Q2 2023
August 9, 2023
In Q2, US VC valuations were considerably below the peaks of 2021 and early 2022. But there are signs that prices may be stabilizing. The median valuations for all stages, except for seed, registered an uptick from the previous quarter.
Although prices are no longer in a free-fall, the VC valuation glass may still be less than half full amid the near-frozen IPO market, reduced risk appetite from VCs, and a continued pullback from nontraditional investors. Other key takeaways from the Q2 2023 US VC Valuations Report, sponsored by Morgan Stanley at Work, include:
Key takeaways | 4 |
Angel and seed valuations | 5 |
Early-stage VC valuations | 7 |
Late-stage VC valuations | 9 |
Venture-growth valuations | 11 |
A word from Morgan Stanley at Work | 13 |
Fintech | 15 |
Carbon & emissions tech | 17 |
Nontraditional investors | 19 |
Liquidity | 21 |
Deal terms | 23 |