PALO ALTO, U.S./NEW YORK -- The number of freshly minted unicorns -- unlisted companies valued at $1 billion or more -- is plummeting worldwide as investors have become more risk-averse amid concerns about a potential economic slowdown caused by monetary tightening in the U.S. and elsewhere.
With the money spigot running dry, the average monthly number of new unicorns fell to 7.3 companies in the first half of the year, down roughly 80% from a peak of 50.5 recorded for all of 2021, according to U.S. data provider PitchBook. In the U.S., venture capitalists have begun to shift focus to discovering and nurturing promising companies rather than finding investment opportunities for quick gains.
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