Venture capital investment has continued to fall in June, down 52 per cent on this month last year and almost 10 per cent on May.
investors across the spectrum were tightening the purse strings.
OneVentures and Blackbird Ventures, however, had meaningfully reduced investments in January-June, down 65 per cent and 43 per cent, respectively, on the year-earlier period. Fitting with the substantial decline in later stage deals, more than 59 per cent of the VC deals closed in June were either seed, crowdfunding or small undisclosed rounds, Cut Through Venture’s figures show.
“The experience in the Australian venture market in recent years hasn’t been as heady as some of the large, offshore markets, where valuations were considerably more inflated and due diligence processes, at times, more light,” Main Sequence Ventures principal Gabrielle Munzer said.
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