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  "documentTitle": "Assessing the Impact of Big Tech on Venture Investment",
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      "text": "There is a notable alignment of technology subsectors with the overall technology sector growth or decline. In the periods 2007-2011 and 2011-2015, all but two sub-sectors grew in number of deals. The two subsectors that declined represented less than 1 percent of total deal volume in 2015.\nSimilarly in the period 2015-2017 when overall deal numbers began to decline, the subsectors were aligned, though less strongly, with about 81 percent of industries declining.\nThe proportion of subsectors correlating with the overall market trend and making up the bulk of deal value indicates that broader market forces are behind the performance of individual subsectors.",
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      "text": "The proportion of subsectors correlating with the overall market trend and making up the bulk of deal value indicates that broader market forces are behind the performance of individual subsectors.",
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      "text": "Market growth CAGR: ~(21%)",
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      "text": "Source: Crunchbase (http://www.crunchbase.com), Oliver Wyman analysis",
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      "text": "Time period | 2007–2011 | 2011–2015 | 2015–2017\nMarket growth CAGR | ~22% p.a. | ~24% p.a. | ~(21%) p.a.\n% of subsectors growing | 96% | 96% | 19%\n% of subsectors declining | 4% | 4% | 81%",
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      "text": "The decline in deal numbers since 2015 was observed across a majority of subsectors suggesting this has been driven by broader macro forces",
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      "text": "Global venture investing market: Technology\nNo. of deals (n), 2007–2017",
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