pwc - medtech by the numbers – medtech conference 2016
TRANSCRIPT
The state of venture capital investment in device markets
MedTech Investing Conference
June 1, 2016
www.pwc.com
Source: PwC/NVCA Money Tree SurveyPwC 2
PricewaterhouseCoopers/National Venture Capital Association MoneyTree™ Report based on data from Thomson ReutersMoneyTree Web site: www.pwcmoneytree.com
Presented by: Mark Scholtes, PartnerPricewaterhouseCoopers LLPPhone: (612) 596-6399E-mail: [email protected]
June 2016
Source: PwC/NVCA Money Tree SurveyPwC 3
National deals and their stages
June 2016
Number of deals – All industries
2006 2007 2008 2009 2010 2011 2012 2013 2014 20150
500
1000
1500
2000
2500
3000
3500
4000
4500
5000
Seed Early Expansion Later
Source: PwC/NVCA Money Tree SurveyPwC 4
National deals and their stages – Q1 2016
June 2016
Number of deals – All industries
Q1 20160
200
400
600
800
1000
1200
Seed Early Expansion Later
Source: PwC/NVCA Money Tree SurveyPwC 5
Minnesota deals and their stages
June 2016
Number of deals – All industries
2006 2007 2008 2009 2010 2011 2012 2013 2014 20150
10
20
30
40
50
60
70
Seed Early Expansion Later
Source: PwC/NVCA Money Tree SurveyPwC 6
Minnesota deals and their stages – Q1 2016
June 2016
Number of deals – All industries
Q1 20160
2
4
6
8
10
12
Seed Early Expansion Later
Source: PwC/NVCA Money Tree SurveyPwC 7
Industry investments nationally
June 2016
Industries by percentage of total capital invested
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Medical Devices and Equipment Biotechnology Software All Others
Minnesota ...
Q1 2016
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Source: PwC/NVCA Money Tree SurveyPwC 8
Medical device investments nationally
June 2016
% of capital invested
2006 2007 2008 2009 2010 2011 2012 2013 2014 20150
2
4
6
8
10
12
14
10.1%
11.4% 11.8%
12.9%
10.8%
9.6%9.0%
7.2%
5.3%4.7%
Q1 20160
0.5
1
1.5
2
2.5
3
3.5
4
4.5 4.2%
Source: PwC/NVCA Money Tree SurveyPwC 9
National medical device investments
June 2016
In Billions
2006 2007 2008 2009 2010 2011 2012 2013 2014 20150
1
2
3
4
$2.8
$3.7 $3.6
$2.6 $2.5
$2.9
$2.5$2.2
$2.7 $2.8
Source: PwC/NVCA Money Tree SurveyPwC 10
National medical device investments – Q1 2016
June 2016
In Billions
Q1 20160
1
$0.5
Source: PwC/NVCA Money Tree SurveyPwC 11
Minnesota medical device investments
June 2016
In Millions
2006 2007 2008 2009 2010 2011 2012 2013 2014 20150
50
100
150
200
250
300
$184.0
$230.2
$274.5
$198.8
$110.8$132.6 $139.5
$157.7
$234.0
$129.8
Medical device sector has been the #1 recipient of venture capital in Minnesota since 2001 – other than for 2015 – in which $195.1 million was invested in software companies.
Source: PwC/NVCA Money Tree SurveyPwC 12
Minnesota share of all medical device investments
June 2016
% of total capital invested
2006 2007 2008 2009 2010 2011 2012 2013 2014 20150
1
2
3
4
5
6
7
8
9
10
6.5%6.3%
7.7% 7.6%
4.4%4.6%
5.6%
7.2%
8.6%
4.6%
Source: PwC/NVCA Money Tree SurveyPwC 13
National medical device average deal size
June 2016
In Millions
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Q1 20160
1
2
3
4
5
6
7
8
9
10
$7.9
$9.4 $9.1
$7.5 $7.3$7.8 $7.6
$6.4
$8.4$8.7 $8.6
Source: PwC/NVCA Money Tree SurveyPwC 14
Most active medical device VCs in 2015Listed based on reported device deals(7 or more deals) • Canaan Partners• Domain Associates• Innova Memphis• InterWest Partners• Keiretsu Forum
June 2016
• MB Venture Partners
• New Enterprise Associates
• Polaris Venture Partners• Tullis Health Industries• Versant Ventures
Source: PwC/NVCA Money Tree SurveyPwC 15
Most active medical device VCs in 2015 Listed based on reported device deals(5-6 deals) • Arboretum Ventures• Ascension Ventures• Connecticut Innovations• Deerfield Management
• Kleiner Perkins Caufield & Byers
June 2016
• Longitude Capital Management• Morgenthaler Ventures• Partisan Management Group• Radius Ventures• US Venture Partners
Source: PwC/NVCA Money Tree SurveyPwC 16
Top 10 states for 2015 medical device deals
June 2016
Deal $ in Millions
Minnesota has been ranked #3 or #4 for the last sixteen years.
State Deals Investment $ U.S. Total1. California 93 $1,079 38.5%2. Massachusetts 36 562 20.13. Pennsylvania 25 150 5.44. Minnesota 8 130 4.65. Washington 13 93 3.36. Georgia 7 91 3.37. Florida 9 74 2.68. Missouri 8 66 2.49. Texas 12 65 2.310. New Jersey 12 62 2.2
Total 84.7%
© 2016 PricewaterhouseCoopers LLP. All rights reserved. In this document, “PwC” refers to PricewaterhouseCoopers LLP, which is a member firm of PricewaterhouseCoopers International Limited, each member firm of which is a separate legal entity.
