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The Hardest Round to Raise in 2023

Tom Tunguz

Q1 volumes by year show broad declines across early-stage venture capital. Examining the ratios of rounds, we can assess where capital is flowing. Second, startups who raised Series As in the last 18 months raised the biggest Series As seen since 2000. The hardest round to raise so far in 2023 is the Series B.

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The Coming Wave of Venture Capital and What It Means for Your Startup

Tom Tunguz

This new money hasn’t yet hit the startup fundraising market in earnest, as the chart above shows. The second quarter of 2014 is the sixteenth largest by capital deployed sinced 1995, making it a top quartile quarter, but to break into the top five, that figure would need to triple.

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Has VC Become So Big It Must Be Disrupted?

Tom Tunguz

Nathan Heller published an article called Is Venture Capital Worth the Risk? It’s a well-researched critique of the venture industry. If you have ideas for how to improve venture capital for founders, please tweet me or send me an email with the link above. First, venture capital has become much bigger.

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How Similar is the Fundraising Environment Today to 2000?

Tom Tunguz

In Q2 2015, VC investment totaled $16.7B, about a 66% of the $28B deployed in Q2 2000 according to a new report. Amazingly, each of the last four quarters of venture investment from Q3 2014 to Q2 2015, are in the top 10 all-time for venture capital investment. And the trends shows no sign of stopping. exceeding the $13.1M

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The State of the Startup Fundraising Market in 2016

Tom Tunguz

For all the talk about late stage rounds, megarounds and unicorns, early stage startups are benefitting disproportionately from near-record years of venture capital investment. Of the $42B invested in startups in 2015, 34% or about $14B was raised in series A and seed rounds. That figure is up from 18% in 2005.

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The Impact of Interest Rates on Startup Fundraising

Tom Tunguz

throughout those cycles, venture capital has flourished from a cottage industry into $100B per year asset class. VCs are on track to invest as much capital this year as during the height of the dot com era. But, is there any observable relationship between the federal funds rate and the startup ecosystem?

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Access is the Scarcest Commodity in Startupland

Tom Tunguz

The SEC announced last week that it wants to find ways to let Main Street investors access stage private venture companies. Today in Startupland, startup access is the scarcest commodity. Public market access to startups. **In Today, capital is abundant, and concentrating ownership is a winning strategy.