State of the Venture Capital Industry
The tide turned in 2022
We have become accustomed to seeing statistics move up and to the right year after year, but 2022 was a very different year for the US venture capital market. Perhaps we became desensitized to the rapid pace of dealmaking and the steep valuations given to companies, especially later stage assets. In 2022, most of those statistics reversed course and the easy capital retrenched, in part due to tourist capital and crossover funds finding more value in beaten-down public markets.