As venture capital momentum slowed in late 2022, fewer dollars flowed to Wisconsin startups last quarter compared with earlier in the year and in the same quarter of previous years.

But 2022 as a whole was still a historically strong year for venture capital deals backing companies in Wisconsin. Seeking economic development and high-paying jobs, the state’s startup ecosystem continues pushing to establish itself as a regional tech hub — a goal that can be measured in part based on the amount of venture capital raised by companies in the state.

Wisconsin startups raised $32.7 million across 19 deals in the fourth quarter and $526 million across 92 deals for the full-year 2022, according to a Jan. 12 report from PitchBook and the National Venture Capital Association — down compared with $90.8 million across 25 deals in the fourth quarter of 2021 and $592 million across 105 deals for the full-year 2021.

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