The startup investment landscape in 2023 saw a “winter” in capital raising. Venture capital activities in Vietnam continued to slow, marking the second year of decline since 2021, both in deal numbers and investment value. Though the market still sees some startups receiving funding, there are few deals of significant value. According to analysts, this funding “winter” may last until the third quarter of this year. Regardless, the market recovering and returning to record levels of startup investment, as in 2021, will take some time. It is possible that this year may be better than 2023, but the difficulties have not been overcome and a return to the pace of development seen in previous years is still some way off.