2024 Predictions: State of Venture Capital and Startups
Will 2024 be better than 2023?
2023 was not a great year for venture capital and tech startups. According to Crunchbase News, for the first three quarters of 2023, global funding reached $221 billion, marking a 42% decline year over year so far, down from the $381 billion invested in the same timeframe in 2022.
On January3, 2024 5 pm PST (Jan 4, 2024, 9am HKT), come join me and Alfred Chuang at this FoundersHK discussion on this topic of "A 2024 Outlook for Venture Capital, Technology and Startups". We will discuss:
- How the global tension impact venture investment allocation and strategies
- Will startup valuation be shifted and adjusted further in 2024?
- Will IPO and M&A make a comeback in 2024?
- What industries and sectors are we are bullish or bearish on
About Alfred Chuang
Alfred Chuang is the founder and general partner at Race Capital. Recognized by Andreessen Horowitz as the “Silicon Valley CEO’s CEO”, Alfred is an accomplished entrepreneur and venture capitalist. Race Capital is a world class venture capital firm for all things software infrastructure with many industry transformational portfolio companies including Databricks, Goodnotes, Lightning Network, Opaque, Zeet, and many more to come.
Prior to Race, Alfred co-founded and took BEA Systems public (Nasdaq: BEAS). In addition, Alfred became BEA’s chairman of the board where he remained until BEA was sold to Oracle in 2008 for $8.6B. BEA was the fastest enterprise technology company to reach revenue of USD$1B. Prior to BEA, Alfred spent almost 9 years at Sun Microsystems, Inc. During his tenure, Sun grew from less than 1000 to 60,000 people strong with revenue over $6B. Alfred led product development, network infrastructure, systems architecture, and expanded Sun’s business to Asia.
Alfred’s notable awards include C/F Silicon Valley Philanthropist of the Year, SD Forum Visionary Award, CIO Magazine 20/20 Vision Award Honoree and Community Star from Asian Americans for Community Involvement, eChina Forum Silicon Valley Award Honoree, and Ernst & Young Entrepreneur of the Year finalist. University of San Francisco President’s Ambassador, UC Davis Outstanding Alumnus Award, UC Davis Distinguished Engineering Alumni Medal. Alfred received a B.S. in computer science from the University of San Francisco and a master’s degree in computer science with specialization in distributed data management from the University of California, Davis. Alfred also attended St. Andrews College and Wah Yan College.
About Edith Yeung
Edith Yeung is a General Partner at Race Capital – an early-stage Silicon Valley venture capital fund investing in all things infrastructure. Edith is the seed investor in Solana (has been dubbed one of the best venture investments of all time), Lightning Network, Agora.io, Placer.ai, RapidAPI, and 60 other amazing startups.
Prior to Race Capital, Edith was a partner at 500 Startups, the world’s most active early-stage fund and incubator which invested in Twilio, Credit Karma, Grab, and 2000 more companies.
Before 500, Edith was the general manager at Dolphin Browser, a Sequoia Capital – backed mobile browser with over 150 million installs worldwide. Edith also worked with many Fortune 500 companies such as Siebel, AMS, AT&T Wireless, and Autodesk. She frequently speaks on venture capital, women in leadership, China and Silicon Valley technology and investment landscape. She is also a frequent guest lecturer at Berkeley and Stanford and commentator on BBC, CNBC, Wall Street Journal, Bloomberg, SCMP, Techcrunch, The Information, etc.
About FoundersHK
FoundersHK is a nonprofit, nonpartisan organization with the mission to build Hong Kong as the next tech hub of the world.
FoundersHK is a global community of entrepreneurs, technology leaders and investors passionate about propelling the next generation of Hong Kong founders to scale and thrive in all parts of the world. FoundersHK is an entryway for Hong Kong founders to Silicon Valley and the rest of the world. We put the right people together, to help Hong Kong founders become an integral contributor to the global community of tech innovation leadership.
FoundersHK is a community where we skip the bullshit, get right to work, and deliver results. For that is the essence of the true Hong Kong spirit.