PHOENIX — Venture capital deals have continued slowing down amid increasing economic headwinds across the nation during the third quarter, and it is no different in Arizona.
The latest quarterly Venture Monitor report from research firm Pitchbook and the National Venture Capital Association (NVCA) found that the deal count was 37 during Q3 in Arizona, with a total of $236.57 million poured into companies in the state.
That’s the lowest quarterly number of Arizona deals this year, and it’s even a lower number than 2019’s pre-pandemic Q3 count of 49. What’s more, the money invested was a far cry from last year’s $652.9 million third quarter as the Grand Canyon State continued to build momentum during a supercharged 2021 that saw $2.02 billion invested in Arizona companies.
The latest dollar figure was also a far cry from the previous quarter, when Arizona companies got $641.7 million in VC investments in 44 deals.
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