Every quarter, Carta releases information on the startup ecosystem in their State of Private Markets report.
Carta‘s “first cut” of data as close to the end of the quarter as possible has been shred. This initial analysis focuses “on round valuations and cash raised across the venture stages.”
Here’s a preliminary look at Q4 data for U.S. startups, shared by Carta:
- Valuations saw slight increases: Median pre-money valuations increased across all venture capital stages save for Series C in Q4. The change was most apparent in Series A, which rose from $29 million to $45 million in median pre-money valuation.
- Round sizes fell gently: Median round sizes were flat or slightly down for much of venture capital in Q4. The lone bright spot was in Series D, which saw round size increase, albeit on a small number of deals.
Although the final numbers on total rounds and capital raised are not yet available for Q4, it is reasonable to ‘expect another middling quarter across U.S. venture capital as a whole.”
Carta also said that it will release the full set of quarterly data in the coming weeks.
To see the valuations and round size data below split into primary and bridge round figures, you may download this addendum now.
As covered, Carta is a platform that “helps people manage equity, build businesses, and invest in the companies of tomorrow.”
Their mission is to “unlock the power of equity ownership for more people in more places. Carta manages over two trillion dollars in equity for nearly two million people globally.”
The company claims that it is “trusted by more than 30,000 companies, over 5,000 investment funds, and half a million employees for cap table management, compensation management, liquidity venture capital solutions, and more.”
As reported by Carta, effective January 1, 2024, virtually all new companies being incorporated in the United States will need to “comply with the Corporate Transparency Act (CTA).”
As explained in a blog post by Carta, this new law will “require them to submit an initial filing regarding the company’s beneficial ownership within 90 days of incorporation, and make mandatory updates as the company’s ownership and governance structures evolve.”
