Carta data shows that companies have become leaner and salary benchmarks have remained flat across much of the ecosystem.

With competition fierce among VCs for premium startup deals, some are turning their attention to earlier stages, causing knock-on effects for the rest of the venture ecosystem.

The West is the dominant U.S. region for overall venture fundraising. But in key sectors like fintech and health, other regions aren’t far behind.

After holding steady in 2023, the median seed valuation has now jumped in two straight quarters, a sign that VCs are feeling optimistic about early-stage startups.

The number of startup shutdowns on Carta hit a new high in Q1, with 254 company closures—a 58% increase compared to last year.

Policies meant to protect investors have had the unintended consequence of concentrating the gains of private asset classes—including venture capital—in wealthy areas.