PHOENIX — Venture capital activity nationwide and in Arizona slowed in the fourth quarter as investors took a cautious approach to startup funding amid economic headwinds.
According to the Venture Monitor report, released Thursday by research firm Pitchbook and the National Venture Capital Association, Arizona companies inked 31 deals totaling $427.2 million in the fourth quarter, compared to 49 deals and $964.6 million raised in Q4 2021.
In the full year 2022, Arizona companies raised a total of $1.21 billion across 160 deals, sharply lower than the $2.13 billion brought in through 184 deals in 2021, according to the report.
Phoenix metro startups secured 28 deals totaling $407.6 million in the fourth quarter, compared to 39 deals totaling $887.8 million raised in Q4 2021.
Valley startups raised a total of $1.16 billion across 143 deals last year, a decline from $2 billion across 157 deals in 2021.
