The value and volume of global venture capital funding rounds continued to fall in December 2023.
Transaction value fell 25.7% year over year to $19.35 billion, while deal count was down 48.2% to 965. Both figures were the lowest totals for any December since at least 2020, according to S&P Global Market Intelligence data.
The total value of funding rounds in 2023 came in at $260 billion, a 40.3% decrease from the full-year total of $435.72 billion in 2022, data shows. Deal volume amounted to 15,834 in 2023, down 31.9% from 23,251 in 2022.
– Download a spreadsheet with data featured in the story.
– Read about global private equity deals in December 2023.
– Explore more private equity coverage.
Investments by sector
Global technology, media and telecommunications companies raised the highest amount of venture capital in the final month of 2023, capturing 43.2% of the total investments. Healthcare companies followed next, raising 17.2% of the total. Financials raised 9.9% of the total, and industrials raised 9.3%.
Largest funding rounds
Companies in Europe secured four of the 10 largest funding rounds in the final month of 2023.
Application software company Visma AS raised roughly $3.3 billion in venture financing, with HgCapital LLP gaining a majority stake in the transaction. Existing investors including Intermediate Capital Group PLC and TPG Capital LP also participated in the round.
Healthcare distributor China Resources Pharmaceutical Commercial Group Co. Ltd. raised $882.8 million in a funding round with participation from existing investor Beijing Pharmaceutical Group Co. Ltd. and new investors ABC Financial Asset Investment Co. Ltd., BOC Financial Asset Investment Co. Ltd., CCB Financial Asset Investment Co. Ltd., ICBC Financial Asset Investment Co. Ltd. and PICC Capital Equity Investment Co. Ltd.
