Charts: Global Unicorn Trends Mid-2023

To PitchBook, a unicorn is a venture-backed company with a current post-money valuation of $1 billion or above. PitchBook’s unicorn tracker includes all qualifying companies from 2016 onward.

According to PitchBook, 606 new unicorns were formed in 2021 alone at a valuation of $1.5 trillion.

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As of June 2023, North America has produced 883 unicorns since 2016, the highest of all regions, with a total valuation of $3 trillion. Asia ranks second with 529 unicorns, while Europe follows with 203.

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The information technology industry has had the highest number of unicorns (795) since 2016, with a total valuation of $3 trillion.

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Per PitchBook, the combined valuation of all Europe-based unicorns is €471.2 billion (approximately $507.3 billion) as of June 2023, a slight 0.3% decline from the Dec. 31, 2022, total of €472.7 billion.

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Crunchbase continually updates its Unicorn Board with new entrants and exits. According to Crunchbase, as of July 2023 ByteDance, the China-based owner of TikTok, has the top unicorn valuation globally ($220 billion), followed by Ant Group ($150 billion) and SpaceX ($125 billion).