The top 10 VC investments in Phoenix included companies in a variety of industries.
$12 million in Series B for Phoenix-based soil health technology company MyLand Nationwide, venture capital investments are “readjusting as businesses assess the current economic landscape,” following years of frenzied activity and soaring company valuations, according to Pitchbook’s report.
Late-stage venture capital was heavily impacted by volatility in the stock market as public listings of VC-backed companies declined to levels not seen since the early 1990s with just 14 listings occurring in the fourth quarter and 76 in 2022, the report said. Angel and seed-stage deal activity in 2022 remained “relatively resilient” with $21 billion invested across 7,261 deals nationwide, Pitchbook said.
Late-stage investment activity dropped to a total of $13.5 billion across 936 deals in the fourth quarter, the lowest quarterly value recorded in five years, according to Pitchbook.
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