In the first six months of the year, investment (including venture capital, private equity, and merger and acquisition activity) plummeted to US$353.7 million across 57 deals, down from US$1.09 billion across 87 deals in the second half of 2022, according to data compiled by PitchBook for KPMG in Canada. (The Logic)
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In the first six months of the year, investment (including venture capital, private equity, and merger and acquisition activity) plummeted to US$353.7 million across 57 deals, down from US$1.09 billion across 87 deals in the second half of 2022, according to data compiled by PitchBook for KPMG in Canada. (The Logic)
Talking point: The first half of 2023 was one of the weakest for valuations since the first half of 2020, when the onset of the COVID-19 pandemic shook up the economy, according to a recent KPMG report. Investors’ concern about “the state of the global economy, with fears of a recession, elevated inflation and interest rates continuing to put a significant strain on valuations” is impacting investment activity in fintech, Geoff Rush, national industry leader for financial services at KPMG in Canada, said in the release. Crypto and blockchain received the most investments by industry, with 15 total, followed by artificial intelligence and machine learning, where seven companies received investments.
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