The amount of money that went into climate and cleantech venture capital investments in the first half of 2023 is roughly 29% less than the amount invested by this time last year, according to new PitchBook data shared exclusively with Cipher.

We published a similar chart in May, which prompted us to decide we’ll aim to publish similar data at roughly regular intervals twice a year: Year’s end and the halfway mark.

The chart above illustrates the impacts of both acute (Silicon Valley Bank’s collapse) and broad economic challenges (high interest rates and inflation) facing this sector.