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Venture Capital Database 2020 Now Available!

Silicon Valley Venture Capitalist Confidence Index™ Rebounds in Q2 of 2020 from All Time Low in Q1

SAN FRANCISCO, August 13, 2020-- The Silicon Valley Venture Capitalist Confidence Index™ for the second quarter of 2020 registered 3.0 on a 5-point scale (with 5 indicating high confidence and 1 indicating low confidence). The Q2 Index measurement, based on a June 2020 survey of 26 San Francisco Bay Area venture capitalists, rebounded strongly from the previous quarter's Index reading of 2.33, which was the lowest reading of VC confidence in the more than 16-year history of this ongoing quarterly research.

This is the 66th consecutive quarterly survey and research report (since Q1 2004), and provides unique quantitative and qualitative trend data and analysis on the confidence of Silicon Valley venture capitalists in the future high-growth entrepreneurial environment. Mark Cannice, professor of entrepreneurship and innovation with the University of San Francisco (USF) School of Management, authors the research study each quarter.

In the new report, Dr. Mark Cannice indicated that, "A belief that uncertainty brings opportunity lifted confidence somewhat, but sentiment was constrained by a lack of clarity on the future of the national and global economy and the role that Silicon Valley will play in it." Illustrating this point, Venky Ganesan of Menlo Ventures stated, "The pandemic has changed everything. What used to happen in decades is now happening in months."

"On balance, there is reason for optimism in the venture capital industry," said Sandy Miller of Institutional Venture Partners. "But our industry and the companies we support need to change to meet in the realities of a reset of our culture and our economy."

Taking a different stance, Bob Ackerman of AllegisCyber concluded that, "The COVID-19 pandemic and the resulting virtualization of Silicon Valley work forces (likely long term) is likely to lead to a decentralization and deceleration of work force growth in the Valley. Combined with a likely increase in taxes and the already high cost of living in the Bay Area, one can see we are on the road to the end of Silicon Valley's innovation hegemony. It's not the end, but it is the beginning of the end."

Dr. Cannice concluded the report by noting that, "For now, vision to anticipate what's next and hard work to execute a plan to get there is the order of the day."

To view the report in its entirety, please contact Kellie Samson at ksamson@usfca.edu.

About the University of San Francisco

The University of San Francisco is a private, Jesuit Catholic university that reflects the diversity, optimism, and opportunities of the city that surrounds it. USF offers more than 230 undergraduate, graduate, professional, and certificate programs in the arts and sciences, business, law, education, and nursing and health professions. At USF, each course is an intimate learning community in which top professors encourage students to turn learning into positive action, so the students graduate equipped to do well in the world — and inspired to change it for the better. For more information, visit usfca.edu.

About the USF School of Management

Founded in 1925, University of San Francisco's School of Management is on the forefront of educating the next generation of conscious, mindful business leaders. Each year those students join the over 40,000 School of Management alumni around the world to create ethical and innovative change in the private, public, and non-profit management sectors. The School is accredited by the Western Association of Schools and Colleges Senior College and University Commission (WSCUC) and the Association to Advance Collegiate Schools of Business (AACSB).


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