Insight Partners and TCV are reportedly scaling back the size of huge venture funds they planned.
The amount of money VC firms raised themselves hit $170.8 billion in 2022, according to PitchBook data, up from $158.5 billion in 2021.
And it's also evident in two gigantic firms that had lofty fundraising goals but are now scaling back: Insight Partners and TCV.
The firm has raised about 50% to 75% less for a $5.5 billion fund it planned for last year, The Information reported.
Last month, Mayfield Fund announced that it raised $955 million across two new venture funds.
Persons:
VCs, —, it's, they're, whittle, It's, Insider's Melia Russell, Brian, Lisa Sugar, Turner Novak, Monique Woodward, Navin Chaddha, who's, Chaddha
Organizations:
Insight Partners, Morning, Insight, Bloomberg, Financial Times, Tiger, Tiger Global, Street, Sugar, Banana, Cake Ventures, Mayfield Fund
Locations:
Mayfield, Silicon Valley