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

Even though news of potential interest rate cuts has led to optimism that the IPO window might reopen and things might improve in Startup Land, it appears the global venture capital market has yet to level-out: Early data from PitchBook indicates global VC investment in startups continued to slide in the fourth quarter of 2023. The Exchange explores startups, markets and money. Read it every morning on TechCrunch+ or get The Exchange newsletter every Saturday. While things are down sharply in the United States compared to the heady days of 2021, investment trends seem to have largely reached a new normal — U.S. startups raised $37.5 billion in Q4 2023, which wasn’t much less than the $37.6 billion they raised in Q2 2023 and $39.8 billion in Q4 2022. In contrast, here’s what’s happening globally:We are still going down, folks!

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.

Stay informed by reading The Exchange every morning on TechCrunch+ or sign up for the weekly newsletter delivered every Saturday. Remember, the global venture capital market is constantly evolving, and it’s important to stay up to date on the latest news and trends.

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Zara Khan

Zara Khan is a seasoned investigative journalist with a focus on social justice issues. She has won numerous awards for her groundbreaking reporting and has a reputation for fearlessly exposing wrongdoing.

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