Raise amount vs. valuation cap: What the data tells us | Mendel Chuang (GP at Acquired Wisdom Fund)
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In this episode of The Data Minute podcast, Peter Walker (Head of Insights at Carta) is joined by Mendel Chuang (GP at Acquired Wisdom Fund) for a wide-ranging discussion around two interesting trends in Carta’s data:
• How valuation caps have been changing over time since Q1 2022
• The percentage of seed rounds that are priced, by raise amount
Along the way, Peter and Mendel share insights and perspectives on countless issues in venture — from how often founders should update their investors, to what Mendel looks for in a company valuation-wise, the mentality of pre-seed VCs, and more.
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Chapters:
00:24 Intro
01:15 Mendel Chuang and Acquired Wisdom Fund
06:22 Differences between pre-seed and seed rounds
09:02 Chart: Median raise for a priced seed round
14:30 SAFEs, side letters, and investor updates
17:58 The importance of having a founder network
21:18 On founders and accelerators
23:22 SAFEs and convertible notes
27:26 Raising capital, AI, and being a leader in a space
29:40 Chart: How valuation caps have been trending lately
35:18 Advice for founders on the pre-seed VC market
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