Fenwick: Down Rounds Aren’t Really Happening Much. But Later Stage Prices Have Fallen Quite a Bit.
SaaStr
AUGUST 26, 2022
So they remain uncommon, even as some startups are under runway stress, etc. #2. Fenwick’s data on valuation increases going all the way back to 2005 illustrates that: #4. Just 5% of the deals Fenwick closed were down rounds. While twitter talks a lot about downrounds, in reality, VCs don’t really want to do them.
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