Venture capital investments tank in Q2, but local investors still optimistic

Winter Park, Florida

Available venture capital for Orlando-area businesses took a huge hit this past quarter.

Nearly $94 million in venture capital was invested into businesses in second-quarter 2023 — a 71% year-over-year drop from Q2 2022's $323 million invested, said a report provided by PitchBook.

One possible reason for the year-over-year slowdowns in venture capital in Orlando and across the country, according to economist Sean Snaith, director of University of Central Florida’s Institute for Economic Forecasting: the failure of Silicon Valley Bank. Snaith called SVB a "venture capital-centric bank."