PHOENIX — Venture capital activity continued to be “remarkably slower” in 2024 compared to the pandemic-era funding frenzy, but the industry is showing “promising signs of recovery” and renewed optimism entering 2025, according to a new PitchBook report.
National venture capital transactions totaled $209 billion across 15,260 deals in 2024, compared to $162.2 billion across 14,712 deals in 2023, according to the latest Venture Monitor report from Pitchbook and the National Venture Capital Association. Both years are down from a post-pandemic peak of $354.6 billion across 19,373 deals in 2021.
In the fourth quarter of 2024, national transactions totaled $74.6 billion across 2,859 deals, compared to $37.9 billion across 3,499 deals in 2023, according to PitchBook data.
Arizona-based startups continued to close deals last year, raising a total of $1.2 billion across 129 transactions, down slightly from $1.3 billion and 134 deals in 2023.
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