To say the world has been shaken in the past four months is an understatement. The Great Lockdown caused a global output shortfall of $12.5 trillion. Governments have reached deep into their coffers to inject relief into shocked economies. We've seen companies bolster balance sheets via debt issuance and trim expenses, including layoffs.

Like many early recoveries, this is a time of contradictions. Growth rounds continue as the late-stage has restored momentum; early-stage companies and small GPs have faltered. Certain sectors are hotter now than ever before; countless others have faced headwinds. The tech IPO window has cautiously reopened, whereas the healthcare window never closed.

As we know, and has become increasingly apparent in recent months, innovation touches every aspect of our lives, revealing an even greater need for inclusivity and diversity in the innovation economy. In this report's Social Impact section, the data describes the lack of diversity among tech companies and venture capital investors and trends around investing for social impact. The gaps are glaring, and we all need to take a more active role to close them.