The median seed valuation climbed to $14.8 million and the median Series A valuation rose to $45 million in Q3, as investors became more proactive after several quarters of patience.

In the aftermath of the remarkable pandemic bull run of 2021 and early 2022, the venture market has settled into a new normal. The third quarter showed upward trends at the later stages in deal activity and M&As.

Distributions are a critical metric by which LPs measure the fund performance of VC funds. In recent years, however, they’re getting harder to find.

See the latest pre-seed data on deal sizes, management fees, valuation caps, a breakdown of SAFEs compared to convertible notes, and a map of the states where the most pre-seed activity takes place.

The number of new SPVs exploded during the venture capital boom of 2021. While they have slowed down since then, it's clear the long-term trend is pointing upward.

Distributions to paid-in capital, which measures how much capital a fund has returned from exiting its investments, is a key metric for limited partners.