TLDR Founders · HEADLINES & TRENDS

STATE OF PRIVATE MARKETS: Q1 2025

links.tldrnewsletter.com13 min read

Summary from the TLDR Founders newsletter

Venture investors are becoming more selective but paying higher prices, with median pre-money valuations rising at nearly every funding stage despite falling deal counts. Series D valuations soared 211% year-over-year, while dilution decreased across all stages, showing investors' growing willingness to compete for the best startups.