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Will record levels of dry powder trigger a delayed explosion of startup investment?

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Raphael Mukomilow
Contributor



Raphael Mukomilow is partner and head of growth at Picus Capital. His focus is later-stage and growth investments. 





Pierre Bourdon
Contributor



Pierre Bourdon is an investor at Picus Capital.


After the challenging year that was 2022, one might think that the coming months are not looking great for VCs or founders.
But, “dry powder” — money raised by VCs that hasn’t yet been deployed — has risen to record levels. Venture capital investors in the United States, for instance, are

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