🗣️ Asia's Venture Capital Scene Hits Turbulence: Q3 2024 Insights
➡️ Venture capital in Asia has hit a significant roadblock, with Q3 2024 marking the lowest funding total in nearly a decade. According to recent Crunchbase data, total venture dollars flowing into Asia-based startups plummeted to $13.2 billion, a figure not seen since Q1 2015.
➡️ This represents a concerning trend, with a 13% decline from the previous quarter and a staggering 44% drop compared to the same period last year. The number of deals has also taken a hit, with only 1,509 announced in Q3 — an 8% decrease from Q2 and a 23% fall from last year.
➡️ Even the much-hyped AI sector couldn't salvage the situation, with AI-related startups in Asia raising a mere $2.1 billion, down 20% from Q2. Late-stage growth rounds were particularly hard hit, totaling only $5.8 billion — the lowest since before 2015.
➡️ China's ongoing venture slide is a major factor in Asia's funding woes, with Chinese startups raising only $6 billion in Q3 — a 61% nosedive from Q3 last year. Israel's startup scene is also struggling amidst regional conflicts.
🟢 However, it's not all doom and gloom. Japan emerges as a bright spot, with Japanese startups securing $1.3 billion, a remarkable 95% increase from Q2 and 58% up from last year.
🔗 Source #VentureHighlight
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➡️ Venture capital in Asia has hit a significant roadblock, with Q3 2024 marking the lowest funding total in nearly a decade. According to recent Crunchbase data, total venture dollars flowing into Asia-based startups plummeted to $13.2 billion, a figure not seen since Q1 2015.
➡️ This represents a concerning trend, with a 13% decline from the previous quarter and a staggering 44% drop compared to the same period last year. The number of deals has also taken a hit, with only 1,509 announced in Q3 — an 8% decrease from Q2 and a 23% fall from last year.
➡️ Even the much-hyped AI sector couldn't salvage the situation, with AI-related startups in Asia raising a mere $2.1 billion, down 20% from Q2. Late-stage growth rounds were particularly hard hit, totaling only $5.8 billion — the lowest since before 2015.
➡️ China's ongoing venture slide is a major factor in Asia's funding woes, with Chinese startups raising only $6 billion in Q3 — a 61% nosedive from Q3 last year. Israel's startup scene is also struggling amidst regional conflicts.
🟢 However, it's not all doom and gloom. Japan emerges as a bright spot, with Japanese startups securing $1.3 billion, a remarkable 95% increase from Q2 and 58% up from last year.
As we navigate these choppy waters, it's clear that the Asian venture capital landscape is undergoing significant changes. For investors and startups alike, adaptability and resilience will be key in the coming months. Stay tuned for more updates on this evolving situation.
🔗 Source #VentureHighlight
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