lookWe’re halfway through 2023, which means we’re only a few weeks away from all-new hot numbers for the second quarter. However, it’s always wise to keep an eye on the future, so we decided to draw some conclusions about web3 and unicorn funding trends from the early data of the past three months.
The exchange explores startups, markets and funding.
Read it every morning on TechCrunch+, or get The Exchange newsletter every Saturday.
I think it’s fair to say that the enthusiasm that drove investors to pour money into web3 startups was a unique feature of the last venture capital boom. There was no shortage of capital and enthusiasm around fintech in those months, with investors pouring tens of billions of dollars into blockchain-focused startups looking to shake up the world of money and value management.
Cryptocurrency stalwarts are staunchly holding their ground, but early data for the second quarter suggests many venture investors are seeking refuge.
Looking at the early data, venture capital values for unicorns and soon-to-be-growth companies have declined. In fact, the indicator is near record lows.