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27#Q1VC ©2016 KPMG International Cooperative Venture Pulse Q1’16

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27#Q1VC
©2016 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG
network of independent firms are affiliated with KPMG International. KPMG International provides no client
services. No member firm has any authority to obligate or bind KPMG International or any other member
firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any
member firm. All rights reserved.
“Given the tougher environment for
raising funds, we anticipate many of the
Unicorns will tighten their belts by
pulling back on spending, driving
operational improvements and being
more cautious with the money they
already have - because it will be more
expensive for them to raise capital in the
near future.”
Arik Speier
Co-Leader, KPMG Enterprise
Innovative Startups Network and
Head of Technology,
KPMG in Israel

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