2023 was a brutal year for start-ups and VCs. Founders had to adapt to the new reality of expensive money if they could raise any at all. Some clear-eyed founders made deep and decisive cuts to ensure they could continue building for the future. Others simply ran out of road.
Heading into 2024, there is talk about bounce backs and a return to offence. It is a fact that markets move in cycles. History tells us what goes up, comes down and goes back up. Be it the 2000 Dot-com crash or the 2008 Global Financial Crisis, there is a recovery that follows. Nearly 90% of European VCs foresee doing the same or more deals in 2024, up from two-thirds a year ago (source: Atomico’s State of European Tech)