This is going to be BIG.

MARCH 23, 2015

So whereas seed rounds five years ago may have been less than a million dollars on a pre-money valuation of three or four million, today''s seed is up and over a million and usually closer to two million, with post money valuations nearing $10 million. in seed money instead of $1.5M

Post-Money Valuation 60

Post-Money Valuation Valuation Pre-Money Valuation Seed Money 60

Feld Thoughts

JULY 14, 2015

A company raises $1m of seed money from angels in a convertible note with a $6m cap. Assuming equity is raised at or above that cap, the total dilution, before the new money, is 16.6% (equivalent to an equity financing of $1m at a $6m post money valuation. Here’s the scenario.

Recapitalization 70

Recapitalization Pre-Money Valuation Post-Money Valuation Angel Investor 70

This is going to be BIG.

SEPTEMBER 7, 2012

If you're doing seed deals, how often does a down round in a seed deal even happen? If you're investing at pre-money valuations in the low to mid single digits, then how much worse can the next round even get? But that's when you've actually proven this thing is a viable company and there's work worth protecting.

Later Stage 99

Later Stage Down Round Pre-Money Valuation Early Stage 99