Well…that was anticlimactic.
I must admit, I was pretty hopeful exiting 2023 that 2024 would be the year venture investment would begin to grow again.
In Q1 at least, that hope proved unfounded. US startups on Carta raised $13.6 billion in primary rounds this past quarter, effectively flat from Q4.
Yes, more rounds will come in at a lag and yes, in the end it'll probably be something like $15 billion raised.
But the fundraising muck is still with us. Lots of bridge rounds, many down rounds, just a general lack of momentum.
We'll break it all down for you in detail early next week when the full State of Private Markets report goes live - wish I could have brought you a more joyful preview today.
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Peter Walker
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