Episode 27 - VC Funding, Dry Powder, 10 Year at a 15 year high

The Exit Strategy Podcast

In Episode 27 we discuss Fundraising by venture-capital firms hitting a nine-year low in the fourth quarter. Venture firms raised $20.6 billion in new funds in the fourth quarter. That was a 65% drop from the year-earlier quarter and the lowest fourth-quarter amount since 2013. “Dry powder” would prove to be “wet powder ” as venture capital funds opt to support existing portfolio companies through rough times over making new investments. Recent data from the secondary marketplace shows that bridge rounds became more common during Q4 2022 at every stage, from Series A to Series D. Treasury yields hit new highs last week, with 10-year yields approaching 4% and two-year reaching 4.7%. Short-term US Treasury yields reached their highest peak since July 2007 last week, after new official data revealed the US economy is still coming in hot. The ten-year Treasury yield is an indicator many use as a benchmark for the economy. The Fed is more determined than ever that more interest rate increases are needed. Let’s take a look at what’s driving yields up and if inflation is here to stay.

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