Improvements in valuations led by top-end
We noted in our recently published Aumni Venture Beacon: 1H 2024 Report that there has been a general improvement in valuations in the venture market over the last few months. Interestingly, a deeper look at the interquartile range of post-money valuations reveals that the market shift is occurring at the top quartile of the market.
Across financing stages, there is a clear divergent trend between top quartile valuations, which have seen significant momentum in the first half of the year, and the median and bottom quartiles, which remain relatively flat and unchanged. The headline data that valuations improved, therefore, does not paint the full picture, as the recovery in the first half of the year seems to be mostly driven by the top end of the market. The chart below, which looks at Series Seed, speaks to this trend.
The trend generally holds true across stages. To see how various quartiles are performing across Series A, B, C and D+, see our recent Aumni Venture Beacon: 1H 2024 Report, which covers these developments and much more.
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