PitchBook-NVCA Venture Monitor

The PitchBook-NVCA Venture Monitor, produced by NVCA and PitchBook, is the authoritative quarterly report on venture capital activity in the entrepreneurial ecosystem.

What’s new: Our newly released Q2 2024 PitchBook-NVCA Venture Monitor report, created in partnership with J.P. Morgan, Dentons, Deloitte, and Juniper Square with data and analysis on quarterly U.S. VC dealmaking, exit, and fundraising activity. 

At a glance, Q2’s venture numbers look promising: With $55.6 billion invested, deal value rose to an eight-quarter high. But $14.6 billion of that capital was concentrated in just two companies—CoreWeave and xAI. For everyone else, fundraising is a challenge as LPs remain reluctant to double down on the asset class.

Key takeaways

  • The market has bottomed out and valuations are rebounding—but those up rounds are concentrated within a small cohort of high-growth startups, while middle-of-the-road startups are struggling. 
  • Sluggish stock performance for companies outside of the Magnificent 7 is dampening the exit outlook, further entrenching LPs’ caution. 
  • As distribution-to-AUM rates continue to worsen, more VCs are taking to the secondaries market to secure much-needed liquidity. 

What’s next: Sign up to join the Venture Monitor team on July 31 for a webinar discussing the ongoing hurdles driving startups and their investors to approach the new year with great caution. And don’t forget to download the report and data pack to dive into the details.

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Special thanks to NVCA’s official data provider, PitchBook.