In the first six months of 2019, companies raised US$55 billion, above the US$48-billion midway point in 2018. If current investment levels continue, venture capital is on track to exceed the US$120-billion record set in 2000, according to a report from CB Insights and PwC. Asian deal activity nearly surpassed the U.S. in Q3 2018, but has declined 24 per cent between then and Q2 2019. (The Logic)

Talking point: Much of the U.S. increase comes from a rejuvenated San Francisco investment scene, up 17 per cent to 438 deals in Q2 2019 following three consecutive quarters of decline. Mega-rounds, those over US$100 million, also drove the increase, accounting for more than half the money raised in the quarter. The U.S. rise comes as companies are staying private longer, fuelled partially by significant rounds from SoftBank and other large firms, including Sequoia Capital and Tiger Global Management. SoftBank alone participated in four of the five largest deals globally last quarter. The Asian drop follows a report earlier in July that found the value of Chinese VC deals dropped 77 per cent in Q2 2019, as U.S.-China trade-war tensions remain high and the U.S. considers blacklisting more Chinese firms.