And just like that—venture capital funding has hit a new three-year low.
Startups around the globe raised a collective $58.6 billion in venture funding in the first quarter—dropping 13% from the last quarter and at their lowest levels since pre-pandemic, according to new data from CB Insights. In the U.S., numbers were a bit steadier, but only because of Stripe’s whopping $6.5 billion funding announcement in mid-March. International startups, in particular, are struggling to fundraise at the same levels they had been, with funding in Latin America, Asia, and Europe declining by 54%, 27%, and 12% respectively.
There were more than a dozen unicorns minted—13 to be exact—with four of them being A.I. developers. That’s fewer new unicorns than we’ve seen since the first quarter of 2017.
Here’s how venture capital is shaping up, in four charts:
See you tomorrow,
Jessica Mathews
Twitter: @jessicakmathews
Email: jessica.mathews@fortune.com
Submit a deal for the Term Sheet newsletter here.
Jackson Fordyce curated the deals section of today’s newsletter.
