View the full report here https://t.me/SimplicityGroup/168 or see a breakdown below
In September, 280 VCs deployed capital with a total of 332 checks being written.
Overall, 72 projects managed to raise funds in September 2023, compared to 91 in August 2023 and 138 in September 2022, marking a 20% and 48% decline respectively.
The total amount raised in September 2023 was $535,437,700.
This compares to $819,000,000 in August 2023 and $1,594,000,000 in September 2022; declines of 34% and 66% respectively.
The standout sector was "Blockchain Service", which received the most investment both in value ($137,003,877) and in volume (25 projects).
On the other hand, NFT projects faced the toughest time, with only 3 projects raising $30,000,000.
The most active investor in September was @BaseEcosystemX with a total of 7 investments, closely followed by @a16zcrypto, which wrote 5 checks, and @balajis and @HashKey_Capital each writing 4 checks. 246 VCs made just one investment in September.
Despite the significant drop in investment, it's crucial to understand that this is a healthy correction. In times of constant hype, true innovation halts. It's the bear markets that bring forth the true innovators who change the world.
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