Why Seed Rounds Are Growing as Startups Shrink
Tomasz Tunguz
JULY 27, 2025
A decade ago, these smaller rounds formed the backbone of startup financing, comprising over 70% of all seed deals. percentage point drop fundamentally reshaped how startups raise their first institutional capital. US venture capital fundraising nearly doubled from $42.3B The numbers tell a stark story. in 2015 to 37.5%
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