The global venture capital market saw a combined 37,809 transactions worth a combined $345.7 billion in 2023, a 27% decline in number and 35% drop in the value of deals from the prior year, PitchBook data shows.
The amount invested in deals hasn't been as low since 2019, when the total global venture capital transaction value was $333.4 billion, according to the Jan. 4 PitchBook global venture capital report.
Total capital raised in 2023 fell to its lowest point since 2015, with 1,425 funds raising a total of $160.9 billion. Global venture capital firms raised $119.3 billion in 2,143 funds in 2015. Venture capital exits in 2023 continued their slump, with 2,613 deals worth a combined $224.7 billion, down from 3,612 exits totaling $320.6 billion in 2022.
There were 13,608 U.S. deals in 2023 with a total transaction value of $170.6 billion, down from 17,592 transactions totaling $242.2 billion the year before. U.S. venture capital fundraising fell to $66.9 billion raised by 474 funds in 2023 from $172.8 billion raised by 1,340 funds the prior year.