The State of U.S. Early-Stage Venture Capital & Startups: 2Q22

AngelList

Research

21 Pages

The authors review how early stage venture conditions shifted in 2Q22 as the broader market sold off. They argue the slowdown hit later stages first, while early stage median valuations stayed surprisingly steady for companies that could still raise. One tension worth watching is whether founder friendly pricing can persist if deal timelines keep lagging real time conditions.

Date published: July 19, 2022

Key Takeaways

Later stage cooling: Later rounds lost share while seed gained, suggesting investors are moving earlier.
SAFE usage surge: More rounds used SAFEs, reflecting speed, caution, and early stage deal preference.
Female funding gap: Capital to female founders fell even as deal participation held roughly steady.

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