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Today: May 16, 2024
January 12, 2024
1 min read

Slow VC Activity in Massachusetts in 2023 – Get Ready for 2024

TLDR: The end of 2023 saw a slow year for venture capital funding in Massachusetts, with total deals, exits, and capital invested in the state’s startups below previous years. The fourth quarter of 2023 saw 200 total deals, up from 181 in the third quarter, but still the lowest number of deals since 2018. Capital funding to Massachusetts firms was also down quarter-over-quarter and year-over-year. Overall, 2023 funding in the state totaled $15.9 billion, down from $21.5 billion in 2022. Nationwide, venture capital activity was slow in 2023, with deals counts relatively flat and deal value falling from previous years. Pitchbook predicts that merger and acquisition deals will pick up in 2024, but high interest rates will likely prevent a full return to 2022 numbers. AI and cleantech are expected to continue driving investment.

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