State of VC 2.0
View from Seed
SEPTEMBER 14, 2021
One thing that jumps out quickly is that TVPI between 2004-2010 (avg 2.6x) has underperformed 2011-2017 (avg 3.0x). For context, seed-stage pre-money valuations are up 24% from H1 2020 to H1 2021. The chart below illustrates this, with the black vertical line representing the average VC return. Source: Cambridge Associates.
Let's personalize your content