Tracked tape: 10 rounds in 7 days, $4.4B disclosed (9 with amounts) — up 17% in capital vs. prior week ($3.76B across 31 rounds) but deal count fell ~68%. One deal does the lifting: Crusoe Energy's $3.9B Series F is ~89% of the week's capital. Energy took $4.04B (2 rounds); AI fell to $35M from $2.03B across 13 rounds a week ago (-98.3%); fintech -59.1% to $35M. Today: zero tracked rounds logged so far. Coverage gaps: 1 missing amount, 9 missing valuations of 2,270 eligible rounds.
Last-24h funding news outside the tracked tape: enterprise-AI agent startup Ema raised $77M led by Creaegis (Moneycontrol, TechCrunch); India's Brahma AI raised $150M at a $2B valuation with $100M from Multiples (announced, reported valuations); Chinese launch startup Space Epoch raised $343M (SpaceNews); Go.AI raised $85M; Ultraviolette raised $85M targeting 2027 US entry; UltraSight raised $24M for cardiac AI in US hospitals; Nexstrom raised a $12M seed for 2D semiconductors.
Reported: space investment more than doubled to $23B in the year to June (BNN Bloomberg, citing a report) — directionally consistent with this week's energy/infrastructure-heavy tape. Also flagged: a $2.1T GCC investment push positioning the UAE in private capital, agri-food PE at ~$4B invested over five years in Italy, and Da Nang courting Silicon Valley for AI/semiconductor ambitions. Caveat: the tracked-book sector totals cover 10 disclosed rounds, not the whole market; the -98.3% AI drop partly reflects last week's large AI base.
| Window | Rounds | Disclosed Amounts | Disclosed Capital |
|---|---|---|---|
| Last 24 hours | 0 | 0 | — |
| Last 7 days | 10 | 9 | $4.4B |
| Previous 7 days | 31 | 30 | $3.8B |
Week-over-week disclosed capital: +17.0%. All eligible tracked rounds are included, independently of the 12-company display limit below. Missing amounts are excluded from capital totals, not estimated. Date-only records use midnight UTC; these are rolling windows, not calendar-day totals.
| Sector | 7d Rounds | Prior 7d Rounds | 7d Disclosed Capital | Capital Change |
|---|---|---|---|---|
| Energy | 2 | 0 | $4.0B | Not comparable |
| Climate | 1 | 0 | $100M | Not comparable |
| Robotics | 1 | 0 | $80M | Not comparable |
| Cybersecurity | 1 | 1 | $72M | +44.0% |
| Fintech | 1 | 4 | $35M | -59.1% |
| AI | 1 | 13 | $35M | -98.3% |
| Insurtech | 1 | 0 | $25M | Not comparable |
| Financial Software | 1 | 1 | $14M | -75.9% |
Only tracked valuation event: Crusoe Energy's Series F at a reported $30.9B post-money ($3.9B raise, 9/17) — a new mark with no prior reference in our ledger, so no change is computable. Untracked but reported: Brahma AI at $2B post; Forbes reports an AI data startup raising $100M+ at a $4B valuation. Counterpoint on secondaries: DataRobot private stock is up 953% in a year yet still 83% below its AI-boom valuation — recovery in marks is uneven, not uniform.
| Company / Round Date | Reported Post-Money | Prior Post-Money / Date | Mark Change | Evidence |
|---|---|---|---|---|
| Crusoe Energy Systems 2026-09-17 | $31B | Unavailable | Not comparable | Tracked roster; source link unavailable |
Historical round marks are not replaced with today's company valuation. Mark changes compare disclosed post-money levels, not investor returns; dilution and financing terms may differ. Secondary indications, fund marks and enterprise values in linked reporting are separate evidence, not interchangeable round valuations.
Disclosed round capital in the window. Undisclosed amounts count as zero.
Disclosed rounds in the window · every bar opens the company's live page.
Tracked tape: 10 rounds in 7 days, $4.4B disclosed (9 with amounts) — up 17% in capital vs. prior week ($3.76B across 31 rounds) but deal count fell ~68%. One deal does the lifting: Crusoe Energy's $3.9B Series F is ~89% of the week's capital. Energy took $4.04B (2 rounds); AI fell to $35M from $2.03B across 13 rounds a week ago (-98.3%); fintech -59.1% to $35M. Today: zero tracked rounds logged so far. Coverage gaps: 1 missing amount, 9 missing valuations of 2,270 eligible rounds.
| Date | Company | Round | Amount | Reported Post-Money | Lead | Sector |
|---|---|---|---|---|---|---|
| 2026-09-22 | Atum | Undisclosed (stealth emergence) | $14M | — | — | Financial Software |
| 2026-09-22 | Baselayer | Series A | $35M | — | M13 | Fintech |
| 2026-09-21 | Corridor | Seed | $25M | — | Bain Capital Ventures | Insurtech |
| 2026-09-21 | Feldera | Series A | — | — | Inovia Capital | Database Software |
| 2026-09-21 | Rainmaker | Series B | $100M | — | — | Climate |
| 2026-09-17 | Crusoe Energy Systems | Series F | $3.9B | $31B | Atreides Management, Mubadala Capital and Valor Equity Partners | Energy |
| 2026-09-17 | Mazama Energy | Series B | $135M | — | Centaurus Capital and Doerr Capital | Energy |
| 2026-09-17 | MIND | Series B | $72M | — | Crosspoint Capital Partners | Cybersecurity |
| 2026-09-17 | Raindrop | Series A | $35M | — | CRV | AI |
| 2026-09-17 | Watney Robotics | Series A | $80M | — | Valor Atreides AI Fund and Hummingbird Ventures | Robotics |
Where the window's activity sits on the funding ladder: deal count (solid) against disclosed capital (faded) per stage, with the companies behind each cluster. Stages come from the reported round labels; undisclosed amounts count as zero capital.
Mega-round board: OpenAI $122B, Waymo $16B, Scale AI $14B. On the displayed tape every listed lead has exactly one deal — Atreides/Mubadala/Valor top the board on Crusoe's $3.9B total round size, not individual check sizes. New closes: Firecrawl (web scraping) closed $75M. Fund formations in the last 24h: Breed VC closed a $15M early-stage crypto Fund II (solo GP Jed Breed), and Ibex closed an $87M Israel-focused secondary fund buying stakes in private companies.
| Lead Investor | Displayed Deals | Associated Round Sizes |
|---|---|---|
| Atreides Management, Mubadala Capital and Valor Equity Partners | 1 | $3.9B |
| Centaurus Capital and Doerr Capital | 1 | $135M |
| Valor Atreides AI Fund and Hummingbird Ventures | 1 | $80M |
| Crosspoint Capital Partners | 1 | $72M |
| M13 | 1 | $35M |
| CRV | 1 | $35M |
| Bain Capital Ventures | 1 | $25M |
| Inovia Capital | 1 | — |
Total sizes of associated rounds, not the lead investor's check sizes. Investor types are not inferred from their names.
Last-24h: Velentium Medical secured a growth investment from 1315 Capital (amount undisclosed); May River Capital sells environmental monitoring platform Dickson to Blackstone-backed Copeland; Sundance Growth doubled fund size with a $250M Fund II close 15 months after its debut; Korea's National Growth Fund is weighing joining Vessl AI's $150M Series C — reported, not closed; Denmark's PKA is pivoting its PE push toward Europe; Ibex raised $87M for an Israel-focused secondary fund.
NYC pensions are reportedly eyeing a $5B private-markets green allocation (Bloomberg) — under consideration, not committed. Kotak Alts' Yield & Growth Fund hit final close at $522M. A CFA Institute study finds private-market allocations in defined-contribution plans can improve modeled retirement outcomes — note this is modeled, not realized performance. The study also topped retirement-modeling tables per trade press. UAE flagged satellites as a strategic space asset (Fortune), consistent with the space-funding trend data.
Reported, not confirmed: Blackstone and Halliburton said to invest $1B in VoltaGrid (EnergyNow). Announced: Cognex to acquire RealSense for $500M as it shifts to physical AI; Mistral AI's acquisition of Pimento reported. Cross-border expansion via M&A: proptech Huspy enters Italy buying Integra Finance with an $86M investment plan; Hlpy pairs a €20M hybrid round with the acquisition of Carvoilà. On the PE side, May River Capital sold Dickson to Blackstone-backed Copeland.
Funding headlines from outside the tracked book — sourced links, not QL data.
The largest recent private rounds ($100M+) across the tracked book — 2181 ranked. Full board: quantlogix.ai/mega-rounds.
Biggest overnight changes in the graded company score — scores only move when disclosed data moves, and every repricing grades the score that was standing.
| Company | Score | Δ |
|---|---|---|
| Raindrop | 53 → 59 | +6 |
Display-only private-markets tape from the tracked roster — formations, priced fundraises, valuation marks, and U.S. VC lead activity. No inferred amounts; empty sections stay empty.
Window: 2026-09-23 · sources: private-companies.json, investors.json
| Name | Round / detail | Amount / mark | Date |
|---|---|---|---|
| Spot AI | formation | — | 2026-09-23 |
| Orange Health | formation | — | 2026-09-23 |
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The Silicon Valley Private Market Daily — the 8pm PT desk close: qualified raises, roster re-rates and sector velocity from the QL private-market pipeline.
The private market displays significant capital concentration in AI-related infrastructure and data security (Cyera, Snorkel AI). Valuation premiums remain visible in high-demand sectors like enterprise AI. There is notable uncertainty regarding utility and power capacity availability for scaling AI data centers, which remains a bottleneck for capital-intensive infrastructure projects.
🗂️ Dataset updated: no new closed rounds to add; list holds at 2,521.
100 tracked names flagged for markdown risk — 124 scored nightly, 2397 left unscored (no comp bridge). Down rounds are recorded in the open ledger — receipts only work in public. Live boards: markdown-watch · down-round-ledger.
| # | Company | Sector | Risk Score | Band | Vs Comps | Last Mark | Last Round |
|---|---|---|---|---|---|---|---|
| 1 | Linktree | SaaS | 86 | High | +494% | $1.3B | 54 mo ago |
| 2 | Replit | Data / Infra | 86 | High | +202% | $9.0B | 41 mo ago |
| 3 | Xendit | Financial Services | 80 | High | +1928% | $2.7B | 53 mo ago |
| 4 | Forter | Fintech | 80 | High | +995% | $3.0B | 64 mo ago |
| 5 | Greenlight | Fintech | 80 | High | +633% | $2.3B | 66 mo ago |
| 6 | Betterment | Fintech | 80 | High | +449% | $1.1B | 42 mo ago |
| 7 | Cross River Bank | fintech | 80 | High | +224% | $3.0B | 54 mo ago |
| 8 | Pump | SaaS | 75 | High | +1587% | $1.5B | 28 mo ago |
Nightly score: comp-bridge premium (45%) · round staleness (30%) · IPO-readiness drag (15%) · funding deceleration (10%). Companies without a computable public-comp bridge stay unscored — never guessed.
60 markdowns detected all-time · 11 flagged beforehand · 49 missed · hit rate 18.3%
| Company | Detected | Event | Mark | Called? |
|---|---|---|---|---|
| Anchorage Digital | 2026-09-21 | Mark cut −28.6% | $4.2B → $3.0B | ✗ Missed |
| Etched | 2026-09-21 | Mark cut −51.5% | $10B → $5.0B | ✗ Missed |
| Found | 2026-09-21 | Mark cut −70.0% | $2.0B → $600M | ✗ Missed |
| Public | 2026-09-21 | Mark cut −99.4% | $190B → $1.2B | ✗ Missed |
| Upgrade | 2026-09-14 | Mark cut −30.8% | $7.3B → $5.0B | ✓ Flagged #64 · Moderate |
| Applied Intuition | 2026-09-14 | Mark cut −60.0% | $15B → $6.0B | ✗ Missed |
| Axonius | 2026-09-14 | Mark cut −61.5% | $2.6B → $1.0B | ✗ Missed |
| Digital Currency Group | 2026-09-14 | Mark cut −80.0% | $10B → $2.0B | ✗ Missed |
Down-round & valuation headlines scraped at publication from Google News, Hacker News, CNBC, Yahoo Finance and the wider tech press.
Crusoe's $3.9B is ~89% of this week's $4.4B. Strip it out and the tracked week is 9 rounds, ~$546M — smaller than last week's $3.76B base. A single mega-round makes weekly capital growth (+17%) look healthier than deal activity, which fell ~68% by count. Read the volume signal, not the dollar headline, when planning your raise calendar.
Tracked AI rounds fell from 13 deals/$2.03B last week to 1 deal/$35M this week (-98.3%). That's partly base-effect noise, but it lands alongside markdown-watch names (Replit +202% vs. comps, Linktree +494%) and recent cuts at Etched (-51.5%) and Anchorage Digital (-28.6%). If you're AI-adjacent and pre-emption is your plan, assume diligence scrutiny is rising, not falling.
DataRobot's private stock is up 953% in a year and still 83% below its boom-era valuation. Meanwhile the ledger shows cuts as steep as Found at -70%. For founders: a prior high mark is not a floor, and a partial recovery is not a payday. Price your next round on current evidence — buyers at the next round collect the bill when valuation ran ahead of execution.
A thin, energy-weighted week: one mega-round masks a slowdown in round count, with AI down sharply on a tough base. Watch whether VoltaGrid's reported $1B from Blackstone/Halliburton confirms, EU/EIB's scale-up funding pact gains signatories, and whether today's zero-round start to the week is noise or the start of a quieter stretch.