How much equity do founders sell investors in each venture round?

Published 12 October 2023

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New numbers from Carta on 2023 US rounds show how much equity startups sell to investors in the different rounds. Data shows that the rounds sell/dilute for:

  • Series seed: 20.5%
  • Series A: 19.5%
  • Series B: 17.2%
  • Series C: 12.6%
  • Series D: 10.3%

See the full overview here.