TLDR:
- Venture firm Thrive Capital is planning to raise at least $3 billion in a new fundraising round.
- The fundraising comes amid a downturn in tech funding, with 2023 expected to have the lowest level of fundraising since 2015.
Venture firm Thrive Capital, a major investor in OpenAI, is reportedly preparing to raise a minimum of $3 billion in a new fundraising round. The fundraising plans come at a time when tech funding is experiencing a downturn, with 2023 on track to have the lowest level of fundraising since 2015, with a decline of over 50% compared to the previous year. This decline has led to mass layoffs and fewer opportunities for startups to secure funding. Many observers predict that funding conditions will continue to be challenging in 2024, particularly for startups at earlier funding stages. Despite this, there is hope that easier access to funding may be available for top-performing startups.
