. The retreat of the global venture capital market is far from over.

Despite speculation that the IPO window may reopen and Startup Land could see improvement, current news of possible interest rate cuts does not seem to have leveled out the global venture capital market. According to early data from PitchBook, VC investments in startups around the world have continued to decline in the fourth quarter of 2023. The Exchange, a source for news on startups, markets, and money, discusses the latest trends and developments.

As we delve into the numbers, it’s clear that while the United States has experienced a sharp decline since the peak of 2021, recent investment trends have settled into a new normal. In the fourth quarter of 2023, U.S. startups raised $37.5 billion, which is slightly less than the $37.6 billion in the second quarter of 2023 and $39.8 billion in the fourth quarter of 2022.

However, the situation is different on a global scale. Here’s a closer look at what’s happening:

• VC investments in startups continue to fall
• The decline is not showing signs of stopping
• This trend affects startups around the world

The message is clear: we are still going down, and there’s no telling when we’ll hit the bottom.

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