None
EN
Megadeals took 87.5% of US venture dollars, and the rest of the market is priced by vintage
['Cristian Dina', 'Story By']
The Next Web
AI companies posted a median valuation step-up of 2.2x this year against 1.6x for non-AI.
Median AI pre-money valuation at Series D and later now sits at $3.95bn.
For 2025 the median discount is 4.7%.
PitchBook puts the secondary discount band for 2021 and 2022 vintages at 54% to 59%.
Median Series A pre-money valuation hit $64m in the second quarter, more than triple the $21m of 2020.