VCs shift focus to AI

Published 12 October 2023


Pitchbook’s Emerging Tech Indicator (ETI) tracks global investment activity across types of technologies, with special focus on successful VCs. In the newest quarterly report for Q2 2023, key takeaways include:

  • Deal activity continued to decline: ETI deals decreased to USD 3bn over 120 deals, down from USD 3.18bn and 133 deals in Q1.
  • AI & ML dominates, Web3 collapse: AI & ML and e-commerce came out strong as the dominant sectors for ETI investment, consisting of 25 of the 120 tracked deals.
  • The number of large deals has normalized: In Q2, there were a total of seven ETI deals worth more than USD 100m, a decrease from the 14 deals in the same quarter last year. These seven deals are consistent with the historical average of five, as 14 deals were record high.

Read the full report here.