Most recent ev.

Since the second quarter of 2022, the venture capital space has lacked good news. Quarter after quarter of dire data has left the sector gasping for some positive news to cling to. Although we won’t be able to determine whether the data released in the Q2 2024 PitchBook-NVCA Venture Capital First Look is truly a turning of the tides until data for subsequent quarters is released, it certainly hints at the signs of recovery that the venture space so desperately needs. From exit value, fund size, deal activity, and the number of new funds, the data in this quarter’s report looks set to insert wind into deprived sails! Indeed, without getting ahead of ourselves, this is the most positive we at Juniper Square have been about the venture capital space in the past two years.

Q2 2024 saw 155 venture capital funds record a successful close. This is the first quarter over 150 since Q4 2022. This number is even more noteworthy because the average fund size in this past quarter was $181.3MM. As a comparison, in Q4 2022, the average fund size was only $66.5MM. Indeed, the $28.1B raised by GPs in Q2 is over a 200% increase compared to Q1 and the highest total raised since Q3 2022.

Of particular note (and highlighted by the graphs above and below) is that although Q2 has been positive regarding the number of total funds and amount of total capital raised, for the past six quarters, each upward quarter was followed by a downward quarter. With this in mind, we are waiting for Q3 data to see if the positive figures in Q2 are maintained and built on.