The Emerging Tech Indicator provides a quarterly review of seed- and early-stage investment activity involving a limited subset of the world’s most successful VC firms that account for roughly 10% of total VC investment. The analysis provides a unique perspective into the types of technologies top investors view as the most promising, while also tracking how aggressively they are making capital allocation decisions.

In the fourth quarter of 2022, we tracked 130 early- and seed-stage deals that involved the top 15 VC firms (relative to 5,730 total early- and seed-stage VC deals). These firms are determined each quarter based on the success of their investments over time in terms of exits and valuations. As shown in the two adjacent charts, ETI startups identified via our top-15 methodology have strongly outperformed the broader VC industry, exhibiting higher exit rates and higher valuations. This report provides a review of the products and technologies being developed by ETI startups.