After investing a significant amount into the Australian tech sector in 2021, major US venture capital firms have dramatically pulled back on local deal making in the second half of the year, new data has shown.
Following a pandemic-induced hot streak, 17 of the most active US VC firms in Australia made just seven investments in the second half of 2022, compared to 28 and 39 in the two halves prior, according to figures from Cut Through Venture.
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Tess Bennett is a technology reporter with The Australian Financial Review, based in the Brisbane newsroom. She was previously the work & careers reporter. Connect with Tess on Twitter. Email Tess at tess.bennett@afr.com
