【dealroom.co】2023年风险投资报告

VentureWrapped2023

Globaltechin13charts

31December2023

2023:thegreatresetinventurecapital.

Startupsraised$319Bininvestmentin2023,areturntopre-pandemicinvestmentlevels.

2023wastheyearventurecapitalinvestmentreset.Following18monthsofmaniain2021/22.

2023sawthelowesttotalforglobalventurecapitalinvestedsince2017.

Seeeveryround»

Page/2Source:Dealroom.co

dealroom.co

Thestartuppipelinekeepsbeingfed.

Excludingmegaroundsofover

$100m,however,investmentintostartupsatearlyandmid-stageclosedabove2020levelsin2023.

Thefundingcrunchismostacuteatlate-stage.Theearly-stagefunnelcontinuestobefilled.

~35kPre/Seedroundswere

completedin2023.Andover6kSeriesAs.

Customizedata»

Page/3Source:Dealroom.co

dealroom.co

Crossoverfundshit

Down85%from2021

Alloflatestageis

down69%from2021

thebreaks.

TheflightofCrossoverfundsfromtheventureplayingfieldisthe

biggestdriverofthelate-stagefundingcrunch.

BetweenthemTigerGlobal,

TemasekCoatueandSoftbank

participatedin$148BworthofVCdealsin2021.In2023allcrossoverfundswerepartofjust$34BofVCrounds.

Corporatecapitalhasbeenmuchmoresteadfast.

Crossoverrounds»

dealroom.co

Source:Dealroom.co

Page/4

Andyet,investmentfromnon-venturecapitalsourcesisatanalltimehigh.

MajorCorporateGiantandSovereignWealthFundinvestorsin2023Corporates

Google

Leda$10BVCroundinto

OpenAI

inJan2023

Participatedindealsinto

Anthropic

,

Hugging

Face

and

SandboxAQ

Participatedindealsinto

Anthropic

,

Hugging

Face

and

FreshtoHome

.

SovereignWealthFunds

Participatedindealsinto

Lenskart

,

Forward

and

Outrider

Participatedindealsinto

Builder

,

Ascend

Elements

and

Ensoma

Participatedindealsinto

DevotedHealth

,

Euler

Motors

and

Databricks

VCinvestmentbyinvestortypes

Page/5Source:Dealroom.co

dealroom.co

Theunicornsclassof2023.

Swimmingagainstthetide,87startupsachieveda$1Bexitorprivateunicornvaluationforthefirsttimein2023.

Itʼsthelowestnewunicorntotalsince2014,anddown89%from2021ʼshighwatermarkof782.

Butthesearetheonesthatbeattheodds.

Viewunicorns»

Page/6Source:Dealroom.co

dealroom.co

Hopinheimer:

the2023startupfallout.

2023alsosawanumberofhighprofilestartupsentervaryinggradesofdistress.

Afterraisinghugesumsin2021,with

late-stagecapitaldriedupandpublic

marketsclosed,brandnamecompaniesapproachedtheendoftheirrunwayorsawtheirmarketdisappearin2023.

Cryptoexchange

platform

Bahamas

Workspaces

UnitedStates

wework

Oncevaluedat$47B,filed

forChapter11bankruptcy

in2023

EventTech

UnitedStates

From$32valuationto

ceasingoperationsin

November2022

From$12.5Bto$250Min

18months

OnlineLuxuryFashionRetailer

Bahamas

BatteryTechAgritech

UnitedKingdomGermany

FARFETCH

inforrn

$5.8BIPO2018to$500Macquisitionby

Coupang

Unicornvaluation,to£8.6M

acquisitionby

Recharge

Industries

Unicornat2021SeriesD.

Declaredbankruptcyfor

Europeanoperations

Exploreexitsdata»

Mealkits

UnitedStates

From$3BIPOto$100M

acquisitionby

Wonder

Distribution

Insurtech

UnitedStates

Better

Oncevalued$7.7B,

nowbackto$100M

afterSPACdeal

E-bikes

Netherlands

VANMOOF

Distressedsale

to

LAVOLIE

(owned

byMcLaren)

Mobility

UnitedStates

Oncevaluedat$2.3B.FiledforbankruptcyDec2023

Microprocessors

UnitedKingdom

GRAFHCORE

From$2.8BvaluationtoSequoiawrite-offin2023.

Telemedicine

UnitedKingdom

From$4.2billionvaluation

to$620K

assetsale

Page/7Source:Dealroom.co|DataasofDec2023

dealroom.co

ThedawnoftheageofAI.

$90b

2023wasanepochalmomentforadvancesanddeploymentsin

ArtificialIntelligence.

Inatimewhennotmuchintechwasgrowing,investmentintoandvalueofGenAImodelmakersincreasedbymorethan5xyearonyearin2023.

Beyondthetechbubble,AIhitthemainstream.FromSenatehearingstoBletchleySummits,AIeven

enteredthedictionary.Collins

named“AI”thewordofyearfor2023,whileCambridgeDictionarychose“hallucinate”.

Page/8Source:Dealroom.co

dealroom.co

Global

Atoms>bits.

Physicaltechisin.

Investmentintomanufacturing

startupslaggedEcommerce

investmentfiveyearsago.Nowitʼsmorethan3xEcommerce.

Entrepreneurialinnovationeffortisincreasinglybeingdirectedat

tacklingtheworldbiggestproblems,whichrequirehardwaresolutions:novelenergy,computing,biotech,spacetech.

Techiscomingofage.

Page/9Source:Dealroom.co

dealroom.co

VCinvestmentfellgloballyin2023,butsomeMENAandSub-Saharanstartupecosystemsbuckedthetrend.

VCinvestmentyearonyearchange(2022-2023)

▊RapidGrowth(100%+)▊Growth(0-100%)▊Decline(0-40%)▊LargeDecline(-40%-80%)▊RapidDecline(-80%)▊LowVCdata

Europefellby37%

NorthAmericanVC

investmentfellby40%

MENAfellbya

modest26%

Asianinvestment

fellby36%

LATAMVCinvestment

fellby60%

Page/10Source:Dealroom.co

dealroom.co

Global

China:thesleepingdragonawakens.

TheshareofglobalventurecapitalbeingraisedbyChinesestartupsiswellandtrulyontheriseagain,with

ahugeproportiongoingto

manufacturingstartups-EVs,

batteries,chips,solarandrobotics.

EuropeʼsshareofglobalVCisatanalltimehigh.

Ingeneralventurecapitalis

increasinglydistributed.TheUSʼs

shareofVCisnowunder50%,downfromtwothirdsadecadeago.

Page/11Source:Dealroom.co

dealroom.co

China

Physicaltechinvestmenthasdoubledin

Chinainthepastthreeyears.

ChineseVCrounds»

Page/12Source:Dealroom.co

dealroom.co

Global

In2023,

GenerativeAI,Electric

MobilityandEVbatterytech

weretheleading

segments.

Customizedata»

Page/13Source:Dealroom.co|DataasofQ32023

dealroom.co

Global

Selected

fundingroundsfrom2023fromleading

segments.

GenAI

UnitedStates

像openAl

LateVC

$10B

GenAI

UnitedStates

Inflection

GrowthEquityVC

£1.3B

PaymentProcessing

UnitedStates

stripe

GrowthEquityVC

$6.5B

GenAI

UnitedStates

ANTHROP\C

SeriesD

$1.3B

Industrialtech

Sweden

H2greensteel

GrowthEquityVC

$1.5B

Batterytech

Sweden

northvol化

Convertible

$1.2B

Customizedata»

Autonomoustrucking

UnitedStates

SeriesA

$1B

Electricvehicles

China

LateVC

$962M

Batterytech

UnitedKingdom

GrowthEquityVC

£870M

Page/14Source:Dealroom.co

dealroom.co

Global

Carbon

tracking,GenAIandHydrogenareamongstthefastest-growingsegments.

Customizedata»

Page/15Source:Dealroom.co

Fastestgrowingsegmentsintech(2023vs.2019)

dealroom.co

Alleyeswere

onthefew

testsoftheIPOwindowin

2023,ArmandNextTracker

gaining