It’s easier than ever to connect with VCs, but it’s not any easier to get them to cut a check

You probably already know this story:

A split-screen image: On the left, a smiling woman receives a handshake; on the right, a stressed man looks down at a laptop.
  • In 2021, venture capitalists invested $694B in startups across the globe. Times were good.
  • In 2022, that dipped to $462B and times were suddenly less good.
  • In 2023, VC funding dropped further, to $285B, ushering in mildly apocalyptic times.

With global startup funding totaling a lackluster $66B in Q1, entrepreneurs’ 2024 likely isn’t faring much better.

Great, thanks, so encouraging…

… Yeah, sorry, the overall funding landscape isn’t so great right now. The era of VCs throwing all caution to the wind has passed.

  • Even once-hot fields like blockchain gaming are moving out of their “FOMO” era to a higher level of scrutiny.

But a founder without optimism is like a college campus without a drum circle — it just feels off — so let’s feed that hope: There are more opportunities to shoot your shot than ever before...

The crush of venture fundraising platforms keeps growing

AngelList remains the most famous player among dealmaking sites, but there’s an overwhelming assortment of other virtual programs aiding startup discovery, from OurCrowd to Angel Squad to Wefunder.

And now the latest addition to the party is Cherub, a new dating app-inspired VC-matching entrant, per TechCrunch.

Cheekily referred to internally as “the Raya for deal flow,” Cherub has investors and entrepreneurs curate profiles based on their preferences, then indicate interest in others’ profiles; if the two match, the VC love story begins.

One more cause for optimism

There’s more cash coming into play — if you’re in the right fields. (Bear in mind: biotech, health care, and AI startups have landed 41% of this year’s VC cash.)

Andreessen Horowitz, the LeBron James of VC firms, just raised $7.2B to invest in AI, gaming, and startups that advance American interests.

Also this week: Regeneron announced a $500m VC fund focused on biotech innovation, and Chevron similarly infused its VC arm with $500m, seeking climate-friendly tech.

Oh, and if it helps, we’ve also got some excess CVS ExtraCare bucks on hand. Pitch away for those anytime.

Topics: Vc

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