THE GHOST TRAIN
THE FINANCE GHOST: Trouble ahead in venture capital paradise
The easy money is coming to an end for founders, with capital for the later rounds already starting to dry up
It’s easy to assess listed index performance and see that 2022 has been a bear market, with equities down sharply and even the resources index on the JSE having given up nearly all its year-to-date gains. It’s not as easy to think about the downstream impact on the private market, in this case the venture capital ecosystem, as you can’t pull that up as a stock code.
I’m seeing founders on Twitter panicking about liquidity drying up, particularly for the Series C rounds and later. This feedback from the coalface is as close as you’ll get to a stock code in this space...