Performance data for US venture funds from 2017 to 2024 shows a significant decline in median Net IRR, dropping from 11.6% in 2017 to -5.9% in 2024. The data highlights a liquidity crunch, with median DPI (Distributed to Paid-In Capital) for funds launched between 2021 and 2024 remaining at 0.00x. Consequently, the sentiment suggests holding cash may be preferable to active investing during periods of poor venture performance.