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  "documentTitle": "Silicon Valley Venture Capital Survey Second Quarter 2019",
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  "notes": "Includes definitions of Silicon Valley geography by area code and limitations of the Barometer methodology.",
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      "text": "SILICON VALLEY VENTURE CAPITAL SURVEY SECOND QUARTER 2019",
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      "text": "By definition the Barometer does not include companies that do not do follow-on financings (which may be because they went out of business, were acquired or went public). Accordingly we believe that our results are most valuable for identifying trends in the venture environment, as opposed to calculating absolute venture returns. Please also note that our calculations are not \"dollar weighted,\" i.e. all venture rounds are treated equally, regardless of size.",
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      "text": "Our analysis of Silicon Valley financings is based on independent data collection performed by our lawyers and paralegals, and is not skewed toward or overly representative of financings in which our firm is involved.",
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      "text": "The Fenwick & West Venture Capital Survey has been published quarterly since the first quarter of 2002. Its goal is to provide information to the global entrepreneurial and venture community on the terms of venture financings in Silicon Valley.",
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      "text": "When interpreting the Barometer results please bear in mind that the results reflect the average price increase of companies raising money in a given quarter compared to their prior round of financing, which was on average about 18 months prior.",
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      "text": "For purposes of determining whether a company is based in \"Silicon Valley\" we use the area code of the corporate headquarters. The area codes included are 650, 408, 415, 510, 925, 916, 707, 831 and 209.",
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      "text": "The survey is available to all, without charge, by signing up at www.fenwick.com/vcsurvey/sign-up. We are pleased to be a source of information to entrepreneurs, investors, educators, students, journalists and government officials.",
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