2023-05-08-PitchBook-分析师注_2023年上半年风险投资技术调查（英）_14页_936kb

2023 H1 PitchBook VC Tech Survey Summary

Overview

This survey, conducted in March 2023 with 58 venture capital (VC) investors, captures the VC community's attitudes toward technology trends and the funding ecosystem. Key themes include excitement about artificial intelligence (AI), a cautious view of future funding, and mixed perspectives on the 2022 "tech wreck."

Key Findings: AI and Technology

• AI, particularly generative AI, is viewed as the most significant driver of innovation and growth over the next 12 months.
• Investors expect generative AI to be highly disruptive over the next five years, with 70.7% believing it will foster new unicorns.
• High interest in innovation areas includes climate tech, biotech, and enterprise technology, driven by regulatory demands and AI acceleration.
• Opposing views on the 2022 tech wreck's impact: half see it stifling innovation (e.g., by reducing funding and scaring off entrepreneurs), while half see it promoting efficiency (e.g., filtering weak startups and sharpening focus).

Funding and Ecosystem Trends

• Most respondents (43.1%) anticipate a moderate or strong decrease in VC funding over the next year, partly due to the collapse of Silicon Valley Bank.
• Valuations are expected to become more attractive for 77.6% of respondents, signaling underlying market concerns.
• Fundraising plans for 2023 are largely unchanged, with confidence in strong vintage fund performance.
• Macroeconomic factors like higher interest rates (72.4%) are the biggest barriers to tech innovation; however, some note positive outcomes from the market pullback, such as talent availability for startups.

Survey Demographics and Methodology

• Respondents span various roles and geographies, with a focus on AI, fintech, and enterprise tech investments.
• Sample limitations: Reflections are based on 58 participants from global VC firms.