New Delhi, Oct 21 (TIWN) Global VC investment fell for the third straight quarter, from $136.8 billion in the second quarter of 2022 to $87 billion in the third quarter of 2022, a new report said on Thursday.

“Significant market volatility, ongoing geopolitical and economic turmoil, including fears of a recession, have led to a continued and significant cooling of global VC funding,” Jonathan Lavender, Global Head, KPMG Private Enterprise, KPMG International, said in a statement.

“Despite five deals closing with values over $1 billion, the VC environment has seen the overall number of deals drop to its lowest levels since 2017 and the value of those deals slump to mid-2020 levels; the peak of the pandemic and lockdowns,” Lavender added.