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Laxman Pai, Opalesque Asia: Global venture capital (VC) investment fell from $81.4 billion across 9,563 deals in Q2'23 to $77.05 billion across 7,434 deals in Q3'23, a seventh straight quarter of decline, as VC investors continued to act cautiously, said a study.
KPMG Private Enterprise's Venture Pulse report, both total global investment and deal volume reflected multi-year lows; VC investment in Q3'23 was the lowest since Q3'16 while VC deal volume was the lowest since Q2'19.
On a regional basis, Europe managed to buck the downward investment trend, attracting $17.3 billion in Q3'23 compared to $16.4 billion in Q2'23. This occurred despite a decline in deal volume from 2,454 to 1,671 during the same period.
Two $1 billion+ megadeals accounted for more than the difference in investment quarter-over-quarter: a $2.3 billion raise by France-based battery company Verkor and a $1.6 billion raise by Sweden's green steel manufacturing company H2 Green Steel. The two megadeals highlight the incredible strength of the cleantech market in terms of attracting large VC investments.
Meanwhile, VC investment in other regions of the world was quite weak compared to recent historical norms. In the Americas, VC investment dropped to $38.6 billion-its lowest level since Q4'19; the US continued to account for the majority of this investment ($36.7 billion).). VC in the Asia-Pacific region, meanwhile, dropped to $20.3 billion-its lowest level since Q1'17.
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