Initial data from Q2 2024 shows modest increases in median valuation and round size across much of the U.S. venture ecosystem.

The venture capital fundraising market remained slow in Q1 2024, but valuations held steady or climbed at almost every stage.

Fundraising for pre-seed companies stayed robust in Q1 2024, dominated by SAFEs and convertible notes; valuation caps remained flat.

Valuations and round sizes rose at most stages in Q1 2024.

Headcount contracted across the startup ecosystem as companies continue to adjust compensation strategies in response to economic headwinds.

While volatility diminished in 2023, fundraising activity in the startup ecosystem remained near recent lows in Q4 2023.