The displayed tape shows 12 tracked rounds across the past 7 days, $143B in disclosed capital. Front of the tape: Armada (Series B); Armadin (Series B, $256M, led by Andreessen Horowitz and Accel (co-leads)); Doxx.net (Series A, $38M, led by Andreessen Horowitz). AI absorbed the most displayed capital.
6 startup operating-news stories captured; funding, investor activity and valuations have separate desks below. Dated items distinguish the last 24 hours from recent context; undated sources are not treated as today's news.
The full tracked book records 18 rounds in the last 7 days versus 49 in the preceding 7 days. 16 rounds disclose an amount; 2 do not. These are tracked-book observations, not market-wide totals.
| Window | Rounds | Disclosed Amounts | Disclosed Capital |
|---|---|---|---|
| Last 24 hours | 0 | 0 | — |
| Last 7 days | 18 | 16 | $144B |
| Previous 7 days | 49 | 49 | $11B |
Week-over-week disclosed capital: +1212.7%. 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 | 6 | 16 | $142B | +1494.0% |
| Automotive | 1 | 1 | $1.1B | +1135.3% |
| Cybersecurity | 3 | 3 | $294M | -30.1% |
| Fintech | 1 | 5 | $110M | -5.0% |
| Semiconductors | 1 | 0 | $88M | Not comparable |
| Business/Productivity Software | 1 | 2 | $50M | +108.3% |
| Software Development Applications | 1 | 1 | $20M | +1900.0% |
| Enterprise Software | 1 | 1 | $15M | -72.7% |
1 recent reported post-money marks shown; 17 weekly rounds have no reported post-money valuation. Changes compare dated post-money marks, not investor returns or enterprise values.
| Company / Round Date | Reported Post-Money | Prior Post-Money / Date | Mark Change | Evidence |
|---|---|---|---|---|
| Flow Engineering 2026-09-30 | $750M | 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.
The displayed tape shows 12 tracked rounds across the past 7 days, $143B in disclosed capital. Front of the tape: Armada (Series B); Armadin (Series B, $256M, led by Andreessen Horowitz and Accel (co-leads)); Doxx.net (Series A, $38M, led by Andreessen Horowitz). AI absorbed the most displayed capital.
| Date | Company | Round | Amount | Reported Post-Money | Lead | Sector |
|---|---|---|---|---|---|---|
| 2026-10-01 | Armada | Series B | — | — | — | Defense |
| 2026-10-01 | Armadin | Series B | $256M | — | Andreessen Horowitz and Accel (co-leads) | Cybersecurity |
| 2026-10-01 | Doxx.net | Series A | $38M | — | Andreessen Horowitz | Cybersecurity |
| 2026-10-01 | enso | Series A | $15M | — | MoreTech Ventures | Enterprise Software |
| 2026-10-01 | Halluminate | Series A | $30M | — | Oak HC/FT | AI |
| 2026-10-01 | Jeeves | Series C-1 | $110M | — | CoinFund | Fintech |
| 2026-10-01 | OpenAI | Late-stage primary | $142B | — | Nvidia, SoftBank | AI |
| 2026-10-01 | Osavul | Series A | — | — | 33N Ventures | Cybersecurity |
| 2026-10-01 | Photon | Seed | $5M | — | Gradient and A* (co-leads) | AI |
| 2026-10-01 | Prime Intellect | Series A | $50M | — | Founders Fund | AI |
| 2026-10-01 | Satlyt | Seed | $8M | — | Non Sibi Ventures | Space |
| 2026-10-01 | Volantis | Series A | $88M | — | Lachy Groom / Abstract Ventures (co-led) | Semiconductors |
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.
Most active leads in the window: Nvidia, SoftBank (1 deal), Andreessen Horowitz and Accel (co-leads) (1 deal), CoinFund (1 deal).
| Lead Investor | Displayed Deals | Associated Round Sizes |
|---|---|---|
| Nvidia, SoftBank | 1 | $142B |
| Andreessen Horowitz and Accel (co-leads) | 1 | $256M |
| CoinFund | 1 | $110M |
| Lachy Groom / Abstract Ventures (co-led) | 1 | $88M |
| Founders Fund | 1 | $50M |
| Andreessen Horowitz | 1 | $38M |
| Oak HC/FT | 1 | $30M |
| MoreTech Ventures | 1 | $15M |
Total sizes of associated rounds, not the lead investor's check sizes. Investor types are not inferred from their names.
6 private-equity and growth-buyout stories captured. Announced transactions are not assumed closed; debt financing and enterprise value are not equity investment amounts.
6 investment-fund and capital-formation stories captured, covering institutional allocations, new vehicles and fund closes. Fund targets, commitments and assets under management are not investments into a startup.
6 acquisition headlines crossed the wire — sourced links below.
Funding headlines from outside the tracked book — sourced links, not QL data.
The largest recent private rounds ($100M+) across the tracked book — 2282 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 |
|---|---|---|
| SOURCE | 59 → 41 | -18 |
| Token Security | 58 → 47 | -11 |
| Exa | 67 → 62 | -5 |
| EliseAI | 57 → 62 | +5 |
| Paid | 53 → 49 | -4 |
| Vercel | 61 → 58 | -3 |
| Wonderful | 62 → 65 | +3 |
| Humanoid | 54 → 57 | +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: 2026-10-05 · 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 landscape is characterized by heavy concentration in AI-sector mega-deals (Anthropic, OpenAI, Hadrian, Listen Labs) and increasing uncertainty surrounding M&A paths vs. IPO liquidity. Financing dynamics are shifting toward creative structures, including GPU-backed loans and internal circular financing, reflecting a cooling but high-valuation environment where tech leaders struggle to bridge the gap between private valuations and public market reality.
🗂️ Dataset updated: no new closed rounds to add; list holds at 2,604.
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 | +736% | $1.3B | 54 mo ago |
| 2 | Replit | Data / Infra | 86 | High | +247% | $9.0B | 41 mo ago |
| 3 | Kajabi | SaaS | 83 | High | +140% | $2.0B | 65 mo ago |
| 4 | Xendit | Financial Services | 80 | High | +1829% | $2.7B | 53 mo ago |
| 5 | Forter | Fintech | 80 | High | +942% | $3.0B | 65 mo ago |
| 6 | Greenlight | Fintech | 80 | High | +598% | $2.3B | 66 mo ago |
| 7 | Betterment | Fintech | 80 | High | +422% | $1.1B | 42 mo ago |
| 8 | Cross River Bank | fintech | 80 | High | +209% | $3.0B | 54 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.
75 markdowns detected all-time · 16 flagged beforehand · 59 missed · hit rate 21.3%
| Company | Detected | Event | Mark | Called? |
|---|---|---|---|---|
| Unacademy | 2026-10-05 | Mark cut −5.5% | $218M → $206M | ✗ Missed |
| Abridge | 2026-10-05 | Mark cut −6.8% | $5.7B → $5.3B | ✓ Flagged #38 · Elevated |
| Kling AI | 2026-10-05 | Mark cut −10.0% | $20B → $18B | ✓ Flagged #16 · Elevated |
| Guild Education | 2026-10-05 | Mark cut −14.8% | $4.4B → $3.8B | ✗ Missed |
| Harness | 2026-10-05 | Mark cut −14.8% | $5.5B → $4.7B | ✓ Flagged #60 · Elevated |
| OfBusiness | 2026-10-05 | Mark cut −20.0% | $5.0B → $4.0B | ✗ Missed |
| o9 Solutions | 2026-10-05 | Mark cut −27.0% | $3.7B → $2.7B | ✗ Missed |
| Houzz | 2026-10-05 | Mark cut −54.3% | $4.0B → $1.8B | ✗ Missed |
Down-round & valuation headlines scraped at publication from Google News, Hacker News, CNBC, Yahoo Finance and the wider tech press.
OpenAI reported a Late-stage primary raising $142B in AI. Compare stage, date and financing terms before treating this as a comparable round; the amount raised is not the company valuation.
$142B of the window's disclosed capital landed in AI. Investor attention clusters — pitch where the momentum already is, or explain clearly why you sit outside it.
100 tracked names sit on Markdown Watch — Linktree tops the board at 86/100 (High risk). Secondary pricing leads primary pricing — stale marks eventually clear, in one direction or the other.
Tomorrow’s edition re-reads the tape at 6:30am PT. Rounds land unevenly — judge the week, not the day.