Beacon Macro View: Q3 2023
It was an action-packed Q3 with new opportunities, portfolio work and a trip to San Francisco: invited to join a panel at TechCrunch Disrupt to discuss founder liquidity, we took the opportunity to (re)build our US connections and also get the pulse of Silicon Valley which sums up as: “Generative AI will save us all” and “China is out/Europe is (maybe) in”. We even experienced the local community in San Francisco coming to our rescue when one of our laptops got snatched in front of our own eyes! Yes, sadly the San Francisco bay area has changed since the good old days…
We also celebrated Jamie Beaton, Founder CEO of Crimson, receiving the EY Entrepreneur of the Year Award while also — in his spare time?! — passing his Bar exams, adding this to his eight college degrees. He is 28 years old btw.
VC deployment, valuations & exits
Did we accidentally call the bottom of the market in terms of VC dollar deployment in our last report?! We wrote “the storm of the past 18 months is in its death throes (maybe)” and the Q3 VC investing volume suggests we may have been correct.
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