In 2023, slower dealmaking and changing liquidity reshaped outcomes across private equity and venture capital. Track how fundraising reached $1.2T globally, while exits fell to 7,800 deals, altering exit pathways for limited partners and portfolio companies. The page also connects regional dynamics like North America’s 40% share to fund formation and return metrics, alongside themes such as AI/ML investment momentum and women-led VC growth.
Key Takeaways
- Global exits from PE portfolios reached $462 billion in 2023, down 28% YoY
- Number of PE exits globally was 7,800 in 2023, down 20%
- IPOs accounted for 15% of PE exits by value in 2023, totaling $70 billion
- In 2023, global private equity fundraising totaled $1.2 trillion, marking a 10% increase from 2022 despite economic headwinds
- North American PE firms raised $486 billion in 2023, accounting for 40% of global totals
- The number of PE funds closed in 2023 was 2,456, down 15% from the previous year
- Global PE deal value reached $743 billion in 2023, down 22% from 2022
- Number of PE deals globally was 14,500 in 2023, a 25% decline YoY
- US VC investment totaled $130.2 billion across 12,000 deals in 2023
- Net IRR for top-quartile PE funds averaged 18.5% as of 2023 vintage
- Global PE pooled IRR was 14.2% for 2018-2023 vintages
- US VC median TVPI was 2.1x for 2019 vintage funds in 2023
- Number of PE firms worldwide exceeded 5,000 in 2023
- VC deal share in AI/ML rose to 20% of total VC in 2023
- PE dry powder to GDP ratio hit 3.5% globally in 2023
In 2023, PE exits and deals fell sharply, yet fundraising rose, and strong fund performance held steady.
Related reading
01 · Category
Exits26 stats
01
Global exits from PE portfolios reached $462 billion in 2023, down 28% YoY
02
Number of PE exits globally was 7,800 in 2023, down 20%
03
IPOs accounted for 15% of PE exits by value in 2023, totaling $70 billion
04
Strategic sales made up 55% of PE exit value in 2023
05
US VC exits generated $85 billion in 2023
06
Secondary buyouts represented 30% of PE exits in 2023, value $140 billion
07
Average MOIC for exited PE deals was 2.4x in 2023
08
European PE exit value was €85 billion in 2023, down 35%
09
VC M&A exits totaled $50 billion globally in 2023
10
Number of PE IPOs was 120 in 2023, raising $60 billion
11
Asia PE exits reached $90 billion in 2023, led by trade sales
12
Median holding period for PE exits shortened to 4.8 years in 2023
13
US PE exit multiples averaged 14.2x EBITDA in 2023
14
Continuation vehicle exits generated $20 billion in 2023
15
Global VC IPOs numbered 45 in 2023, down from 150 in 2021
16
PE sponsor-to-sponsor exits hit 2,300 deals in 2023
17
Healthcare PE exits were $100 billion in 2023
18
India VC exits totaled $6.5 billion in 2023
19
Average gross IRR for exited VC deals was 25% in 2023 cohorts
20
Secondary transactions in PE reached $135 billion in 2023, up 25%
21
UK PE exits were £35 billion in 2023
22
Fintech VC exits generated $15 billion in 2023
23
Global PE distributions to LPs were $400 billion in 2023
24
Biotech VC exits totaled $18 billion in 2023
25
Latin America VC exits were $2.8 billion in 2023
26
PE exit activity in Q4 2023 rebounded 15% QoQ
Interpretation
Exits Interpretation
In the Exits landscape, global PE exit value fell to $462 billion in 2023, down 28% year over year, while IPOs made up only 15% by value and generated $70 billion, showing that exits were harder to achieve and increasingly driven by strategic sales.
02 · Category
Fundraising30 stats
01
In 2023, global private equity fundraising totaled $1.2 trillion, marking a 10% increase from 2022 despite economic headwinds
02
North American PE firms raised $486 billion in 2023, accounting for 40% of global totals
03
The number of PE funds closed in 2023 was 2,456, down 15% from the previous year
04
Average fund size for PE buyout funds reached $1.1 billion in 2023, up from $950 million in 2022
05
Venture capital fundraising in Europe hit €25 billion in 2023, a 25% decline YoY
06
Dry powder in private equity stood at $2.55 trillion at the end of 2023
07
Asia-Pacific PE fundraising reached $150 billion in 2023, led by China and India
08
Mega-funds (over $5 billion) accounted for 45% of total PE capital raised in 2023
09
First-time PE funds raised $45 billion in 2023, representing 3.8% of total fundraising
10
Continuation funds raised $50 billion in 2023, up 20% from 2022
11
US VC funds raised $78.5 billion in 2023 across 1,025 funds
12
European PE dry powder hit €500 billion by end-2023
13
Global VC fundraising declined 38% to $269 billion in 2023 from 2022 peak
14
PE secondaries fundraising reached $85 billion in 2023, a record high
15
Latin America VC fundraising totaled $3.2 billion in 2023, down 45% YoY
16
In 2023, 65% of PE capital was raised by firms with over $10 billion AUM
17
Growth equity funds raised $120 billion globally in 2023
18
Time to close for PE funds averaged 22 months in 2023, up from 19 months in 2021
19
Sovereign wealth funds committed $70 billion to PE in 2023
20
Family offices increased PE allocations to 15% of portfolios in 2023 surveys
21
Global PE capital raised in H1 2024 reached $349 billion, down 24% YoY
22
VC funds in India raised $8.9 billion in 2023
23
PE fundraising from pensions hit $150 billion in 2023
24
Number of PE funds in market dropped to 4,000 in 2023 from 5,500 peak
25
US mega VC funds (over $1B) numbered 45 in 2023
26
European VC early-stage fundraising was €12 billion in 2023
27
Global infrastructure PE fundraising was $110 billion in 2023
28
PE funds targeting AI raised $30 billion in 2023
29
Average DPI target for new PE funds rose to 1.8x in 2023
30
In 2023, global buyout fundraising was $685 billion, 57% of total PE
Interpretation
Fundraising Interpretation
Despite fewer closures at 2,456 funds in 2023, global private equity fundraising climbed to $1.2 trillion and average buyout fund sizes rose to $1.1 billion, while North America led with $486 billion and dry powder reached $2.55 trillion, underscoring that fundraising momentum is still strong even as the market gets more selective.
03 · Category
Investments28 stats
01
Global PE deal value reached $743 billion in 2023, down 22% from 2022
02
Number of PE deals globally was 14,500 in 2023, a 25% decline YoY
03
US VC investment totaled $130.2 billion across 12,000 deals in 2023
04
Mega-deals (over $1 billion) in PE numbered 380 in 2023, 30% down
05
European PE investments were €120 billion in 2023, down 28% YoY
06
VC investment in AI startups hit $42.5 billion in 2023 globally
07
Average PE entry multiple was 12.5x EBITDA in 2023, down from 14.2x
08
Late-stage VC deals averaged $50 million in 2023
09
Asia PE deal count was 3,200 in 2023, value $180 billion
10
Sector-wise, healthcare PE investments were $150 billion in 2023
11
Add-on deals comprised 62% of total PE transactions in 2023
12
India VC funding reached $8.9 billion across 1,200 deals in 2023
13
Global VC seed funding was $20 billion in 2023, down 40% YoY
14
PE investments in software sector hit $100 billion in 2023
15
Average VC round size grew to $15 million in 2023 from $12 million
16
Latin America VC investments totaled $4.1 billion in 2023
17
UK PE deal value was £45 billion in 2023
18
Fintech VC funding globally was $28 billion in 2023, down 45%
19
PE controlcar investments averaged 45% equity stake in 2023
20
Climate tech VC investments reached $25 billion in 2023
21
China PE deal value was $70 billion in 2023, down 30%
22
US PE buyout deals numbered 2,800 in 2023, value $450 billion
23
Median VC valuation for Series A was $45 million in 2023
24
PE co-investments grew to $60 billion in 2023
25
Biotech VC funding was $22 billion across 1,500 deals in 2023
26
Global PE debt financing for deals averaged 45% of enterprise value in 2023
27
Early-stage VC deal count was 5,200 globally in 2023
28
PE investments in consumer sector totaled $80 billion in 2023
Interpretation
Investments Interpretation
In the Investments landscape, 2023 saw global PE deal value slip to $743 billion with deals down 25 percent to 14,500, while AI VC funding still climbed to $42.5 billion, signaling that capital has become more selective even as targeted growth areas endure.
More related reading
04 · Category
Performance26 stats
01
Net IRR for top-quartile PE funds averaged 18.5% as of 2023 vintage
02
Global PE pooled IRR was 14.2% for 2018-2023 vintages
03
US VC median TVPI was 2.1x for 2019 vintage funds in 2023
04
Average MOIC for PE buyouts was 2.6x across exited deals to 2023
05
Top-quartile VC funds delivered 28% net IRR for 2017 vintage in 2023
06
PE DPI globally reached 0.18x for 2020 vintage by end-2023
07
European PE IRR averaged 12.5% for mature funds in 2023
08
VC gross multiples averaged 3.2x for 2016-2020 vintages
09
PE fund J-curve deepened with negative returns in year 1 averaging -5%
10
Asia PE top-quartile IRR was 20.1% for 2015-2020 funds
11
Median PE fund TVPI was 1.45x for 2017 vintage in 2023
12
VC seed stage median IRR was 15% for mature funds to 2023
13
PE value creation from operational improvements averaged 40% of total returns in 2023 studies
14
Global PE PME was 1.25x vs public markets to 2023
15
Late-stage VC TVPI averaged 1.8x for 2020 vintages
16
PE buyout IRR dispersion: top quartile 22%, bottom 8% in 2023 data
17
India VC IRR for top funds exceeded 30% annualized to 2023
18
PE NAV sensitivity to rate hikes reduced returns by 200bps in 2023
19
Growth equity median MOIC was 2.2x for exited portfolios to 2023
20
VC power law distribution: top 1% deals drove 50% returns in 2023 analyses
21
PE fund fee compression: management fees down to 1.4% in 2023
22
UK VC DPI was 0.12x for recent vintages in 2023
23
Global PE unrealized value grew 8% in 2023 despite slowdowns
24
Biotech VC median IRR was 10% for 2015-2020 funds
25
PE leverage contributed 25% to returns in 2023 exited deals
26
Fintech VC top-quartile IRR hit 35% for 2018 vintages
Interpretation
Performance Interpretation
Across PE and VC performance metrics, top-quartile funds are clearly outperforming with net IRRs of 18.5% in PE and 28% in VC for 2017 vintage results while broader pooled measures remain lower, such as global PE pooled IRR at 14.2% and PE DPI staying subdued at 0.18x for 2020 vintages by end of 2023.
05 · Category
Trends20 stats
01
Number of PE firms worldwide exceeded 5,000 in 2023
02
VC deal share in AI/ML rose to 20% of total VC in 2023
03
PE dry powder to GDP ratio hit 3.5% globally in 2023
04
Women-led VC funds managed $15 billion AUM in 2023, up 20%
05
ESG integration in PE funds reached 85% in 2023 surveys
06
VC investment concentration: top 10% startups got 60% funding in 2023
07
PE multiple arbitrage declined to 200bps premium in 2023
08
Rise of specialist PE funds: 40% focused on one sector in 2023
09
VC geographic concentration: 50% funding in 5 global hubs in 2023
10
PE GP-led secondaries grew to 20% of secondary volume in 2023
11
Adoption of AI in PE operations reached 60% of firms in 2023
12
VC down rounds increased to 15% of total rounds in 2023
13
PE interest in emerging markets rose to 25% of deals in 2023
14
Number of unicorn startups grew to 1,200 by end-2023
15
PE fund terms: 50% now include LP co-investment rights in 2023
16
VC stage shift: late-stage 45% of value in 2023 vs 30% in 2020
17
Regulatory scrutiny on PE increased 30% in filings in 2023
18
PE tech stack investments hit $5 billion annually by 2023
19
Diversity in PE: 18% female managing partners in 2023, up from 12%
20
VC syndication networks shrank 10% post-2022 in 2023 data
Interpretation
Trends Interpretation
As the trends shaping private equity and venture capital accelerated in 2023, AI and ML captured 20% of all VC deals while ESG adoption climbed to 85% across PE funds, signaling that capital is increasingly concentrating on both advanced technologies and responsible investing.
Reference
Cite This Report
This report is designed to be cited. We maintain stable URLs and versioned verification dates. Copy the format appropriate for your publication below.
APA
Margot Villeneuve. (2026, February 13). Private Equity Venture Capital Industry Statistics. Gitnux. https://gitnux.org/private-equity-venture-capital-industry-statistics
MLA
Margot Villeneuve. "Private Equity Venture Capital Industry Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/private-equity-venture-capital-industry-statistics.
Chicago
Margot Villeneuve. 2026. "Private Equity Venture Capital Industry Statistics." Gitnux. https://gitnux.org/private-equity-venture-capital-industry-statistics.
Sources & references
15 datasets cited across this report · attribution is report-level