Deal share by series in the Americas Deal share by series in the Americas 2014 — H1'17, number of closed deals 2014 — H1'17, VC invested ($B) 100% 100% 90% 90% 80% 80% 70% 70% 60% 60% 50% 50% 40% 40% 30% 30% 20% 20% 10% 10% 0% 0% * 4 6 * 4 5 6 7 1 15 1 7 1 1 1 1 0 0 1 0 0 0 0 2 20 2 0 2 2 2 2 2 Angel/seed Series A Series B Angel/seed Series A Series B Series C Series D+ Series C Series D+ Source: Venture Pulse, Q2'17, Global Analysis of Venture Funding, KPMG Enterprise. *As of 6/30/2017. Data provided by PitchBook, July 13, 2017. Aggregate angel and seed financing volume declined to 44% of all H1’17 venture volume in the Americas, the lowest such percentage since 2012. By and large, however, trends in the proportion of total VC invested held relatively steady, with only the Series A currently standing at no less than $7.6 billion, 19% of the total in the first half. © 2017 KPMG International Cooperative (“KPMG International”). KPMG International provides no client services and is a Swiss entity with which the independent member firms of the KPMG network are affiliated. #Q2VC