PitchBook-NVCA Venture Monitor

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Where does VC go from here? 

For LPs, distributions are what matter, and our data shows how low those realized returns have dropped during the market slowdown. One of the data points that really sticks out this Q1 report is that just $9.3 billion of new fund commitments were closed, or rather, 5.0% of the 2022 annual high. With little capital to recycle into the market, LPs have come under further pressure in navigating their exposure to venture.  

Though the IPOs of Reddit and Astera Labs grabbed the spotlight during the quarter, total exit value reached just $18.4 billion, dampening the outlook of an increase to distribution rates just yet. The PitchBook-NVCA Venture Monitor, sponsored by J.P. Morgan, Dentons, and Deloitte, presents this data and more, diving into the themes and trends of the current US venture market.