How these Philly Founders and Investors Pushed through the Pandemic

While just about everything was unpredictable in the year 2020, venture capital trends looked extra surprising.

While the first half seemed like a wash, Philly startups ended up raising an impressive amount of capital in late 2020. Companies raised something like $1.8 billion across more than 200 deals by the year’s end, recording the region’s second-highest annual deal value and third-highest deal count to that date, despite the pandemic’s economic impact.

But it makes sense that when a global crisis strikes, VC and startups take a shock to the system. In those situations, companies either sink or swim, we heard at Philadelphia Alliance for Capital and Technology’s (PACT) 2022 Capital Conference last week. During a panel, investors and the founders of companies in their portfolio talked about how they made decisions in those early, pivotal moments of the global crisis.