There are still opportunities in VC firms despite a drop in funding, says 500 Global
Publishing timestamp: 2023-02-27 01:27:25
Summary
Global venture funding dropped by 35% in 2022, but venture capital firm 500 Global remains bullish. They manage more than $2.7 billion in assets and have invested in early-stage tech companies such as Canva, Grab, and eFishery. Despite the drop in venture funding, 500 Global is optimistic about the sector and believes that there is an unprecedented amount of "dry powder" of $15 billion in venture capital, especially in Southeast Asia. They are taking a long-term view on technology and believe that private valuations are underwritten with a far longer term time horizon and are less affected by daily news cycles or companies' financial results.
Sentiment: POSITIVE
Tickers: A6I-FF,
Keywords: technology, start-up, internet, venture capital, business news, grab holdings ltd, world economy, mergers and acquisitions, world markets,