Why Seed Rounds Are Growing as Startups Shrink
Tomasz Tunguz
JULY 27, 2025
in 2015 to 37.5% percentage point drop fundamentally reshaped how startups raise their first institutional capital. We can decompose the decline to understand what reduced the small seed round & why it matters for founders today. US venture capital fundraising nearly doubled from $42.3B in 2015 to $81.2B
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