During Q2 2023, VC activity leveled off compared with the prior quarter’s steep QoQ declines. Deal count declined 11.2% from Q1 to 190 deals, but deal value increased 12.5% to $3.0 billion. The improvement in deal value during the quarter may reflect a resumption of investment activity following a pause at the end of Q1 related to caution surrounding the closure of Silicon Valley Bank. On a YoY basis, deal count and value were down 42.8% and 69.1%, respectively. Across segments, Last-mile delivery saw the largest overall value with just over $1.0 billion in deals during the quarter. The enterprise supply chain management segment had the largest number of deals in the quarter at 38. The warehousing tech segment had the largest QoQ increase in value, up 78.4%. Across stages, venture growth experienced the largest uptick in value, more than doubling QoQ, while the number of deals declined modestly across all stages in the second quarter.