That’s what was reported by the SBE Council for deals in 2022 and 2023. In 2023, the combined deal value of pre-seed and seed experienced a sharp YoY decline, slipping from $24.2 billion to $14.6 billion. Reasons for the decline? International political events as well as increased risk and uncertainties in the U.S. in light of regulatory activism. #IdeaoftheDay