The lack of liquidity is making it even more difficult for VCs to raise new funds, analysts said. PitchBook's Nalin Patel said LP money could become trapped in companies that were "overdue an exit." Venture capital-backed exits have continued to collapse in 2023, piling pressure on general partners already facing a torrid time trying to raise funds from institutional investors. This represented a 40% decline on the $161.4 billion worth of exits posted during the same period last year. In a performing exit market growth stage companies like fintech giant Stripe, buy now, pay later firm Klarna, and software firm Databricks may all have already gone public.

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Persons: PitchBook's Nalin Patel, Wise, Klarna, Kyle Stanford, Nalin Patel, Stanford Organizations: Venture, PitchBook's EMEA, Global, Companies Locations: Deliveroo, PitchBook's