The Web3 & DeFi sector holds VCs’ attention as tech investment stumbles
Which technologies are making a splash in the venture world? Check out the latest from PitchBook’s Emerging Tech Indicator, which tracks seed- and early-stage investment at the world’s top-15 most successful VC firms, to gauge which areas of tech—from Web3 & DeFi to healthtech & wellness—are grabbing VCs’ attention.
- ETI investment fell for the third consecutive quarter, down 52% from Q4 2021’s record of $9.8 billion across 275 deals. However, the median size for early-stage deals reversed course in Q3, hitting an all-time peak of about $28 million.
- Web3 & DeFi topped the charts yet again, notching $879 million. Fintech and biotech followed close behind, while segments like insurtech and mobility gained little traction.
- The number of venture mega-deals is creeping back up to normal, with 10 ETI deals of $100 million or more recorded in Q3, including a $350 million deal for Adam Neumann’s new company, Flow.
Table of contents
|Areas of investment
|ETI segment spotlights
|Web3 & DeFi
|Healthtech & wellness
|AI & ML
|Other notable activity
|Venture activity summary
|Emerging tech indicator investor ranking