Deal­mak­ing spiked to record lev­els in April as Covid-19 trig­gered a fever of part­ner­ing. But what hap­pens to col­lab­o­ra­tions in a new world seen through Zoom?

Part­ner­ing has nev­er been hot­ter. M&A not sur­pris­ing­ly turned cold. And ven­ture in­vest­ing showed signs of cool­ing.

Re­duce the lat­est month­ly num­bers on April down to the ba­sics, and that’s the bot­tom line from Deal­For­ma chief Chris Doko­ma­ji­lar as we take the in­dus­try’s tem­per­a­ture for the sec­ond big month of an earth-shak­ing pan­dem­ic.

Paint by the num­bers and you’ll see an in­dus­try that has a col­lec­tive mind split be­tween the longterm pacts in the works for months and the Covid-19 now.

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