Raise amount vs. valuation cap: What the data tells us | Mendel Chuang (GP at Acquired Wisdom Fund)

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