State of the Markets

SVB’s Innovation Economy Outlook

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Key takeaways

Our H2 2023 State of the Markets report for the innovation economy uncovers the momentum we’re seeing around stabilizing valuations and investments, improved company profitability and sizable runway, as well as challenges founders face in the current economic market.


US VC investment in trailing 12 months

After 18 months of decline, VC investment levels show signs of stabilization in line with 2019-2020 levels.

+$1 trillion

Dry powder across Private Equity and Venture Capital

Record dry powder is a bright spot in the innovation economy, yet with a lack of limited partner (LP) pressure to invest, we expect capital deployment will remain slow.


Of VCs advise clients on banking decisions

An SVB survey of 80 top venture capitalists (VCs) revealed they are overwhelmingly playing an active role in how founders manage their banking decisions.