Few founders and venture capitalists will be surprised to see that venture funding rounds have decreased in recent months, given the interest rates, exit climate and uncertainty experienced this year.
Austin-area startups raised $701 million in this year's third quarter across 70 deals, according to a new Pitchbook report. That's down from $850 million raised across 96 deals in Q2. It's also a continuation of the decline we've seen after our record-breaking first quarter, which saw $2.5 billion deployed on 137 deals.
And a year ago, 103 companies raised nearly $1.1 billion in the third quarter of 2021.
The $701 million raised last quarter was also the lowest amount since the third quarter of 2020.
Here's a look at the top deals of Q3, according to the report.
• MicroTransponder: $73 million
• Form Bio: $30 million
• CrowdStreet: $28 million
• Zippy: $16 million
• Theori: $15 million
On the national level, public listings are at record lows, exits are down almost 50% from historical norms and the total amount of venture capital invested in late-stage startup deals hit its lowest point in 11 quarters at $24.9 billion, down 48% from the second quarter.
Overall, VC investment totaled just $43 billion last quarter, the lowest point in more than two years, and the estimated deal count of 4,074 was down around 20% from the first quarter of 2022, according to Pitchbook.
