VC companies fundraise every 18-24 months…right?
Eh, not so much anymore.
The median time between primary rounds has lengthened considerably over the past 2 years. For a while the standard 18-24 months advice held pretty true (see the blue area in the above chart) but lately that's out of date.
Median time between seed and Series A is now very close to 2 years. And the median time from A to B or B to C is over 2 years.
No doubt some companies (ya, talking about AI companies here) are still ripping through venture rounds very quickly. But for the median startup, things are taking longer than expected. Don't be caught with not enough cash.
You can dive deeper into this time question and many others in our State of Private Markets, Q3 2024 report. We cover valuations, fundraising, deal terms, dilution, geo differences, and of course industry breakouts (in the downloadable addendum). Not to be missed!
As usual, if you're a VC and you want the data for each of the report charts please respond to this email - we're happy to share the data workbook with you.
Here's to a strong Q4!
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Peter Walker
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