With the sentiment of the markets it’s no surprise that a full 82% of VCs expressed caution or concern going into 2016 Which of the following statements best describes your mood heading into 2016 Things are bad & getting worse Hugely bullish 2% 9% Generally optimistic I’m very concerned 9% 30% 50% Generally cautious 22 Source: Upfront Survey Jan 2016, 155 VCs.