31 December 2023Global tech in 13 chartsVenture Wrapped 2023 Page / 2 2023: the great reset in venture capital.Startups raised $319B in investment in 2023, a return to pre-pandemic investment levels.2023 was the year venture capital investment reset. Following 18 months of mania in 2021/22. 2023 saw the lowest total for global venture capital invested since 2017. Source: Dealroom.coSee every round »Page / 3 The startup pipeline keeps being fed.Excluding megarounds of over $100m, however, investment into startups at early and mid-stage closed above 2020 levels in 2023.The funding crunch is most acute at late-stage. The early-stage funnel continues to be filled. ~35k Pre/Seed rounds were completed in 2023. And over 6k Series As.Source: Dealroom.coCustomize data »Page / 4 Crossover funds hit the breaks.The flight of Crossover funds from the venture playing field is the biggest driver of the late-stage funding crunch.Between them Tiger Global, Temasek Coatue and Softbank participated in $148B worth of VC deals in 2021. In 2023 all crossover funds were part of just $34B of VC rounds.Corporate capital has been much more steadfast.Source: Dealroom.coCrossover rounds »Down 85% from 2021 All of late stage is down 69% from 2021Page / 5 Source:Led a $10B VC round into OpenAI in Jan 2023Participated in deals into Anthropic, Hugging Face and Sandbox AQParticipated in deals into Anthropic, Hugging Face and FreshtoHome.Participated in deals into Lenskart, Forward and OutriderParticipated in deals into Builder, Ascend Elements and Ensoma Participated in deals into Devoted Health, Euler Motors and DatabricksAnd yet, investment from non-venture capital sources is at an all time high.Dealroom.coCorporatesSovereign Wealth FundsMajor Corporate Giant and Sovereign Wealth Fund investors in 2023VC investment by investor typesPage / 6 Source: Dealroom.coThe unicorns class of 2023.Swimming against the tide, 87 startups achieved a $1B exit or private unicorn valuation for the first time in 2023.Itʼs the lowest new unicorn total since 2014, and down 89% from 2021ʼs high water mark of 782.But these are the ones that beat the odds.View unicorns »Page / 7 Source: Dealroom.co | Data as of Dec 2023Hopinheimer: the 2023 startup fallout.2023 also saw a number of high profile startups enter varying grades of distress. After raising huge sums in 2021, with late-stage capital dried up and public markets closed, brand name companies approached the end of their runway or saw their market disappear in 2023.Crypto exchange platformBahamasFrom $32 valuation to ceasing operations in November 2022WorkspacesUnited StatesOnce valued at $47B, filed for Chapter 11 bankruptcy in 2023Event TechUnited StatesFrom $12.5B to $250M in 18 months MobilityUnited StatesOnce valued at $2.3B. Filed for bankruptcy Dec 2023Online Luxury Fashion RetailerBahamas$5.8B IPO 2018 to $500M acquisition by Coup...
