Twelve disclosed deals totaling $8.6B. Strip out AMD's announced $8.2B acquisition of Fei-Fei Li's World Labs and the week's genuine funding tape is roughly $400M across 11 deals — thin. Largest venture round on tape: BigHat Biosciences' $75M Series C (DFJ Growth, Premji Invest co-lead). Astro Digital's $180M SPAC merger with Proem Asset Management is an announcement, not a close. Notable pre-seed/seed: Ando $20M (Index/Emergence/Accel, split by stage), Feather $8M (Gradient), Sanyark Space $2M. Mega-round board unchanged in shape: OpenAI $122B, Waymo $16B, Scale AI $14B. Most-active lead count is meaningless this week — every listed lead has one deal; AMD's $8.2B is an acquisition price, not a round size.
Company-level news from the last 24h: Ahmedabad spacetech startup SatLeo is launching a thermal-imaging payload on a SpaceX rocket. BC-based Bridge launched an app to digitize financial reconciliation. Vietnam's Dat Bike partnered with Toshiba on electric motorcycle components. Aspirity Partners made its Nordic debut with a €100M+ investment in IoT carrier Onomondo. IIT Bombay alumni launched Kokasa to build defense and aerospace systems. A Pittsburgh biotech and a Boston-area company formed a new joint startup. None of these are funding events; treat as operational signals only.
Tracked-book weekly trend (2,590 companies, disclosed rounds only): 19 rounds, $9.07B, vs. 40 rounds and $6.33B the prior week — dollars +43.4%, count down 52.5%. Sector split is distorted: AI's +1,053% to $8.23B is almost entirely the World Labs acquisition; ex-that, AI venture dollars contracted sharply from the prior week. Healthcare rose to $425M (+172%) on OpenEvidence's $250M reported round and Rightway's $155M Series E. Drug Discovery fell 46%, Fintech 15.7%. This covers tracked companies only, not the whole private market; 14 rounds this week lack valuation data.
| Window | Rounds | Disclosed Amounts | Disclosed Capital |
|---|---|---|---|
| Last 24 hours | 0 | 0 | — |
| Last 7 days | 19 | 19 | $9.1B |
| Previous 7 days | 40 | 39 | $6.3B |
Week-over-week disclosed capital: +43.4%. 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 | 3 | 14 | $8.2B | +1053.4% |
| Healthcare | 3 | 2 | $425M | +172.4% |
| Space / Defense | 1 | 1 | $180M | -10.0% |
| Drug Discovery | 1 | 1 | $75M | -46.4% |
| Fintech | 2 | 3 | $53M | -15.7% |
| Insurtech | 1 | 1 | $35M | +38.0% |
| Business/Productivity Software | 1 | 1 | $20M | +400.0% |
| Technology | 1 | 0 | $15M | Not comparable |
Reported post-money marks: OpenEvidence to $15.0B, +25% vs. its $12.0B mark from January 2026. Rightway at $1.75B is +59.1% — but against a $1.1B mark from March 2021, roughly 6% annualized over five-plus years, hardly a repricing. New small-cap marks: Sanyark Space at $7.5M reported post-money (tape shows an $8M figure — likely pre/post basis difference; verify before quoting either). Outside the ledger: General Intuition raised $220M at $6.2B; Efficient Computer at $650M; Skyroot Aerospace is targeting a $3B valuation in a $300M round — a target, not an agreed price. Anthropic pre-IPO perpetuals reached $643M in volume through Sept. 21.
| Company / Round Date | Reported Post-Money | Prior Post-Money / Date | Mark Change | Evidence |
|---|---|---|---|---|
| Sanyark Space 2026-09-26 | $8M | Unavailable | Not comparable | Tracked roster; source link unavailable |
| Arivihan 2026-09-25 | $60M | Unavailable | Not comparable | Tracked roster; source link unavailable |
| Outmarket 2026-09-25 | $335M | Unavailable | Not comparable | Tracked roster; source link unavailable |
| OpenEvidence 2026-09-24 | $15B | $12B 2026-01-21 | +25.0% | Tracked roster; source link unavailable |
| Rightway 2026-09-24 | $1.8B | $1.1B 2021-03-30 | +59.1% | 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.
Twelve disclosed deals totaling $8.6B. Strip out AMD's announced $8.2B acquisition of Fei-Fei Li's World Labs and the week's genuine funding tape is roughly $400M across 11 deals — thin. Largest venture round on tape: BigHat Biosciences' $75M Series C (DFJ Growth, Premji Invest co-lead). Astro Digital's $180M SPAC merger with Proem Asset Management is an announcement, not a close. Notable pre-seed/seed: Ando $20M (Index/Emergence/Accel, split by stage), Feather $8M (Gradient), Sanyark Space $2M. Mega-round board unchanged in shape: OpenAI $122B, Waymo $16B, Scale AI $14B. Most-active lead count is meaningless this week — every listed lead has one deal; AMD's $8.2B is an acquisition price, not a round size.
| Date | Company | Round | Amount | Reported Post-Money | Lead | Sector |
|---|---|---|---|---|---|---|
| 2026-09-28 | Astro Digital | SPAC merger + PIPE (announced) | $180M | — | Proem Asset Management | Space / Defense |
| 2026-09-28 | Modulate | Venture | $25M | — | Future Ventures | AI |
| 2026-09-28 | World Labs | Acquisition (announced) | $8.2B | — | AMD | AI |
| 2026-09-26 | Sanyark Space | Pre-Seed | $2M | $8M | Avaana Capital; AUM Ventures | Space |
| 2026-09-25 | Arivihan | Series A | $10M | $60M | Accel; Prosus | Education |
| 2026-09-25 | Outmarket | Series B | $35M | $335M | SignalFire | Insurtech |
| 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 | Feather | Pre-Seed | $8M | — | Gradient 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.
Deal volume halved week-over-week (40 to 19 tracked rounds) while dollars rose 43.4% — but the dollar gain is one acquisition, not broad funding. AI took $8.23B of $9.07B tracked capital, 91% of it the World Labs transaction; AI venture rounds alone (Modulate, Dextr AI) were modest. Fund formation stays active: Protego Ventures closed a $125M Fund I for early-growth defense; Peak XV raised its Surge seed cap to $5M across 18 new startups; KB Financial seeded a Korean impact fund-of-funds; South Australia's only VC firm raised a first fund. Coverage is thin on check sizes — lead totals shown are full round sizes, not individual checks.
| Lead Investor | Displayed Deals | Associated Round Sizes |
|---|---|---|
| AMD | 1 | $8.2B |
| Proem Asset Management | 1 | $180M |
| DFJ Growth; Premji Invest (co-leads) | 1 | $75M |
| SignalFire | 1 | $35M |
| Future Ventures | 1 | $25M |
| Index Ventures; Emergence Capital (seed); Accel (pre-seed) | 1 | $20M |
| NEA | 1 | $20M |
| Accel; Prosus | 1 | $10M |
Total sizes of associated rounds, not the lead investor's check sizes. Investor types are not inferred from their names.
Fund closes and buy-side moves dominate: Stride Consumer Partners closed its oversubscribed $550M Fund II (last 24h). The architect of IRIS Software's $4B recapitalisation launched an AI-first investment group with two acquisitions. Livingbridge-backed Elevare Software Group debuted with dual UK housing-tech acquisitions. Sun Capital CV acquired Anderson Global; a housing/healthcare AI platform raised $350M per Alternatives Watch. UK automotive software provider Pinewood's first-half profit rose on the Seez contribution — evidence bolt-on deals are feeding through P&Ls. Deal terms and targets aren't detailed in available evidence; treat specifics accordingly.
A $200M closed-end fund from Dan Ives targeting private AI companies launched — and its NYSE-listed vehicle, Ives Ultra AI Opportunities, IPO'd at $10/share per Unite.AI. Note a closed-end AI vehicle's listed price can trade off its NAV; watch the discount. Other closes (all last 24h): Protego Ventures $125M Fund I for early-growth defense; Rising Point $325M debut, past target, after shifting from an independent-sponsor model; Princeton Equity more than doubled its flagship to a $1.3B close in two months. Fund size ≠ deployed capital; none of these closes are startup investments yet.
AMD's $8.2B agreement to acquire World Labs (announced, not closed) is the week's defining transaction and the largest AI acquisition in the tracked book. Below it, a micro-M&A pattern: Bolt.new acquired AI-agent startup Dokai (its first deal); Clio bought a courts-focused company to deepen legal verticalization. Commentary attributes the small-deal spree to LLM commoditization — acquirers buying teams and distribution, not models. Also note: the architect of IRIS Software's $4B recapitalisation launched an AI-first investment group with two tech acquisitions, and Elevare debuted with dual UK housing-tech deals. World Labs remains subject to closing conditions until stated otherwise.
Funding headlines from outside the tracked book — sourced links, not QL data.
The largest recent private rounds ($100M+) across the tracked book — 2247 ranked. Full board: quantlogix.ai/mega-rounds.
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: 2026-09-30 · sources: private-companies.json, investors.json
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No in-tree private-market events matched the report window; amounts and valuations were not inferred.
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 concentration in AI-centric infrastructure and defense technology, evidenced by large raises (EliseAI, Reverion) and new specialized vehicles like Protego Ventures. Uncertainty persists regarding IPO timelines, notably for OpenAI and Oura, as the market balances massive valuation expectations against a slower exit environment.
🗂️ Dataset updated: added 1 company to the QuantLogix private-companies list — Reverion — 2,590 → 2,591. Append-only.
100 tracked names flagged for markdown risk — 125 scored nightly, 2465 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 | +515% | $1.3B | 54 mo ago |
| 2 | Replit | Data / Infra | 86 | High | +178% | $9.0B | 41 mo ago |
| 3 | Xendit | Financial Services | 80 | High | +1898% | $2.7B | 53 mo ago |
| 4 | Forter | Fintech | 80 | High | +979% | $3.0B | 65 mo ago |
| 5 | Greenlight | Fintech | 80 | High | +623% | $2.3B | 66 mo ago |
| 6 | Betterment | Fintech | 80 | High | +441% | $1.1B | 42 mo ago |
| 7 | Cross River Bank | fintech | 80 | High | +220% | $3.0B | 54 mo ago |
| 8 | Pump | SaaS | 76 | High | +1647% | $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.
63 markdowns detected all-time · 12 flagged beforehand · 51 missed · hit rate 19%
| Company | Detected | Event | Mark | Called? |
|---|---|---|---|---|
| Databricks | 2026-09-28 | Mark cut −29.5% | $190B → $134B | ✓ Flagged #92 · Moderate |
| Apex | 2026-09-28 | Mark cut −56.5% | $2.3B → $1.0B | ✗ Missed |
| Firework | 2026-09-28 | Mark cut −95.7% | $18B → $750M | ✗ Missed |
| 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 |
Down-round & valuation headlines scraped at publication from Google News, Hacker News, CNBC, Yahoo Finance and the wider tech press.
An $8.2B strategic acquisition of an embodied-AI lab — announced, not closed — plus founder-anxiety reporting around Fei-Fei Li's tenure move suggests consolidation risk is now top-of-funnel for AI infrastructure and physical-AI teams. Practical read: map strategic buyers (chips, cloud, defense) alongside financial sponsors, and assume LLM-commoditization logic is pushing acquirers toward teams and distribution rather than models.
Anthropic pre-IPO perpetuals reached $643M in volume through Sept. 21, with coverage explicitly flagging a liquidity test ahead. Founders should resist using token-market marks as round-pricing anchors — these instruments trade on sentiment and structural flows, not diligence, and the liquidity test will reveal whether there are real buyers underneath. If your employees or angels are being pitched tokenized exposure to late-stage AI names, treat those prices as indicative at best.
Groq raised $350M at a $3.5B valuation while pivoting from AI chipmaker to neocloud provider. The lesson isn't that pivots are rewarded; it's that AI-infrastructure capital will fund strategic repositioning at a discount to prior narrative peaks, and execution risk gets embedded in the price. Efficient Computer's $97M Series B at $650M shows hardware bets still clear.
October opens with concentration risk on full display: one $8.2B announced acquisition is doing nearly all the work in weekly capital figures while underlying deal count halves. Watch whether AMD–World Labs closes, whether Anthropic's tokenized liquidity test holds, and whether the markdown ledger's cuts spread to more AI names.