We invest in foodtech and agtech startups. Most of them have seen spikes in demand, but operationally there are challenges and almost everyone has slowed their burn and cut staff because no matter how fantastic their numbers are they can’t rely on venture capital being there on the other side.
Companies that were looking at a a $10-$12m Series A are now dialing back to $2-3M seed II rounds with insiders. Companies that were looking at large $40m-$60m funding rounds, within 8 months of their last round have mostly stopped fundraising altogether.
Still it seems like the big firms are willing to do some seed deals to stay active without blowing out their fund.
Companies that were looking at a a $10-$12m Series A are now dialing back to $2-3M seed II rounds with insiders. Companies that were looking at large $40m-$60m funding rounds, within 8 months of their last round have mostly stopped fundraising altogether.
Still it seems like the big firms are willing to do some seed deals to stay active without blowing out their fund.
Tough times.