In this video clip from Credit Suisse we hear Jim Breyer, Founder and CEO of Breyer Capital, explain the steep increase of unicorns (private companies valued at US$1 billion or more). More importantly, if companies are raising this kind of capital themselves, why do they even need to go public?
At the beginning of 2014, there were 43 known unicorns worldwide. As of November 2015 that number has nearly tripled to 132. The reason we see so many unicorns in the United States and China is the 5x increase in money that has come into late stage venture capital from around the world over the past two years.