Global venture capital investment value, volume down in Q1 2024

The value and volume of global venture capital deals declined during the first quarter of 2024, according to S&P Global Market Intelligence data.

The aggregate transaction value amounted to $71.57 billion from January to March 2024, representing a 2.37% decrease compared to the $73.31 billion total during the same period in 2023.

Additionally, the number of transactions fell to 3,647 from 4,438.

On a monthly basis, venture capital transaction value came to $19.80 billion in March 2024, a 40.2% drop from $33.09 billion in March 2023.

The number of funding rounds declined 22.7% to 1,146 from 1,483 over that timeframe.

– Download a spreadsheet with data featured in this story. – Read about venture capital activity in February. – Read about global pension fund allocation to private equity.

Investments by sector

The technology, media and telecommunications sector continued to dominate global venture capital investments in March, capturing the largest share of the value of funding rounds at 28.4%. The consumer sector followed, accounting for 25.1% of the total investment value.

Application software companies led investments in the technology, media and telecommunications sector with 436 private equity-backed funding rounds in March. Deal count was down from the 723 rounds recorded a year earlier. Systems software companies followed with 223 funding rounds.

Largest transactions

In the biggest funding round for the month, fitness clubs operator Equinox Holdings Inc. raised $1.80 billion in a round of funding co-led by new investor Sixth Street Partners LLC and existing investor Silver Lake Technology Management LLC, according to Market Intelligence data.

In the next-largest deal, automobile manufacturer Zhiji Motor Technology Co. Ltd. raised $1.11 billion in its series B funding round.