Global cooling
Much is spoken about global warming but right now Climate Tech is facing an unwelcome spell of ‘global cooling’ as deal values decline.Although far from becoming an Ice Age, the level of funding for Climate Tech has reached a three-year low, with quarterly deal value down 50% from its high point in Q3 2021. According to Pitchbook, start-up firms attracted $5.7 billion in new capital in the first quarter of this year. VC managers will be praying to the rain gods that the current environment doesn’t turn in to a prolonged drought.
