M&A multiples in the US – should you go west?

Sunstone has previously investigated the return multiples of venture capital funded companies HQ’ed in Europe (https://bit.ly/3n0bd3B) and concluded that when the total invested amount exceeds EUR 50M, the return multiple tends to stay below 5 in M&A transactions....
Best country for sourcing new deals?

Best country for sourcing new deals?

Do you also in your mind have a priority list of destinations to visit once the world normalises and you can get back on a plane? If so, and if you are a Venture Capitalist, you may also be wondering which countries have been creating most Life Science M&A...
Increasing the investor return multiple with an IPO?

Increasing the investor return multiple with an IPO?

For private company M&A the multiple stayed below 5x after a company had raised more than EUR 45M (https://bit.ly/36dPAVy). We have now added 12 European M&As completed after an IPO. The figure below shows the “Grand return multiple”, i.e. our calculation of...
To IPO… or not to IPO

To IPO… or not to IPO

We have recently added 12 venture funded companies to our M&A analysis of European therapeutic companies acquired post-IPO. As expected, those companies were acquired at a later developed stage. As previously highlighted most European venture capital funded...
Modest interest in Human Safety!?

Modest interest in Human Safety!?

We have previously highlighted that most European venture capital funded therapeutic companies are acquired after receiving less than EUR 45M in venture capital funding. It also appears that companies are acquired either before EUR 10M have been invested or after an...