Investments·Updated Jun 25, 2026 by InvestGame
Total M&A activity collapsed in H1 2023, with deal volume falling to 71 closures and aggregate value plummeting to $0.9 billion, a 31-fold decrease compared to the same period in 2022.
Private capital investment dropped significantly to $1.5 billion across 239 transactions, representing a 24% decline in deal count and a five-fold reduction in total value relative to H1 2022.
Early-stage pre-seed and seed rounds experienced the most severe impact from the market contraction, while late-stage venture financing was limited to just 12 deals totaling $40 million.
Corporate investors maintained a deal volume similar to 2022 levels—15 deals versus 17—but significantly reduced total spending as part of a broader strategic pivot toward cost optimization.
Public market activity remained muted with only 30 listings or PIPEs recorded, though U.S. markets showed signs of tentative recovery compared to persistent weakness in Europe.
North America led the global landscape in early-stage financing with 24 deals totaling $138.7 million, while participation remained limited across Eastern Europe, MENA, and Latin America.
Total M&A activity collapsed in H1 2023, with deal volume falling to 71 closures and aggregate value plummeting to $0.9 billion, a 31-fold decrease compared to the same period in 2022.
Private capital investment dropped significantly to $1.5 billion across 239 transactions, representing a 24% decline in deal count and a five-fold reduction in total value relative to H1 2022.
Early-stage pre-seed and seed rounds experienced the most severe impact from the market contraction, while late-stage venture financing was limited to just 12 deals totaling $40 million.
Corporate investors maintained a deal volume similar to 2022 levels—15 deals versus 17—but significantly reduced total spending as part of a broader strategic pivot toward cost optimization.
Public market activity remained muted with only 30 listings or PIPEs recorded, though U.S. markets showed signs of tentative recovery compared to persistent weakness in Europe.
North America led the global landscape in early-stage financing with 24 deals totaling $138.7 million, while participation remained limited across Eastern Europe, MENA, and Latin America.