How Is KR 10.3 Tracking?
It’s not enough to discover something the world needs. For a new company to succeed, it must have something the world is ready to adopt. The critical next steps— building a team, then selling, making, and supporting a product—all require money.
Enter venture capital. These funds are often raised from institutional investors such as university endowments and pension funds, as well as from governments and high net worth individuals. The money is invested in private companies, with checks as small as $250,000 and as large as $250 million.
When Speed & Scale was published, in November 2021, our action plan called for venture capital to rise from $13.6 billion to $50 billion per year. That target has already been reached, with investment exceeding $53 billion and heading even higher.
The funding has been unevenly dispersed, however, with nearly half going toward transportation solutions. More investment is sorely needed in other areas, including zero-emissions buildings.
Data for KR 10.3 is sourced from BloombergNEF’s Investment Radar report, which updates monthly.
Venture capital funding tripled between 2020 and 2021: