Author's Profile

Kaidi Gao

Senior Research Analyst, Venture Capital

Kaidi Gao is a senior venture capital research analyst at PitchBook, where she contributes to the VC team’s core reports and produces quarterly thematic analyst notes on various topics. Her research and expertise focus primarily on venture debt, VC in the APAC region and seed- and early-stage dealmaking. Prior to this role, Gao worked as a Senior Data Operations Associate, overseeing PitchBook’s VC-backed company dataset.

Gao received a master’s degree in Near Eastern Studies from Princeton University and a bachelor’s degree in Asian and Middle Eastern Studies with a focus on Arabic from Duke University. She is based in PitchBook’s Seattle office.

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Articles by Kaidi Gao

US VC Fundraising and Returns Report

The Q3 2026 US VC Fundraising and Returns Report covers US VC fundraising activity and the latest data on fund performance and liquidity.
November 4, 2026

PitchBook-NVCA Venture Monitor

The Q3 2026 PitchBook-NVCA Venture Monitor presents a data-driven overview of the key trends defining the US venture capital landscape.
October 7, 2026

Multistage Funds in Early-Stage VC: Bigger Checks, Fewer Winners

In 2026 YTD, $86 billion has been deployed across 4,864 early-stage VC deals. Multistage fund participation at Series A hit record highs by count and value, reshaping who gets funded in this barbell market.
September 11, 2026

Global Private Market Fundraising Report

The Q2 2026 Global Private Market Fundraising Report offers a definitive review of the private market fund landscape with fundraising, cash flow, dry powder, and AUM data across geographies and seven strategies, including private equity and venture capital.
September 3, 2026

Stripe’s $8 Billion OpenRouter Deal: M&A Beats IPOs for AI Exits

This analyst note examines why M&A, rather than IPOs, is emerging as the primary exit path for AI startups and what this shift means for acquirer dynamics, VC fund returns, and capital concentration.
August 31, 2026

US VC Fundraising and Returns Report

The Q2 2026 US VC Fundraising and Returns Report covers US VC fundraising activity and the latest data on fund performance and liquidity.
August 4, 2026

PitchBook-NVCA Venture Monitor

The Q2 2026 PitchBook-NVCA Venture Monitor presents a data-driven overview of the key trends defining the US venture capital landscape.
July 8, 2026

US Venture Capital Outlook: Midyear Update

This analyst note updates the predictions made in our 2026 US Venture Capital Outlook and analyzes how these forecast trends within deals, exits, and fundraising will play out during H2.
June 22, 2026

Building, Backing, and Buying AI

This analyst note examines how Big Tech’s AI spending is shifting toward infrastructure and strategic partnerships over acquisitions, and what this means for AI companies evaluating exit options.
June 4, 2026