VC fundraising shows sharp drop in Chicago to begin 2023
In the first quarter of 2023, local startups raised around 63% less from VCs than they did a year ago.
PitchBook released data this week that showed venture capital activity in the U.S. had continued to decline during the first months of 2023. Chicago was not an exception. The factors driving the drop were inflation, bank failures, and global instability.
Local startups raised 63% less money from VCs during the first quarter 2023 compared to a year earlier.