From $86 billion in the fourth quarter of 2022 to $57.3 billion in the first quarter of 2023.

Global venture capital (VC) investment fell from $86 billion in 9,619 deals in Q4 2022 to $57.3 billion in 6,030 deals in Q1 2023 as heightened market uncertainty showed no signs of easing. This was highlighted by KPMG Private Enterprise’s quarterly report on global venture capital trends. The protracted war in Ukraine, rising interest rates, persistently high inflation and worries about the stability of the global banking system combined to create a difficult quarter for venture capital investments regardless of region. The decline in venture capital investment was particularly sharp compared to last year, with total volume in the first quarter of 2023 less than a third of the total volume in the first quarter of 2022 (177.6 billion). In all regions, venture investment in the first quarter of 2023 fell to levels seen in recent years. The $33.1 billion raised in the Americas was the lowest level since the first quarter of 2018, while the $9.8 billion raised in Europe was the lowest total since the third quarter of 2018, and $13.5 billion in Asia is the lowest since the second quarter of 2015. U.S. payments company Stripe was by far the largest quarterly venture capital round in the world, though it was accompanied by a sharp decline in its valuation company, from $95 billion after the last funding round in the first quarter of 2021 to $50 billion in the first quarter of 2023. The largest transaction of the quarter was Abound, an AI-powered open banking platform based in Europe and the UK (601 million).