Preqin Quarterly Update: Venture Capital Q4 2022

Tighter financial conditions and general risk aversion continued to slow activity across the venture capital industry in the fourth quarter of 2022. Valuation multiples have been falling across both public and private markets, with venture capital positions arguably the most sensitive to higher interest rates and risk averse sentiment. As with the private equity market, we expect venture capital to remain in an adjustment period while portfolio valuations take time to mirror the declines in public markets.