Venture capital funding was cut in half in the first six months of 2023, according to Crunchbase.
The dropoff has triggered an uptick in pre-empted deals, where investors back the most exciting startups.
Payrails, Cello, and ElevenLabs are among the startups to close pre-emptive deals this year.
Venture capital funding to startups has continued to collapse in 2023.
The slowdown has led to something of an uptick in pre-empted funding rounds, where investors come forward with deal terms to exciting early-stage businesses before they even begin fundraising.
Persons:
VCs, Tom Mendoza
Organizations:
Venture, Crunchbase, Energy, EQT Ventures
Locations:
London, Berlin