U.S. venture capital exit values appear to have staged a bit of a comeback in the third quarter, while fundraising and total transaction values faltered, PitchBook-National Venture Capital Association's U.S. Venture Monitor showed.
There was a total of $35.8 billion worth of exits in the third quarter, up from a combined $6.6 billion in the second quarter and an increase from $16.4 billion in the third quarter of 2022. However, there were fewer exit transactions in the third quarter (216) than in the second quarter (256) and the year-earlier quarter (298).
In the first three quarters of this year, 344 venture capital funds raised a combined $42.7 billion compared with 593 funds that raised a combined $150.9 billion in the same period last year and 1,278 funds that raised a total of $172.5 billion in all of 2022.
Venture capital transactions were also down, by value and number, from prior periods with 2,715 deals worth a total of $32.7 billion in the third quarter, dropping from 3,560 transactions worth $37 billion in the second quarter and from 3,933 deals valued at a total of $46.4 billion in the third quarter of 2022.