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Global Venture Capital Outlook: The Latest Trends

2024 kicked off with significant momentum, thanks to sizeable investments in healthcare, energy, and AI.

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Global Venture Capital Outlook: The Latest Trends

In the first quarter of 2024, global venture capital funding grew by approximately 16% quarter over quarter, reaching $89 billion distributed over 4,600 deals (see Figure 1). The US experienced the most substantial spike, with a 72% quarter-over-quarter increase in funding, aided by large investments in technology, AI, energy, and healthcare. China saw a 13% increase in quarter-over-quarter funding, bolstered by investments in the automotive and AI sectors. In contrast, Europe reported a 28% decline in funding, primarily because of ongoing macroeconomic uncertainty and the UK’s technical recession.

Average deal sizes grew across all funding stages, with early-stage deals recording 43% quarter-over-quarter growth, followed by seed- and late-stage deals with sequential growth of 17% and 21%, respectively (see Figure 2). In particular, Series B deals surged, propelled by sectors such as generative AI, clean energy, and healthcare.

While the number of corporate venture capital (CVC) investors remained stable, there was a noticeable increase in CVC-funded deals in the first quarter of 2024 (see Figure 3). Early- and seed-stage deals in energy, AI, and healthcare fueled the rise in activity.  

Generative AI continues to dominate the venture capital landscape. While foundation and large language models saw the lion’s share of funding, given their capital-intensive nature, other categories experienced more robust growth over the last quarter (see Figure 4). An increasing number of nontech CVCs are jumping on the trend, with LG Technology Ventures, CVS Health Ventures, and Capital One Ventures leading deal activity globally over the past year. There’s also been a notable rise in corporates partnering with start-ups to make generative AI more accessible for their customers.


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