Series D+ leading fluctuations in investor check sizes

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.

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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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^{Photo by Michiel Annaert on Unsplash}