The volume of investments in startups aspiring to become unicorns - with a market value of more than US$1 billion before going public - dropped by more than 50% last year.
From US$9.8 billion contributed to these companies in 2021, the amount dropped to about US$5 billion in 2022, according to Distrito's survey for the "Unicorn Race" report.
With less capital available in investment rounds, the number of Brazilian startups that achieved unicorn status last year fell dramatically: from ten in 2021 to just two in 2022 - the fintechs Dock and Neon.
Both reached a billion-dollar . . .
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