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Erick Schonfeld is a technology journalist and the former Editor in Chief of TechCrunch.
VCs (And Startups) Won’t Be Immune To The Credit Crunch
No Exits. Liquidity Dries Up Even More For VC-Backed Startups In
The liquidity drought for venture-backed startups, which was already declared to be a crisis in the second quarter when not a single VC-backed IPO went out, continued in the third quarter. For the first three quarters of the year combined, IPOs brought in only $470 million and M&A activity totaled $11.3 billion, a steep decline from prior years (see chart). Don’t expect the situation to get better any time soon.
