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In 2014 bulge bracket investment banks stepped up their investing in tech start-ups, reaching a 6 year high. In our view, while this shows strong support for emerging tech firms, it mostly indicates the banks' desire to secure their IPO pipelines and future customer relationships.
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Between 2009 and 2012, bulge bracket banks became increasingly more involved in tech deals. 2012 saw a peak of 46 deals, a 119% increase from 2009, and included investments in Square, Castlight Health, and Spotify. Though there was a dip in 2013, deal activity in 2014 has rebounded and will hit a 6 year high by end of year. In total, bulge bracket banks have been involved in more than 215 deals since 2009
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