Venture deals plummeting

Global venture capital funding reached USD 182 billion in Q4 2021 but has since decreased 66% to USD 61 billion in the last quarter. The number of deals also continues to fall, reaching 6,385. There are some signs of activity picking up though. For instance, the number of IPOs increased from 87 in Q1 2023 to 102 in Q2. Also, new unicorn births, companies valued at over USD 1 billion, increased 20% after hitting a 6-year low in the first quarter. The top two new unicorns by valuation were China-based tea brand ChaBaiDao (USD 2.5 billion) and US-based cloud compute provider CoreWeave (USD 2.2 billion).

Source: CB Insights, 2023.