Companies are prioritizing efficiency, lean hiring, and AI adoption to cut costs and extend runway in a post-bull market venture climate. The trend crosses most sectors and industries.

Data from more than 1,500 corporations and 500 LLCs that are backed by private equity firms sheds new light on how equity compensation works within the multitrillion-dollar industry.

We examined the states that have consistently been the largest for seed investment—California, Colorado, Florida, Massachusetts, New York, Texas, and Washington—and found that the typical round size and valuation can vary widely.

Round sizes are getting smaller, as tech innovations are transforming the industry and creating leaner models. In this Industry Spotlight, we explore the data and the impacts for founders and investors.

The boom times of 2022 have come to an end. The LP base has downsized, anchor checks have shrunk, and venture fund managers are adapting to a new reality. Carta has all the data on performance, including IRR, DPI, TVPI, and more.