GCV recorded just 205 deals worth $7.42bn involving corporate investors from the IT sector in Q2. That is down more than 60% from last year.

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Photo by Gevorg Avetisyan on Unsplash

Tech companies slowed down their investments in startups, both number and dollar terms, in Q2 of this year, as a long-overdue market correction gripped the sector.

GCV recorded just 205 deals worth a collective $7.42bn involving corporate investors from the IT sector in the quarter from April to June this year. That is down from 269 deals worth $19.92bn — down more than 60% —  in the same quarter last year.

Venture deals backed by IT corporates month by month 2021-2022

The drop in investment follows a sustained tech boom, that started in the years after the financial crisis and reached its pinnacle during the past two years. Rampant digitisation — from smart homes and factories to IoT and artificial intelligence had already stoked growth, with…

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Kaloyan Andonov

Kaloyan Andonov is head of analytics at Global Corporate Venturing.