【正文】 Global Trends in Venture Capital 2022 Survey January 31, 2022 John Ruffolo, Partner, National leader of the Technology, Media and Telemunications Industry Group Fran231。ois Sauvageau, Partner, Technology, Media and Telemunications Industry Group and Montreal Leader of Life Sciences Group Robert Nardi, Senior Manager, Technology Media and Telemunications Industry Group 169。 Samson B233。lair/Deloitte amp。 Touche . and affiliated entities. Global Trends in Venture Capital 2022 Survey 2 Agenda Summary of Deloitte’s 2022 Global Trends in Venture Capital Survey Overview of the Canadian VC landscape Overview of the Qu233。bec VC landscape Some Solutions Qamp。A 169。 Samson B233。lair/Deloitte amp。 Touche . and affiliated entities. Global Trends in Venture Capital 2022 Survey 3 About the survey ? The 2022 Survey is sponsored by Deloitte, in cooperation with the Canadian Venture Capital Association (CVCA) and numerous other VC associations internationally. ? Conducted in the Americas, Asia Pacific, Europe, the Middle East, and Africa. ? Based on 528 responses from general partners of venture capital firms (with assets under management ranging from less than $100 million to greater than $1 billion). 13%31%2%9%45%A P A CE u r o p eM id d le E a s t / A f r ic aT h e A m e r ic a s ( e x c l. U . S . )U . S .Figure 1. Location of respondents 169。 Samson B233。lair/Deloitte amp。 Touche . and affiliated entities. Global Trends in Venture Capital 2022 Survey 4 Purpose of the survey ? Discover the degree to which venture capitalists are expanding their worldwide investment strategy. ? Is the venture capital munity serious about implementing the strategy of investing on a broader global basis? ? The survey also addressed the following areas: – Identify countries or regions most attractive to venture capitalists interested in foreign investment. – Better understand how VC business practices are changing in order to facilitate a more global investment approach. – Identify the impediments and challenges VCs encounter when investing in various geographic markets. – Determine the incentives that motivate VCs to overe the challenges of foreign investing and encourage them to grow these investments. 169。 Samson B233。lair/Deloitte amp。 Touche . and affiliated entities. Global Trends in Venture Capital 2022 Survey 5 Global VC investment Today ? Half of the venture munity has made a mitment to a global investment strategy ? 51 percent of global respondents are currently investing outside of their home country – European respondents (63 percent) – APAC countries (58 percent) – . (46 percent) ? However, it should be noted that most respondents indicated they had fewer than five deals outside of their home country. 169。 Samson B233。lair/Deloitte amp。 Touche . and affiliated entities. Global Trends in Venture Capital 2022 Survey 6 Global VC investment 5 year outlook ? Of the 51 percent of investors currently investing globally, 83 percent plan to expand their investments in the next five years. ? Of the 49 percent of investors currently investing globally, 67 percent have no plans to invest globally in the next five years. 169。 Samson B233。lair/Deloitte amp。 Touche . and affiliated entities. Global Trends in Venture Capital 2022 Survey 7 Global VC investment ? Adequate deal flow in their home country was the reason indicated most frequently for this lack of interest, although a sizeable number (23 percent) are hindered by resource constraints, such as the lack of partners, capital, and time. ? VCs around the world are essentially dabbling in global markets, with the majority of VC respondents indicating that less than five percent of their capital is invested overseas, generally in less than three deals per fund. ? VCs are making the majority of their foreign investment in areas with higher quality deal flow, entrepreneurial environments, and access to foreign markets, as well as places where they have experience and thus greater fort levels. 169。 Samson B233。lair/Deloitte amp。 Touche . and affiliated entities. Global Trends in Venture Capital 2022 Survey 8 Global VC investment increasing… 49%68%36%60%54%0%10%20%30%40%50%60%70%80%90%100%A P A C E u r o p e Mi d d l e E a s t / A f r i c a T h e A m e r i c a s ( e x c l .U . S . )U . S .A P A CE u r o p eMi d d l e E a s t / A f r i c aT h e A m e r i c a s ( e x c l . U . S . )U . S .Figure 4. Percentage of venture capitalists indicating an increase in expanding global investment focus (all respondents) 169。 Samson B233。lair/Deloitte amp。 Touche . and affiliated entities. Global Trends in Venture Capital 2022 Survey 9 …But growth is slow and cautious “There is a small but dedicated group of venture capital pioneers who have embarked upon a global strategy and are driving the growth in these regions. But as a whole, the venture capital industry in the . has not embraced direct global investment yet,” Mark Heesen, president of the National Venture Capital Association. 53%23%10%4%10%1 2 in v e s t m e n t s3 5 in v e s t m e n t s6 1 0 in v e s t m e n t s1 1 1 5 in v e s t m e n t s1 6 + in v e s t m e n t sFigure 6. Foreign investments currently held by VC firms (all respondents) 169。 Samson B233。lair/Deloitte amp。 Touche . and affiliated entities. Global Trends in Venture Capital 2022 Survey 10 Global VC investment ? But those VCs who are looking beyond their borders are not necessarily looking very far beyond them. – Those in the Asia Pacific region and Europe primarily are selecting other countries in their own regions. ?Asia Pacific investors, for instance, are primarily targeting China for their investments, followed by the ., and then other Asian countries. European VCs look to Central and Eastern Europe first。 then the cluster of Austri