VCs and their portfolio companies took a bruising in 2023. From Silicon Valley Bank collapsing—and with it a vital lifeline for startups—to a frozen IPO environment closing off exit activity, this past year was one of the most challenging to date.

In response, investors pulled back, leading to chilling effects on the startup market, the latest PitchBook-NVCA Venture Monitor shows. As more investors opted to sit out 2023, companies contended with less favorable deals.

These four charts highlight the effects of the investor exodus. READ MORE