You are here

US venture capital investments exceed 2019 levels despite pandemic gloom

[BENGALURU] Despite an initial freeze in investments early in the year due to the Covid-19 pandemic, US venture capital funding this year has already overtaken 2019 levels as many tech companies got a boost from remote work and an e-commerce boom.

US venture capital investments as at Dec 1 totalled US$139.6 billion across 9,898 deals, compared with US$137.3 billion across 12,189 deals last year, according to previously unreleased data from PitchBook.

That makes 2020 the third straight year for US venture capital investments to exceed the US$100 billion mark.

Several investors have said that they are betting the pandemic will have the lasting effect of pushing more economic activity online, making up for the businesses boarding up on Main Street.

The investors added that they are investing in startups that aim to enable the further digitisation of sectors like banking, retail and healthcare.

Your feedback is important to us

Tell us what you think. Email us at

Fintech was a big focus for US venture capital investors in 2020 with trading app Robinhood Markets raising more than US$1.2 billion over two deals, alternative lending company Affirm raising US$500 million and digital bank Chime raising US$485 million.

Other big rounds of funding this year include autonomous driving company Waymo, which raised US$3 billion, and Elon Musk's rocket company SpaceX, which raised US$1.9 billion.


BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to