Full data on Q2 2024 for US startups - are thing getting better?
Cautious yes on that one.
Highlights from our State of Private Markets report below, but you should read the full thing for 25+ charts and thoughtful analysis: https://lnkd.in/g5vjXgTJ
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1. Total fundraising grew from $18.7 billion in Q1 to $20.9 billion in Q2 across all US startups on Carta. Not a major shift, but steady improvement.
2. The percent of all rounds that were down rounds fell from 24% to 17% quarter over quarter. This is an good signal as down round percentage had been climbing since mid-2022.
3.Β Β Percent of bridge rounds fell for every stage except seed. More capital betting on new companies vs supporting current ones from VCs (so good for some, bad for others).
4. Number of total acquired companies hit the highest mark since Q3 2022. Animal spirits flowing again?
5. Capital more concentrated in major markets, but strong showings from TX, FL, CO, and WA outside of the traditional Silicon Valley / NYC axis.
6. Dilution per round for primary fundraising either held steady or fell in Q2. Good deals to be had for the founders who can raise them.
7. Strong median valuations at Seed and Series A: $15M pre-money and $40M pre-money respectively.
8. Percent of deals with a liquidation preference over 1x fell in Q2.
9. Percent of deals with participating preferred stock fell in Q2.
10. Time between rounds still very high compared to the prior 4 years.
This isn't a 2021 boom time - but it's a good deal better than 2023 π
#startups #fundraising #founders #venturecapital
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