Maryland, in a reflection of a nationwide slowdown, had a quiet third quarter of venture capital deals in 2022. Maryland only saw $171.48 million invested through 32 VC deals, the smallest dollar amount invested in area companies since Q4 of 2017, according to the Pitchbook-NVCA Venture Monitor report. In Baltimore, the number of deals also declined, with local companies raising $68.54 million in 13 deals, down from $130.15 million in 23 deals in Q3 of 2021. The country as a whole also suffered from a slowdown, with the lowest fundraising amount since Q2 of 2020.
Maryland startups record weakest quarter for venture capital dollars since 2017
October 13, 2022