If these valuations are based on funding rounds, then aren't they the direct consequence of VC funding and VC math? If this is the case, then More VCs should eq

If these valuations are based on funding rounds, then aren't they the direct consequence of VC funding and VC math? If this is the case, then More VCs should equal More Unicorns, because they are the one's creating them. If EU vs US VC funding is about 1:8, then the ratio correlates with the output of unicorns. If is even less, then that would imply EU actually may be outperforming the US in unicorn output per VC head. As it turns out, the EU numbers are booming this year, so it's tough to compare, but the numbers do seem to back this somewhat [0] [1]. -- [0] http://blogs.wsj.com/briefly/2015/04/27/european-vc-investment-in-q1-2015-the-numbers/ http://blogs.wsj.com/briefly/2015/04/27/european-vc-investme... [1] https://www.cbinsights.com/research-venture-capital-q1-2015 https://www.cbinsights.com/research-venture-capital-q1-2015