Link to original article: Q1 2023 Emerging Tech Indicator
Top VCs maintain check sizes for tech
Median deal size stood out for emerging tech in Q1. VC growth and rising valuations have kept early-stage median deal sizes ticking up in recent years. PitchBook’s Emerging Tech Indicator tracks angel-, seed-, and early-stage investment at the world’s top 15 most successful VC firms, giving insight into their strategy through the downturn.
- The increase in total ETI deal value was small, roughly $200 million, but it reversed a three-quarter decline.
- Biotech startups led the indicator in deal value, with the AI & machine learning sector following. Web3 & DeFi, a darling of top VCs in previous quarters, still generated enough interest to take second in deal count.
Table of contents
| Introduction | 3 |
| Key takeaways | 4 |
| Deal activity | 5 |
| Areas of investment | 6 |
| ETI segment spotlights | 12 |
| Biotechnology | 13 |
| AI & ML | 16 |
| Infosec | 19 |
| DevOps | 22 |
| Gaming | 25 |
| Other notable activity | 28 |
| Venture activity summary | 30 |
| ETI investor ranking | 33 |