If you missed SEED CRUST: State of the Seed Venture Market event last week, you can download the report and watch the recording. Here's what I expect to see in the coming year as it relates to Seed *phase* venture capital: 🐖 The "pig in the pipe" (the exit backlog) will clear this year, which is great for late stage, but it won't be felt at Seed until next year. 🔁 Which means more of the same this year for Seed: more shut downs 😢, more extension rounds 🌉, more pressure on founders to stretch their existing capital 💸. It also means the bifurcation at Seed will continue through this year. 💫 3-Round Seed is the new normal. Pre-Seed, Seed, Seed 2, call it what you will, Series A isn't coming back down to $20-30m valuations. Mind your dilution to make that work. 📈 Seed 2 valuations will continue to go up over the next year, covering territory in the $20-30m post range that used to be a small Series A. 📉 But there will be less capital available in the Seed phase than in the last three years, and less of that will be deployed into first checks. How did we end up here? Here's the full story: https://lnkd.in/gwuGVSii What do you think? What would you add to this? Check out the recording to hear the full presentation and get Peter Walker's take on it, too. (Thanks for coming Peter!) #venturecapital #vc #fundraising #seed #startups
Super insightful webinar. When's they next? 😆
I love when you put these reports out. Thanks for sharing!
Had a blast (even with a crusty topic)!
This was a fantastic event!!!
Excited for the next wave in Seed phase. 🚀 Amazing trends ahead, agree? What's your insight? Rich Maloy
Partner at FirstMile Ventures
7moGreat summary, Rich, these are the biggest questions facing seed companies and their investors. Curious if you guys covered the expectations for founder/team ownership at Series A? If 3-rounds of seed is new normal, will Series A investors accept the dilution that came with that, or will every A have some degree of recap?