How Did Philadelphia’s VC Activity Fare in Q2? Actually, Pretty Great

After months of speculation that the VC market was changing after a wild 2021, it’s confirmed — deals are still historically high in 2022, but have declined from last year.

PitchBook and the National Venture Capital Association dropped their Q2 2022 PitchBook-NVCA Venture Monitor on Thursday, featuring new data showing that after deals peaked in late 2021 and early 2022, nationally, there was a slowdown in the second quarter of the year. Angel and seed stage funding was down, though less dramatically, as were other early-stage venture capital deals and late-stage VC.

Public offerings have also been affected over the last several months as many companies that had been prepping for IPOs are waiting out a recession.

“IPOs continued to be essentially nonexistent for VC-backed companies in 2022,” the report said, “with only 22 closed during the first half of the year, relative to 183 in 2021, and 108 in 2020.”

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