The beginning of 2024 brought slight optimism to the venture capital market, but it has not yet translated to “meaningful” growth in deal activity, according to a recent PitchBook report.
A persisting slowdown in venture capital deals continued into the first quarter with startups nationwide raising $36.6 billion, marking a 28% decrease from $51.6 billion raised in the prior year quarter, according to the Venture Monitor report, released Thursday by research firm PitchBook and the National Venture Capital Association.
Arizona appears to be bucking the trend of a national venture capital slowdown as startups are continuing to build upon positive fundraising momentum during the first quarter.
Arizona startups inked 30 deals totaling $273.9 million in the first quarter, compared to 35 deals and $636.7 million raised in Q1 2023, according to the report.
