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VC dealmaking slowed across the entire US in 2023, and Philadelphia was no exception. But maintaining its reputation for gritty resilience, the Philly ecosystem held stronger than many other, larger venture hot spots, particularly at the pre-seed and seed stages, to notch $2.4 billion across 403 deals.

In conjunction with PitchBook, PACT Philadelphia has released its 2023 Philadelphia Venture Report. The report covers dealmaking trends across sectors, stages, exits, and fundraising, including:

  • How robust pre-seed and seed financing activity in recent years paved the way for resilience at the early stage.
  • The surprising knock-on effects of valuation trends in Philly during the recent boom.
  • Resilience across diverse sectors and the contributing features of the metro area.

Media Contact:

Kristen Fitch Headshot 2024

Kristen Fitch

Senior Director, Marketing