Here at Sydecar, we are passionate about unlocking valuable insights on venture capital through a data lens. In an attempt to better understand how the venture market has changed over the course of the last year, we analyzed data from across our suite of products to uncover patterns in fundraising activity. From average deal size to time to close to the prevalence of “bridge” rounds, we hope this report gives you some extra context on where the market is today.

What does the sample look like?

We analyzed data across 400 SPV deals raised on the Sydecar platform across 2022 and 2023. The majority of the deals were into Pre-Seed and Seed rounds, with a smaller proportion of Series A rounds. The deals spanned across industries, with notable representation in Financial Services, IT, Enterprise Software, E-commerce, and Healthcare.

Industry:

• IT & Enterprise Sofware: 8.5%

• Financial Services: 8%

• Healthcare: 5%

• E-Commerce: 3.5%

Funding Round:

• Pre-Seed: 40%

• Seed: 21%

• Series A: 12%

Deeper data points in the sample:

• Median Company Valuation in 2022

• Median Company Valuation in 2023

• Frequency of Bridge Rounds

• Average Valuation of Bridge Rounds 

• Predominance of Bridge Rounds by Industry

• Average Fundraising Timelines

Download the report for more insight on the current fundraising environment, including average valuations, fundraising timelines, and more!