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Series D+ leading fluctuations in investor check sizes

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Median lead investor check sizes in Aumni-tracked venture deals across all stages have declined significantly since peaks in late 2021 and early 2022.

The shifts were most pronounced in Series D+, where lead investors were committing a median amount of $54.2M at the peak in 2021. Check sizes among tracked companies in this cohort shrunk by more than 67% from Q2 2021 to Q2 2023. Most stages of fundraising did see some improvement in the second half of 2023, though. Again, series D+ saw the most significant moves, with median lead commitments growing by more than 58% from Q2 to Q4 2023.

While check sizes remain below 2021 highs, the recent trend could indicate recovering sentiment in the market.

Want to explore more? This is one of dozens of charts and related insights in Aumni’s Venture Beacon Year End 2023 Report

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