Note that these numbers include illiquid (pre-exit) valuations.
2021 and early 2022 was a huge bull market — many private companies raised money in insane valuations that aren’t realistic today. Suppose they didn’t raise money again or go public in mid/late 2022. In that case, it’s likely that their valuations were last updated around the bull market’s peak, in which case they’re almost certainly systematically inflated.
2021 and early 2022 was a huge bull market — many private companies raised money in insane valuations that aren’t realistic today. Suppose they didn’t raise money again or go public in mid/late 2022. In that case, it’s likely that their valuations were last updated around the bull market’s peak, in which case they’re almost certainly systematically inflated.