Venture capital exits plummet last year

Venture capital exits totaled $5.2 billion in the fourth quarter, the lowest since the first quarter of 2013's $5.9 billion. Venture capital-backed companies completed only 14 IPOs during the quarter, and acquisitions were $763 million, which PitchBook Data notes is the lowest figure in more than 10 years.

Exits were $71.4 billion for the year, down from $753.2 billion in 2021. There were 1,391 exits vs. 1,925 in 2021.

The median late-stage venture capital valuation was $67.3 million last year. That's down 10.3% from 2021's $75 million, the highest figure going back to at least 2006.