Down round

A financing round where a company raises capital at a lower pre-money valuation than its previous financing round.

Source: Venture Capital Report 2025 (Gunderson Dettmer) · p.9

Reports that mention Down round

The Entrepreneurs Report: Private Company Financing Trends, Full-Year 2025Wilson Sonsini Goodrich & Rosati
Venture Beacon, Q1 2026Fenwick
State of the Markets H2 2025b2venture

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