Dealmaking involving venture-backed startups hit an eight-year low last year, as strategic and private equity buyers decided to keep their cash, likely waiting to see how far startup valuations would drop.

It is not shocking that dealmaking hit a low ebb last year, but the dearth of VC-backed startups sold last year may offer a surprise. In 2023, only 1,738 venture-backed startups were acquired globally — the lowest amount since 2015, when 1,687 startups were bought — per Crunchbase data. READ MORE