Conclusion

Despite the ongoing global COVID-19 pandemic, 2021 was a remarkable year

Capital raised and invested reached all-time highs, and pre-money and exit values set new records. Yet 2022 started out on wobbly ground as the sands might be shifting.

The sell-off in the public markets has created some investor nervousness, as we’ve heard that late stage investors could be slowing their investment pace, taking more time for due diligence, and repricing deals.

Will the frenetic pace of activity settle down in 2022? Will there be a valuation correction that many have been expecting – or even hoping for – for years? Or will this be a minor blip in what has been a long, secular bull market for technology?

We don’t have the answers, but what we can say with confidence is that markets will cycle, and investor sentiment – especially at the later stages – will ebb and flow.

“We are in the early innings of a software, data, and technology revolution that will make technology the core of every company in every industry. Technology has shifted from its own vertical to a horizontal that now touches every company.”

BoxGroup

Importantly, the opportunity to fund talented entrepreneurs who are solving pivotal problems through innovation and building businesses that will become a new generation of iconic technology companies, is as exciting as ever.