Yeah, the data is bad, but I’m still optimistic about emerging managers

Emerging managers have been on the same rollercoaster as startups for the last few years. Funding to these young firms swelled in 2021 as venture was hot overall, but in line with the broader market, fundraising has slowed to a trickle since the beginning of 2022.
The trend continued into 2023. New data from PitchBook shows that U.S.-based emerging managers raised a collective $1.62 billion in Q1. This doesn’t put this group on track to reach the volume seen in 2022, which was $37.26 billion. And that was already down from the $55.81 billion the year prior. Experienced managers raised mo

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