In the fourth quarter of 2022, VC investment dropped to $22.6b. SingaporeBusinessReview
During the last few months of 2022, venture capital funding fell to levels not seen since 2017. Whilst macroeconomic headwinds played a role in this drop, experts point to the “stand-off” between the investors and the investees as the main reason for the decline.
“We, VCs, see the implication very quickly from the public markets, number one, but also, from our limited partners and our extended investor network, who are managing monies. We see the implication coming very fast, and we are planning for the after-effects of it,” Lee said. “Now, that uncertainty just spills into the private capital markets. I think the VC market was particularly vulnerable because you've come off this period of really quite exuberant growth,” he added.
Thompson explained that as prices readjust to the geopolitical and economic and inflationary risk environment, traditional metrics such as revenue and profitability become “much more relevant” to VC firms. With the global fund-raising environment being significantly tighter, Balzer said new funds or less differentiated funds with an average track record will also find it harder to raise.
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