New data on Seed & Series A: how many deals are getting done & at what check size👇 Seed: ~90% of priced Seed rounds are < $20M, where dedicated-stage funds hold the advantage. >$20M: Though just a tiny fraction of the mkt, 70% of priced Seed rounds include mega-fund lead or co-lead.

ICYMI: @PitchBook’s latest secondary market report is out, showing record deal flow: $95B across direct secondaries & continuation funds. While a viable liquidity path for some, impt to note it’s still < IPO ($104.7B) & M&A ($107.1B) exits this year. Standout stats: ▸ $95B = just 2.2% of total unicorn valuations ▸ Directs up 31% QoQ ▸ Secondary market = heavily concentrated. Top 20 most actively traded startups account for 96% deal volume. Top 5 startups = 74% of value over 4 quarters Full report 👇

🪙🧑‍🏫 Wow. A masterclass on the future of global finance from a crypto savant who bet big on Solana and ironically… has zero interest in bitcoin. New Origins with @KyleSamani, MP at @multicoin👇