PreSeed VC

I consult with a lot of early-stage SaaS startups. Many are trying to raise a PreSeed round of VC funding, and most are struggling. VC fundraising has declined by over 50% since the heydays of 2021, and while preseed and seed stage deals have been hit just as hard as Series A, B, C & D. Some recent data from CBInsights, Pitchbook, and DocSend provide great qualitative and quantitative insights into what has changed in 2023.

Some Recent Data

There have been a few good recent reports that talk about the state of preseed and seed funding:

As CBInsights pointed out, the number and value of VC deals in 2023 has fallen by half in comparison to 2022:

 State of Venture Q3’23 Report

 State of Venture Q3’23 Report

 State of Venture Q3’23 Report

As Pitchbook pointed out, preseed deals and values have taken a major hit, but pre-money valuations have not been affected as much:

PitchBook Analyst Note: Introducing the Pre-Seed Dataset

PitchBook Analyst Note: Introducing the Pre-Seed Dataset 

Qualitative Insights Into VC Reactions to 2023 PreSeed Decks

DocSend is a great tool for sharing VC decks that provides significant analytical insights into how VCs interact with pitch decks. Their recent report provides some great insights.

Research Approach

The pre-seed round in 2022-23: From FOMO to JOMO: VCs shift from rapid growth to long-term risk aversion

Key Findings

The pre-seed round in 2022-23: From FOMO to JOMO: VCs shift from rapid growth to long-term risk aversion

VC Activity Down, Founders More Active

The pre-seed round in 2022-23: From FOMO to JOMO: VCs shift from rapid growth to long-term risk aversion

VC Scrutiny Has Changed in 2023

The pre-seed round in 2022-23: From FOMO to JOMO: VCs shift from rapid growth to long-term risk aversion

The pre-seed round in 2022-23: From FOMO to JOMO: VCs shift from rapid growth to long-term risk aversion

# of VCs Contacted

The pre-seed round in 2022-23: From FOMO to JOMO: VCs shift from rapid growth to long-term risk aversion

Time to do a raise

The pre-seed round in 2022-23: From FOMO to JOMO: VCs shift from rapid growth to long-term risk aversion

Key Stats

The pre-seed round in 2022-23: From FOMO to JOMO: VCs shift from rapid growth to long-term risk aversion

Deck Contents

The pre-seed round in 2022-23: From FOMO to JOMO: VCs shift from rapid growth to long-term risk aversion


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By John Mecke

John is a 25 year veteran of the enterprise technology market. He has led six global product management organizations for three public companies and three private equity-backed firms. He played a key role in delivering a $115 million dividend for his private equity backers – a 2.8x return in less than three years. He has led five acquisitions for a total consideration of over $175 million. He has led eight divestitures for a total consideration of $24.5 million in cash. John regularly blogs about product management and mergers/acquisitions.