I have been Thinking a lot about silos, or lack thereof, within Startupland. Sometimes there is an artificial wall that is placed between companies at different stages of development when, in reality, everyone is in the same room, spectating and tripping over the same rug.
Let me be more precise. As the late-stage market for tech companies has cooled, many early-stage investors say their portfolio companies aren’t much affected because they are years away from exiting and have enough capital to weather the uncertainty. The same energy was on display at the TechCrunch Early Stage this week. Stellation Capital’s Peter Boyce II told me that, based on the term sheet he wrote yesterday, we’re still definitely in a founder-friendly market, while a pair of entrepreneurs so subtly reminded me that Experimental Bets Still landing in important funding rounds. ,
I believe in optimism and think of this time as an improvement in early stage startups, not a calculation. But, new PitchBook and NVCA data shows dollars are changing across the board.
The latest report said venture-backed companies attracted nearly $71 billion during Q1, which is behind the pace every quarter in 2021, but still ahead of pre-pandemic totals. Digging more deeply into the seed stage, the research team reports that seed deal sizes are starting to look more toward historical norms than outward absurdity (okay, okay I made up that last part). . At the same time, valuations continue to rise, with a pre-money valuation of $12 million. A fun dichotomy investors have to pay a lot of money for.