Venture capital fundings took a nosedive in Q1 2023 for the 7th straight quarter.
Venture capital fundings took a nosedive in Q1 2023 for the 7th straight quarter.
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VC funding takes a nosedive in Q1 for 7th straight quarter | NVCA

  • Posted byby Dean Takahashi
  • Updated
  • 7 min

The first quarter of 2023 was bleak for the venture capital and startup sectors, as late-stage deal value declined for the seventh straight quarter to just $11.6 billion and exits collapsed altogether, according to the latest report by the National Venture Capital Association and Pitchbook.

Silicon Valley Bank’s collapse was a major, unexpected event that dominated the narrative in March, and the impact of the bank’s failure sent shockwaves as it was at the center of the innovation ecosystem, as it usually supplied bridge loans for startups raising money.

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Written by

Dean Takahashi

Dean Takahashi is editorial director for GamesBeat. He has been a tech journalist since 1988, and he has covered games as a beat since 1996. He was lead writer for GamesBeat at VentureBeat from 2008 to April 2025. Prior to that, he wrote for the San Jose Mercury News, the Red Herring, the Wall Street Journal, the Los Angeles Times, and the Dallas Times-Herald. He is the author of two books, "Opening the Xbox" and "The Xbox 360 Uncloaked." He organizes the annual GamesBeat Next, GamesBeat Summit and GamesBeat Insider Series: Hollywood and Games conferences and is a frequent speaker at gaming and tech events. He lives in the San Francisco Bay Area.