This annual report analyzes venture capital activity in 2023–2024, covering deal structures, valuation dynamics, exit conditions, and evolving investor protections. It highlights tighter financing conditions, increased use of structured terms, and longer exit timelines as the market normalizes after the boom years.

A practitioner-grade snapshot of how VC terms, governance, and exits are evolving in the current cycle. Especially relevant for founders and investors negotiating rounds in a more disciplined, lawyer-driven market.