U.S. Q1 2024 venture capital investments fall 29% to $36.6B | NVCA

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In the first quarter, deal value for U.S. VC investments hit $36.6 billion across 2,882 deals, down from $51.6 billion across 4,026 deals a year earlier, according to a new report.

The first quarter of 2024 was a relatively calm (or weak if you prefer) quarter for U.S. venture capital investments. Few outsized deals were closed during the quarter, but overall deal count stayed relatively high on a comparative basis, according to a first look at a report by Pitchbook and the National Venture Capital Association.

Quarterly deal value was the lowest quarterly aggregate since 2017, but the lack of outlier deals should be noted, and capital availability remains low, the report said.

On a positive note, data shows that valuations have a slight uptick at the median across several stages. This is likely due to relatively strong performance from public markets and slight multiple expansion, as well as a bias toward fundamentally strong companies’ continued ability to raise capital in the slow venture market, Pitchbook said.

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Investors remain cautious in this environment becaus...

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