VC funding in Asia has dropped 57% year-over-year, amounting to $15.2B.
The figure is the lowest in the last three years.
- Funding in Q1 2023 dropped 33% from the previous quarter.
- A year ago, Q1 funding in Asia stood at $35.5B, while Q4 funding in 2022 stood at $22.4B.
- Venture Capital firms closed 1,358 deals, a 5% drop from Q4 and a 42% YoY drop from 2022 (2,329 deals).
- The biggest drop among all rounds was in late-stage and growth rounds, both in dollars and percentage.
- Late-stage and growth rounds saw $7B in investment, a 64% drop from Q1 2022 ($19.7B).
