1,550,000$5,250,000$9,400,000$16,430,000$33,705,000$14,385,000$2,352,000$5,651,000$56,093,000$5,940,000$102,139,100$49,555,300$5,550,000$163,184,400$10,754,000$15,190,200$7,171,300$6,426,000$39,541,500$4,708,000$2,183,000$14,102,000$4,350,000$25,343,000$11,418,000$11,418,000Semiconductors$27,364,000$11,350,000$10,789,900$20,020,000$69,523,900$59,824,800$6,465,000$21,919,000$42,289,000$130,497,800$51,610,100$20,099,900$62,458,100$32,045,000$166,213,100$37,136,000$38,192,100$51,738,000$42,949,100$170,015,200$51,135,100$39,955,000$63,225,000$137,924,200$292,239,300$135,791,700$287,447,100$311,632,200$410,361,200$1,145,232,200$170,626,900$134,094,900$118,778,000$91,400,100$514,899,900$97,319,900$112,599,900$80,150,000$54,638,000$344,707,800$119,195,200$57,792,900$69,007,900$129,414,700$375,410,700$148,093,600$83,768,000$49,566,000$136,658,200$418,085,800$70,240,200$110,150,000$53,472,100$47,651,700$281,514,000$100,832,800$69,090,800$74,067,300$16,519,200$260,510,100$94,127,000$70,931,900$10,249,900$37,565,100$212,873,900$61,746,200$45,350,000$74,810,000$14,047,200$195,953,400$17,049,900$0$31,650,100$20,295,300$68,995,300$37,681,100$9,973,000$51,499,900$16,400,200$115,554,200$17,718,000$32,612,000$13,772,000$35,517,000$99,619,000$44,724,900$40,573,900$1,250,000$5,637,000$92,185,800$150,000$1,450,000$6,800,000$11,176,000$19,576,000$6,088,000$6,088,000Software$93,647,100$158,665,500$113,022,800$176,767,800$542,103,200$181,137,000$210,916,000$233,732,200$297,303,300$923,088,500$240,306,000$270,192,000$235,959,000$314,090,100$1,060,547,100$349,358,300$317,739,700$237,949,800$470,702,900$1,375,750,700$356,040,700$564,111,500$726,131,000$1,273,641,300$2,919,924,500$1,444,384,400$1,853,853,600$1,531,119,500$1,293,018,900$6,122,376,400$685,177,800$469,122,300$261,338,100$245,776,700$1,661,414,900$345,200,100$342,651,300$301,880,100$280,808,400$1,270,539,900$243,280,800$232,847,700$187,206,000$272,947,900$936,282,400$320,301,100$360,836,500$252,785,000$302,095,200$1,236,017,800$356,885,100$242,905,900$287,715,400$292,275,300$1,179,781,700$371,221,000$330,341,900$278,747,400$341,242,800$1,321,553,100$344,779,300$444,250,000$320,476,700$389,438,300$1,498,944,300$343,084,500$243,572,300$350,087,300$261,714,100$1,198,458,200$106,711,200$204,892,000$124,964,900$370,107,700$806,675,800$194,172,300$195,717,900$335,961,800$284,025,600$1,009,877,600$353,268,200$484,139,600$513,982,800$374,085,000$1,725,475,600$353,662,400$449,932,000$523,299,900$561,066,200$1,887,960,500$518,284,000$468,807,000$652,909,700$684,555,600$2,324,556,300$571,229,100$571,229,100Telecommunications$81,880,500$45,995,000$164,605,700$72,725,200$365,206,400$136,369,100$111,761,100$46,729,900$121,534,900$416,395,000$99,839,900$105,048,000$84,230,900$99,277,000$388,395,800$180,821,000$345,187,500$230,340,300$199,546,100$955,894,900$183,930,000$430,087,800$517,249,300$828,784,900$1,960,052,000$1,268,520,200$1,774,627,400$1,107,263,300$604,888,000$4,755,298,900$312,951,000$235,452,200$126,989,700$119,550,000$794,942,900$47,295,000$26,300,100$78,700,200$37,199,900$189,495,200$31,314,900$61,244,000$57,149,900$30,856,900$180,565,700$31,099,000$46,669,900$105,442,900$102,731,000$285,942,800$74,573,900$85,129,000$107,952,200$74,372,100$342,027,200$94,701,000$75,401,000$121,965,000$117,974,100$410,041,100$86,930,000$148,490,900$113,675,800$77,337,100$426,433,800$39,141,900$60,156,900$60,552,100$140,078,100$299,929,000$10,554,000$32,938,000$23,725,000$17,027,000$84,244,000$6,892,000$22,385,000$87,644,500$41,299,100$158,220,600$12,349,900$24,560,900$8,331,200$18,332,200$63,574,200$23,718,000$43,025,300$51,416,200$15,236,000$133,395,500$7,791,000$16,219,000$27,755,100$3,575,000$55,340,100Grand Total$797,017,700$1,469,069,200$889,869,700$820,782,300$3,976,738,900$1,040,345,800$1,159,542,800$829,391,700$1,176,629,100$4,205,909,400$1,066,580,600$1,272,824,900$1,121,917,700$1,409,072,500$4,870,395,700$1,532,426,000$1,967,069,500$1,679,392,100$2,053,119,500$7,232,007,100$1,963,194,000$3,310,160,800$4,089,698,000$6,970,229,700$16,333,282,500$8,639,451,400$8,431,280,600$6,110,626,600$5,361,437,100$28,542,795,700$2,775,386,700$2,007,540,100$1,278,518,800$1,252,561,800$7,314,007,400$1,310,487,500$1,232,259,100$979,936,400$822,307,500$4,344,990,500$749,001,600$971,230,900$847,882,300$1,124,006,400$3,692,121,200$1,084,100,900$1,338,404,700$1,272,839,100$1,307,318,700$5,002,663,400$1,464,223,300$1,626,372,900$1,492,185,400$1,369,024,600$5,951,806,200$1,440,642,800$1,672,062,700$1,665,727,800$1,533,167,600$6,311,600,900$1,620,627,100$2,012,148,100$1,898,406,500$2,211,313,500$7,742,495,200$1,849,475,800$1,738,592,100$1,690,834,400$1,271,202,900$6,550,105,200$653,791,800$846,113,100$809,427,300$1,201,659,100$3,510,991,300$966,815,400$1,136,315,100$1,292,475,800$918,677,700$4,314,284,000$1,243,755,300$1,635,108,000$1,345,880,100$1,239,978,800$5,464,722,200$937,112,800$1,143,090,300$1,105,341,700$1,236,811,600$4,422,356,400$929,487,800$1,210,457,700$1,328,838,700$1,588,588,900$5,057,373,100$1,190,451,400$1,190,451,400Number of DealsIndustry19951996199719981999200020012002200320042005200620072008200920102011201220132014Qtr 1Qtr 2Qtr 3Qtr 41995 TotalQtr 1Qtr 2Qtr 3Qtr 41996 TotalQtr 1Qtr 2Qtr 3Qtr 41997 TotalQtr 1Qtr 2Qtr 3Qtr 41998 TotalQtr 1Qtr 2Qtr 3Qtr 41999 TotalQtr 1Qtr 2Qtr 3Qtr 42000 TotalQtr 1Qtr 2Qtr 3Qtr 42001 TotalQtr 1Qtr 2Qtr 3Qtr 42002 TotalQtr 1Qtr 2Qtr 3Qtr 42003 TotalQtr 1Qtr 2Qtr 3Qtr 42004 TotalQtr 1Qtr 2Qtr 3Qtr 42005 TotalQtr 1Qtr 2Qtr 3Qtr 42006 TotalQtr 1Qtr 2Qtr 3Qtr 42007 TotalQtr 1Qtr 2Qtr 3Qtr 42008 TotalQtr 1Qtr 2Qtr 3Qtr 42009 TotalQtr 1Qtr 2Qtr 3Qtr 42010 TotalQtr 1Qtr 2Qtr 3Qtr 42011 TotalQtr 1Qtr 2Qtr 3Qtr 42012 TotalQtr 1Qtr 2Qtr 3Qtr 42013 TotalQtr 12014 TotalBiotechnology1891215541717142169202121238532212429106202113278125313334123222832281103238202511517242030912826253111030293527121264241401492651334215235433239149222322279426402427117303123291132023182788162033331022222Business Products and Services109103328121183911139175013222019741737316214772526633223171610952556925569929710137378971236613138407229175516111354510575276887299106429536216794133355Computers and Peripherals10131184291079357811174314756323610163513913165110495283432127635212484186616196241134858256345183237154351134433143216224844Consumer Products and Services197209551013101952261312207114162317701933434313837312012100686929666624347620641010301013108415915144381013275813189125237101232910913411424101058142322238224231715791717Electronics/Instrumentation114422134751932410196236172445151714426557825437418135918895221175932386522512642789593145341647411612431023171351421211Financial Services142883211107937131191043131614216417292629101524440361721696940107572939161961161336985103211768326818164871274304329181251073435672143911755652133Healthcare Services13109104291612236012121217536912103798171852241413758765220526720434617254415556925735318384217131492542134466205331111561344551855Industrial/Energy281917168010181833791825312296251820238612192247100322627391242915181981191881459108142052162012237116151820692529342711523354248148303945421561722212282252220228927272018922316191775171313155877IT Services1124112814131724682014919621630182690384465832301021016261326222314157441156269977321571118512120121467232321239023242129972829362611921151523741826223096332339361312429212296232948261261313Media and Entertainment1724131670131816297628192337107281827401134692102139379145133655039331221467312813104377111439820121656212519361012940444415739425347181524941231651817213692334135381473863634821229595551194314646501734040Medical Devices and Equipment2011159551526123285271929341092621242697182525198714133112701724121063142113156313202322781618172980142023278435283231126333027311213532221910815211825791319172271172312187015151614607191220581414Networking and Equipment95993212168114710161511522119222082193021321024849525920840201220921313563737462091396374569245671197646233134111341931217451111312621311Other21216114151123713241052291412822111146111322241021321254329114171245123611044Retailing/Distribution79416365911113681141033991314451819324711645382513121526619223291112544752057462223510522413623415231410443415411832637482247362066Semiconductors8368258361229139191354910141245111012185121283037116212418137612161213531715161765242111248091591043161291047101631241136883521571553441654662155241614241133Software486649602237186808932693767091330888465983358913916220659622626920817587896917753317718061572696952515923152715966248646679782876989677329866967197330867984733224155458422561939493341102119129131481102126129166523130143178155606126126Telecommunications141522186919251925882428222094313436391403551637922810510894863934629282412713910124410109103971518185813152220701726252896142218217512101010422751024669113271011154310118837464317Grand Total2592092152199022342972553601,1463372973003721,3063523373424091,4403745706508742,4689629587956763,3913913302752381,2342272431831958481791841852297772022582322839752472662613021,0762853373323211,2752813943314151,4213513483232881,3101671961872808302372922752891,0933043653483331,3502613313213631,2762853373753581,355271271Source: PricewaterhouseCoopers/National Venture Capital Association MoneyTree Report, Data: Thomson Reuters

&C&"Times New Roman,Regular"&12PricewaterhouseCoopers/National Venture Capital Association MoneyTree Report, Data: Thomson Reuters&L&"Times New Roman,Regular"&10PricewaterhouseCoopers/National Venture Capital Association MoneyTree Report, Data: Thomson Reuters&P