Silicon Valley Venture Capital Survey – Fourth Quarter 2023

By: Cynthia Clarfield Hess , Mark A. Leahy , James Li

Background

Our survey analyzed the terms of 171 venture financings closed in the fourth quarter of 2023 by companies headquartered in Silicon Valley.

Summary

Fourth-quarter Bay Area venture capital financings remained largely flat from the preceding four quarters (average of 174). Q4 was also notably consistent with the prior quarter, aside from select data points.

The Fenwick Venture Capital Barometer™, measuring the average percentage share price change between rounds, has remained consistent since Q4 2022 (87% in Q4 2023).

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