October 12, 2022
US VC sends mixed signals as deal activity and fundraising diverge
The third quarter of 2022 saw a less resilient venture landscape in the US compared with the first half of the year. Deal activity across all stages recorded signs of distress, and the market continued to become increasingly consolidated with fewer exits than at any time in recent history.
Dry powder remains at the highest level in our dataset, after years of record fundraising. This capital will help support seed and early-stage investment, but it is not likely to come to the rescue of highly valued, late-stage companies that are seeing an enormous decline in capital availability.
The latest PitchBook-NVCA Venture Monitor, sponsored by Insperity and J.P. Morgan, details how dealmaking, exits, fundraising and valuations responded to rising interest rates and complicated macroeconomic trends during Q3.
This report was created in partnership with NVCA and sponsored by Insperity and J.P. Morgan. Interested in sponsoring future editions of this report? Visit our media partnerships page to learn more.
|NVCA policy highlights||4|
|Angel & seed||8|
|Deals by sector||20|
|Q3 2022 league tables||35|