VC funding takes a nosedive in Q1 for 7th straight quarter | NVCA

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.