The big global venture capital pullback we were all expecting is truly here.

Venture and growth investors in private companies scaled back their investment pace significantly as the slump in the public markets stretched into the third quarter.

Venture funding for the third quarter of 2022 totaled $81 billion, down by $90 billion (53%) year over year and by $40 billion (33%) quarter over quarter, according to a Crunchbase News analysis. While funding for the most recent quarter will increase a little in the coming months as stealth fundings are announced, this is a huge drop in funding compared to prior quarters.

This past quarter is the lowest quarterly funding amount since the first quarter of 2020, with $70.6 billion in venture funding.

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