Every quarter, Carta releases information on the startup ecosystem in their State of Private Markets report.
It can take a few weeks for rounds to be recorded on their platform, so they produce a full analysis after they get the final numbers. However, Carta publishes a “first cut” of data as close to the end of the quarter as possible. This initial report focuses “on round valuations and cash raised across the venture stages.”
Across all funding stages, Q2 valuations “came in above those of Q1,” Carta noted while adding that Series B and C in particular “saw substantial gains over recent lows in median pre-money valuations.”
Median round sizes reportedly “saw more muted increases across the venture ecosystem.”
Although the final numbers on total rounds and capital raised “are not yet available for Q2, they are almost certain to come in above Q1 on both counts.”
Carta added that they will publish their full set of quarterly data in the coming weeks.
For more details, click here.
As noted in another update from Carta, it is 2023, but “managing a fund can sometimes make you feel like you’re stuck in 1999.”
That’s why they launched Carta Carry: the first mobile app for running a venture fund. With the Carta Carry app, you can now “initiate fund administration tasks on the go—and track their progress to completion.”
Carta Carry will help you “save time, increase transparency with your fund administration team, and ensure accuracy across fund operations.”
With the Carta Carry task tracker, you can now “see real-time status updates on capital calls, wires, expenses, management fees, and financials.”
You’ll never “have to stress about not knowing the status of a wire, or need to email your fund administrator for an update on an urgent capital call.” For more details on this update, check here.
While sharing other key developments, Carta noted that “back in 2021, Los Angeles was the fastest-growing metro area in the U.S. for first-time venture capital funds.”
In fact, the number of first-time funds “formed in the LA metro more than doubled from 2020 to 2021.” This surge of new emerging managers “appeared poised to fuel an up-and-coming startup ecosystem.”
Since then, the venture sector entered a downturn. At the national level, funding “for VC-backed companies has fallen dramatically.”
As stated in a blog post, Los Angeles certainly hasn’t been immune to the contractions in venture funding.
But the City of Angels “has proven more resilient than other metros, with a less severe drop in startup fundraising since the 2021 peak relative to bigger tech hubs like New York and the Bay Area.” As of this writing, the venture ecosystem in LA is “still stronger than it was in 2019 and 2020.”
For more on this update, click here.