The details of how private funds operate have always remained behind the curtain. Now, Carta provides a never-before-seen glimpse at how VC and PE investors manage and operate their funds.

In recent years, the secondary market has become the primary place where many startups and their investors are able to fill the void created by an extended quiet period in the IPO market.

Engineers of all kinds command some of the highest salaries of any startup employees. But the meteoric ascent of AI tools and technology has pushed salaries even higher.

The industry continued to grow, marked by key trends: Early-stage valuations keep rising, down rounds are growing less frequent, and the Bay Area still reigns supreme. See all the best data in our latest report.