NVCA & Pitchbook – Venture Monitor, Q4 2023

The NVCA & Pitchbook Venture Monitor report for Q4 2023 highlights the challenges faced by the VC industry in the past year. Despite a significant decrease in capital invested, with $71.6 billion less in the asset class compared to 2022 (excluding large rounds from OpenAI and Anthropic), there are signs of improvement on the horizon. In Q4 2023, the number of VC deals surpassed those in any quarter prior to 2020. Additionally, the public markets performed well throughout the year. The report was sponsored by J.P. Morgan, Dentons, and Deloitte. While there is a backlog of IPOs waiting to be launched, there is also an abundance of available capital. Many experts predict that as economic uncertainty subsides, the market will return to a more stable state. Overall, although VC has faced significant challenges over the past 12 months, the outlook is positive. The industry is experiencing a high volume of VC deals, and with the market expected to stabilize and the availability of capital, brighter days lie ahead for the venture capital sector.