Growth rounds now seen as more rational than seed rounds, Turner Novak notes

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Funding round dynamics reversed since 2021

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Daria Chernytska

2 hours ago

Growth rounds now seen as more rational than seed rounds, Turner Novak notes — Funding round dynamics reversed since 2021

Turner Novak described a shift in market sentiment regarding funding rounds compared to 2021. According to Novak, seed rounds were previously considered rational while growth rounds and public markets were viewed as irrational. He now sees that dynamic as inverted.

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Novak previously highlighted that mega funds have raised single rounds larger than all first-time fundraising combined. He has also noted that VCs showed interest in joining Instinct at a $50 billion valuation after missing early rounds. These observations provide additional context to his latest comments on shifting market sentiment.

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