In the first half of 2024, global private equity fundraising experienced a significant decline, with capital raised amounting to $365.75 billion, a drop of approximately 20% compared to the $919.27 billion raised in 2023. The number of private equity fund launches also fell sharply, totaling 365, which is a 47% decrease from the same period in the previous year. Despite these challenges, private equity firms increased their spending on venture-backed technology companies, although the deal count has not yet returned to the highs seen in 2021. Additionally, biotech venture financing showed signs of recovery, ending a 2.5-year decline in the first half of 2024, with a notable increase in investment in biopharma during the second quarter. The contrasting trends in the IPO market and private rounds indicate a complex landscape for private equity and biotechnology investments.