Startup founders find it difficult to raise funds, investors step back

The economic turbulence of 2022 has entered 2023, even getting worse, and startup founders are finding it all the more difficult to raise funds amid the global macro-economic conditions.

Amid a deepening funding winter, only 53 per cent of startup founders had a positive fundraising experience (71 per cent of those who attempted to raise) in 2022, down from 92 per cent in 2021.

Startup founders expect this year to be challenging, with 58 per cent of founders expecting a tough fundraising environment, according to a recent report by InnoVen Capital, Asia’s leading venture debt firm.