This document is a report on the e-commerce venture capital ecosystem, providing an overview of trends in the fourth quarter of 2023. The report examines key investment areas, including buy now, pay later (BNPL) services, supply chain operations, and fraud prevention. It also explores emerging opportunities in integrated commerce through platforms like Roblox and Fortnite, and marketplace enablement, highlighting how startups are innovating in areas like drop shipping and marketplace analytics. The report concludes by providing profiles of three notable e-commerce companies: Crisp, Kevel, and Fluent Commerce.