Global venture-backed exit activity Global venture-backed exit activity (#) by type ($B) by type 2012 — H1’17 2012 — H1’17 $140.0 2,000 1,800 $120.0 1,600 $100.0 1,400 1,200 $80.0 1,000 $60.0 800 600 $40.0 400 $20.0 200 0 $0.0 2012 2013 2014 2015 2016 2017* 2012 2013 2014 2015 2016 2017* Strategic Acquisition Buyout IPO Strategic Acquisition Buyout IPO Source: Venture Pulse, Q2'17, Global Analysis of Venture Funding, KPMG Enterprise. *As of 6/30/2017. Data provided by PitchBook, July 13, 2017. Some long-awaited IPOs have finally occurred, yielding potential liquidity for a small crop of venture investors, yet acquisition via a strategic buyer remains by and large the most lucrative and frequently accessed exit route. © 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