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Returns Since Last Private Round (as of December 31, 2025)

Meritech CapitalJanuary 2026
Returns Since Last Private Round (as of December 31, 2025)
Chart by Meritech Capital. Source: meritech.substack.com

The chart illustrates company returns since their last private round as of December 31, 2025. Neptune achieved the highest return at 326%, while Chime saw the steepest decline at (64%), with a overall median return of 6%.

LabelValue shown on the chart
Neptune326%
Circle216%
Omada Health163%
Figure Technology131%
Klarna61%
Wealthfront16%
Ambiq Micro13%
Bullish(2%)
Pattern Group(32%)
Via(36%)
MNTN(48%)
Chime(64%)

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View the original on meritech.substack.com

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