Corporates are still investing in startups but valuations have fallen dramatically. Some areas such as China and healthcare have been hit hard.

Corporate venture activity dropped noticeably in the second quarter, with the number of rounds involving a corporate backer down 8% from the same period last year. The total value raised in those rounds was down 42% from the year-ago period. The drop in the number of deals is much smaller, however, than for the overall…

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