Display tape: 12 deals, $416M disclosed, all dated Sep 23–24. Largest: Rightway's $155M Series E led by Francisco Partners; BigHat Biosciences' $75M Series C (DFJ Growth lead, Premji Invest co-lead); Anaconda Biomed's unlabeled $56M growth financing (Omega Funds). Seven deals $20M or under, including Ando's $20M combined pre-seed/seed (Index lead), ByteAsk's $1M pre-seed and Kontext's $4M seed (42CAP). Weekly book-wide: 37 rounds, 36 disclosed, $1.77B — down 74.3% from the prior week's $6.87B across 31 rounds, a reminder that single mega-deals dominate weekly totals. Snapshot shows zero rounds logged for the current day; coverage gaps remain (1 round missing amount, 31 missing valuations).
Last 24h: a16z launched Cosign, a curated professional network for the startup community (Dealroom). India committed Rs 200 crore of government support for Agnikul's Agnibaan reusable launch vehicle. Japan's Defense Ministry will launch a new system for incorporating startup tech. Precision Neuroscience raised a $250M Series D (per syndicated coverage — treat source quality as thin). Cyera's $400M raise from Goldman Sachs appears in a Business Journals NYC roundup; outside our tracked tape. Rainmaker raised $100M per dot.LA. A 36kr report describes a Chinese startup that raised RMB 300M and then declared bankruptcy — useful downside counterweight to funding-cycle coverage.
Sector mix on tracked rounds: AI led with 11 rounds/$667M, down 35.9% week-over-week from 13 rounds/$1.04B. Healthcare rose to $231M (+131%) on 3 rounds. New activity appeared in Drug Discovery ($215M, 2 rounds), Space/Defense ($200M), Climate ($100M), Automotive ($85M) and Defense ($51.1M) — all vs zero prior-week rounds, so percentage comparisons are meaningless there. Fintech up 17.1% to $94.8M. Context: Goldman Sachs reportedly projects $1.2T of hyperscaler AI spend in 2027; a syndicated piece cites record $23B space-economy investment (recent context, not last 24h). Totals cover tracked companies only.
| Window | Rounds | Disclosed Amounts | Disclosed Capital |
|---|---|---|---|
| Last 24 hours | 0 | 0 | — |
| Last 7 days | 37 | 36 | $1.8B |
| Previous 7 days | 31 | 30 | $6.9B |
Week-over-week disclosed capital: -74.3%. 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 |
|---|---|---|---|---|
| AI | 11 | 13 | $667M | -35.9% |
| Healthcare | 3 | 1 | $231M | +131.0% |
| Drug Discovery | 2 | 0 | $215M | Not comparable |
| Space / Defense | 1 | 0 | $200M | Not comparable |
| Climate | 1 | 0 | $100M | Not comparable |
| Fintech | 4 | 3 | $95M | +17.1% |
| Automotive | 1 | 0 | $85M | Not comparable |
| Defense | 2 | 0 | $51M | Not comparable |
Fresh reported post-money marks: Rightway $1.75B (Series E, +59.1% vs its March 2021 $1.1B — note the tape feed shows $1.8B; we defer to the valuations table's stated basis). Brahma AI at $2.0B post (+39.9% vs Feb 2025's $1.43B). First-time marks: Basecamp Research $800M (Series C), Hubble Network $1.6B (Series C), Verda $1.0B (Series B, Emergence Capital lead), Pilgrim $150M (seed). Markdown watch: Linktree (86/100) and Replit (86/100) flagged high versus public comps, Xendit at 80; only 125 of 2,558 tracked companies scored. Recent cuts: Found -70%, Etched -51.5%, Anchorage Digital -28.6%. Valuation changes are marks, not realized returns.
| Company / Round Date | Reported Post-Money | Prior Post-Money / Date | Mark Change | Evidence |
|---|---|---|---|---|
| Rightway 2026-09-24 | $1.8B | $1.1B 2021-03-30 | +59.1% | Tracked roster; source link unavailable |
| Basecamp Research 2026-09-23 | $800M | Unavailable | Not comparable | Tracked roster; source link unavailable |
| Brahma AI 2026-09-23 | $2.0B | $1.4B 2025-02-18 | +39.9% | Tracked roster; source link unavailable |
| Hubble Network 2026-09-23 | $1.6B | Unavailable | Not comparable | Tracked roster; source link unavailable |
| Pilgrim 2026-09-23 | $150M | Unavailable | Not comparable | Tracked roster; source link unavailable |
| Verda 2026-09-22 | $1.0B | 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.
Display tape: 12 deals, $416M disclosed, all dated Sep 23–24. Largest: Rightway's $155M Series E led by Francisco Partners; BigHat Biosciences' $75M Series C (DFJ Growth lead, Premji Invest co-lead); Anaconda Biomed's unlabeled $56M growth financing (Omega Funds). Seven deals $20M or under, including Ando's $20M combined pre-seed/seed (Index lead), ByteAsk's $1M pre-seed and Kontext's $4M seed (42CAP). Weekly book-wide: 37 rounds, 36 disclosed, $1.77B — down 74.3% from the prior week's $6.87B across 31 rounds, a reminder that single mega-deals dominate weekly totals. Snapshot shows zero rounds logged for the current day; coverage gaps remain (1 round missing amount, 31 missing valuations).
| Date | Company | Round | Amount | Reported Post-Money | Lead | Sector |
|---|---|---|---|---|---|---|
| 2026-09-24 | Ando | Pre-seed + Seed (combined) | $20M | — | Index Ventures; Emergence Capital (seed); Accel (pre-seed) | Business/Productivity Software |
| 2026-09-24 | Basalt Health | Series A | $20M | — | NEA | Healthcare |
| 2026-09-24 | BigHat Biosciences | Series C | $75M | — | DFJ Growth; Premji Invest (co-leads) | Drug Discovery |
| 2026-09-24 | ByteAsk | Pre-seed | $1M | — | Y Combinator; Entrepreneur First | Software Development Applications |
| 2026-09-24 | Dextr AI | Seed | $7M | — | Elevation Capital | AI |
| 2026-09-24 | HIFI | Series A | $37M | — | Left Lane Capital | Fintech |
| 2026-09-24 | iPiD | Series A | $16M | — | Foundation Capital | Fintech |
| 2026-09-24 | Kontext | Seed (unlabeled) | $4M | — | 42CAP | Cybersecurity |
| 2026-09-24 | Prime Minute | Pre-seed | $15M | — | Eclipse | Technology |
| 2026-09-24 | Rightway | Series E | $155M | $1.8B | Francisco Partners | Healthcare |
| 2026-09-24 | Rivet | Seed | $11M | — | — | Consumer |
| 2026-09-23 | Anaconda Biomed | Growth financing (unlabeled) | $56M | — | Omega Funds | Healthcare |
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.
Leads on the displayed tape skew toward specialist and growth firms: Francisco Partners ($155M round), DFJ Growth/Premji Invest ($75M), Omega Funds ($56M), Left Lane ($37M). Fund formation news: Zero Infinity Partners raised $156M for 'infratech' (WSJ, last 24h); India's Centre Court Capital closed its maiden fund at ₹410 crore; IIT Madras announced initial funding from a deep-tech VC fund. AlleyWatch and FinTech Global roundups corroborate deal cadence, with two $400M fintech rounds driving that weekly tally — those sit outside our tracked tape, so treat as market context, not book marks.
| Lead Investor | Displayed Deals | Associated Round Sizes |
|---|---|---|
| Francisco Partners | 1 | $155M |
| DFJ Growth; Premji Invest (co-leads) | 1 | $75M |
| Omega Funds | 1 | $56M |
| Left Lane Capital | 1 | $37M |
| Index Ventures; Emergence Capital (seed); Accel (pre-seed) | 1 | $20M |
| NEA | 1 | $20M |
| Foundation Capital | 1 | $16M |
| Eclipse | 1 | $15M |
Total sizes of associated rounds, not the lead investor's check sizes. Investor types are not inferred from their names.
Deal flow: Cendyn acquired Knowland and brought in Haveli Investments as a PE partner; Tekmetric announced a growth investment from Susquehanna Growth Equity; CDW completed its acquisition of Lovelytics. Larger themes remain exploratory: Axios reports Apollo is eyeing a Yankees stake and that Six Flags has been pushed to look at a sale — neither is a signed transaction. Capgemini's Seattle-area acquisition adds strategic-buyer competition for mid-market software assets. Morgan Stanley published a pro-PE allocation argument — opinion content, not evidence of flows. Joe Baratta's reported departure from Blackstone is executive news, not deal flow.
Fund-level signals: The Information reports New Mexico's oil windfall has become a $2B VC bet — a sovereign-style state vehicle entering venture. India is planning a ₹20,000 crore frontier-AI fund aimed at sovereign AI and compute (ET Government, last 24h — a plan, not a closed vehicle). Zero Infinity Partners closed $156M for infratech per WSJ. IIT Madras and Unicorn India marked a ₹450 crore first close of a ₹1,000 cr fund. Centre Court Capital closed its maiden fund at ₹410 crore. UN pension fund strengthened Global Compact exclusions (Responsible Investor). Saba Capital Income & Opportunities trading at a 16% NAV discount is listed-fund commentary — peripheral to private funds.
Databricks acquired Row Zero (spreadsheet governance/AI) per TechTarget and American Bazaar — reported as completed in coverage. NetApp plans to acquire PEAK:AIO (AI infrastructure) — framed as a plan, not a close. Capgemini expanded its Seattle footprint via acquisition. CDW completed its Lovelytics acquisition. Cendyn acquired Knowland and named Haveli Investments as PE partner. Note: Blackstone and Halliburton's reported $1B VoltaGrid investment is a minority/growth investment per the source, not an acquisition — do not book it as M&A.
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 |
|---|---|---|
| HIFI | 46 → 69 | +23 |
| Firecrawl | 62 → 70 | +8 |
| Tempo | 43 → 46 | +3 |
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: 2026-09-26 · sources: private-companies.json, investors.json
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Weekend date — digest payload is available but weekday delivery is Mon–Fri only.
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 is currently defined by extreme capital concentration in AI-enabling infrastructure and enterprise security. While high valuations persist for 'category-defining' companies, there is notable uncertainty in the broader venture landscape, evidenced by ongoing tech layoffs at major firms like PayPal and Oracle as they pivot to fund AI-related debt and infrastructure growth.
🗂️ Dataset updated: no new closed rounds to add; list holds at 2,558.
100 tracked names flagged for markdown risk — 125 scored nightly, 2433 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 | +492% | $1.3B | 54 mo ago |
| 2 | Replit | Data / Infra | 86 | High | +179% | $9.0B | 41 mo ago |
| 3 | Xendit | Financial Services | 80 | High | +1856% | $2.7B | 53 mo ago |
| 4 | Forter | Fintech | 80 | High | +956% | $3.0B | 65 mo ago |
| 5 | Greenlight | Fintech | 80 | High | +607% | $2.3B | 66 mo ago |
| 6 | Betterment | Fintech | 80 | High | +429% | $1.1B | 42 mo ago |
| 7 | Cross River Bank | fintech | 80 | High | +213% | $3.0B | 54 mo ago |
| 8 | Pump | SaaS | 75 | High | +1581% | $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.
Francisco Partners led Rightway's $155M Series E at a reported $1.75B post-money, up 59.1% from its $1.1B mark set in March 2021 — the first repricing in over five years. That gap cuts both ways: it shows late-stage healthcare capital is available for scaled operators, but also how long some books waited between marks. Founders raising in healthcare navigation or benefits should note a PE-style buyer is now setting the clearing price.
BigHat Biosciences raised a $75M Series C led by DFJ Growth with Premji Invest co-leading; Anaconda Biomed took a $56M growth financing led by Omega Funds; and Basecamp Research's $140M Series C priced at an $800M post-money. Tracked drug-discovery capital hit $215M this week from zero the prior week. The caveat: three data points are not a trend, and unlabeled growth rounds often carry structure.
The markdown ledger shows 100 companies on watch, with recent cuts of -70% (Found), -51.5% (Etched) and -28.6% (Anchorage Digital). Meanwhile Linktree and Replit score 86/100 as marked high versus public comps, and Xendit at 80. Only 125 of 2,558 tracked companies are scored, so this is a sample, not a census. The practical takeaway: secondary pricing and next-round terms will not automatically follow your last primary mark.
The 74% weekly capital drop reflects timing and mega-round lumpy-ness, not a turn — round count actually rose (37 vs 31). Watch three things: whether AI's -35.9% weekly decline extends, whether the new Space/Defense and Drug Discovery activity repeats, and how the Rightway and Brahma AI marks hold against secondary pricing. Downside evidence is present and real: three fresh mark cuts and a bankruptcy case alongside the raises.