On the Flying Bridge July 21, 2024
Notwithstanding that deal activity in 2Q24 was at an eight quarter high with $55.6 billion invested in 4,226 companies (Pitchbook data, including estimated unannounced deals), $34.1 billion of that was invested in just 84 companies (2.0% of the total), skewed dramatically by the handful of massive AI financings. Or are we seeing an actual shift in investor sentiment to be more risk-on? Since the tempered consumer price inflation reading in early June, the Russell 2000 index has increased 6.5% while the S&P 500 index has declined 2.3%. The betting markets now price in a 100% chance of interest rate cuts in September.
Venture Capital Investment Activity
Given that $459.6 billion was raised by venture firms between 2020 – 2022, it...
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