Venture capital investment marked its lowest in Q3 2022 since the first quarter of 2020 when the world was just entering into a pandemic and only $19.6 billion was raised by startups in the region.

Funding sank to its lowest level in 10 quarters, a trend not unique to only Asia, largely driven by a drop in late-stage funding as the region felt the full effects of the current private market pullback.

The number of investment deals also saw a decline as only 1,417 deals were announced in Q3 2022, down 18% from last quarter and 22% from a year ago.

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