How Do Philly’s Q3 Venture Capital Deals Compare to the National Trends?

Despite a national decline in deal count, deal size and valuations this year, Philadelphia saw an increase in capital invested during Q3.

According to data released by PitchBook and the National Venture Capital Association (NVCA) in their Q3 2023 PitchBook-NVCA Venture Monitor, the Philadelphia region raised $750.31 million across 75 deals last quarter.

During the second quarter of the year, the Philly region raised $492 million across 95 deals; that came after a first quarter with $542.42 million raised over 101 deals. These numbers followed two years of impressive venture capital figures in the area.