Venture capital continued its slump in 2024—with Asian deals hitting their lowest count in a decade

(Credit: Paul Yeung—Bloomberg/Getty Images)

There’s a lot less money flowing around in Asia’s private markets. High interest rates, geopolitical tensions, and weakness in China, the region’s largest and most important economy, have crimped risk appetites across venture capital firms. 

2024 proved to be even worse. Just over 27% all deals happened in Asia last year, the lowest share in over a decade, according to the Q4 2024 PitchBook Global Venture First Look released Tuesday.