2023: Fintech wins big, with 80% drop in secondary deals

In 2023, there was an 80% drop in secondary deals and a 62% drop in startup funding, according to research by PrivateCircle. Fintech and SaaS saw the highest number of secondary transactions, indicating their ability to provide exits for investors. The study also revealed that primary funding rounds dropped by 62% compared to the previous year. However, venture capital funds are still well-funded and expected to pick up the pace later in the year. Despite the decline in funding, startups with strong business fundamentals were able to secure significant rounds, such as Lenskart’s $500 million funding from Abu Dhabi Investment Authority.+