We advised on 172 funding rounds during 2023.
On average, we closed over 14 funding rounds per month. March was our biggest month by deal volume as we closed 25 funding rounds.
An examination of our deal volume in 2022 revealed a similar increase in March. However, in 2023, we observed heightened activity in both February and April, surpassing the levels recorded during the corresponding months of the previous year. These figures suggest a robust first quarter in 2023 compared to the same quarter in 2022, with deal volume rising by 8% relative to the previous year.
The level of activity in Q1 and Q2 of 2023 didn’t continue in the second half of the year, with activity levels decreasing by almost 28% on the previous six months. This further amplifies the view that investors have been approaching opportunities with more diligence and selectivity in order to mitigate the risks posed by rising interest rates and unpredictable public markets.