A thin tracked tape: one disclosed round in the last 7 days — DeepSeek's $16B Series A, led by China's Big Fund (National Integrated Circuit Industry Investment Fund), Technology. A $16B round tagged 'Series A' is atypical; we report it as announced in the supplied data, not as verified structure. The prior week showed zero tracked disclosed rounds, so the week-over-week change is undefined rather than up or down. Do not read one week as a market trend: coverage covers 2,453 eligible tracked rounds, not the whole private market.
Corporate-startup tie-ups in the last 24h: Walmart is tapping startup General Medicine to expand Better Care Services. Dunamu & Partners, the only Korean firm, is investing in Starcloud, a $2.3B US space data-center startup. Downside datapoint: Nigerian BNPL startup Klump announced a shutdown, saying it declined an acquisition offer. Ladakh plans a Rs 100 crore startup policy targeting 1,000 startups. A Theranos whistleblower raised concerns about Elizabeth Holmes' partner's AI startup.
Tracked-book weekly trend: 1 round, $16B, all in Technology; previous week: 0 rounds, $0, so the percentage change is null — no trend is computable from a single-deal week. Coverage: 2,453 eligible rounds; 1 missing weekly valuation. One mega-round does not make a tape. Molten Ventures reported £109M of realisations and a NAV surge, a limited liquidity signal, not a market-wide one.
| Window | Rounds | Disclosed Amounts | Disclosed Capital |
|---|---|---|---|
| Last 24 hours | 0 | 0 | — |
| Last 7 days | 1 | 1 | $16B |
| Previous 7 days | 0 | 0 | — |
Week-over-week disclosed capital: Not comparable. 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 |
|---|---|---|---|---|
| Technology | 1 | 0 | $16B | Not comparable |
Markdown Watch top: Linktree (86/100, High, +690% vs public comps), Replit (86/100, High, +257%), Xendit (80/100, High, +1681%). High scores flag markdown risk versus public comparables. Recent mark cuts: Flock Safety -10.7%, Agility Robotics -26.5%, Kr Space -73.8%. 100 names on watch; only 126 of 2,699 tracked companies scored, so 2,573 remain unscored — read the board narrowly. Recent context: OpenAI reportedly cut $150B from its valuation target (Oct 23); Oravel is said to face a lower India IPO valuation.
No round-specific post-money valuations captured in the last seven days.
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.
A thin tracked tape: one disclosed round in the last 7 days — DeepSeek's $16B Series A, led by China's Big Fund (National Integrated Circuit Industry Investment Fund), Technology. A $16B round tagged 'Series A' is atypical; we report it as announced in the supplied data, not as verified structure. The prior week showed zero tracked disclosed rounds, so the week-over-week change is undefined rather than up or down. Do not read one week as a market trend: coverage covers 2,453 eligible tracked rounds, not the whole private market.
| Date | Company | Round | Amount | Reported Post-Money | Lead | Sector |
|---|---|---|---|---|---|---|
| 2026-10-23 | DeepSeek | Series A | $16B | — | China's Big Fund (National Integrated Circuit Industry Investment Fund) | Technology |
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.
Venture headlines in the last 24h: Legora, a European legal-AI startup, raised $550M at an $8.8B valuation per one report. A Canadian missile maker targeting low-cost counterdrone tech raised CAD 29M. Z_One Fund (Italy) closed a €35M first close with CDP VC, Lazio Innova and Zest to back pre-seed AI and UrbanTech. Unacademy's founders are targeting a ₹700 crore fund for AI/deep-tech. Funding remains episodic, not broad-based.
| Lead Investor | Displayed Deals | Associated Round Sizes |
|---|---|---|
| China's Big Fund (National Integrated Circuit Industry Investment Fund) | 1 | $16B |
Total sizes of associated rounds, not the lead investor's check sizes. Investor types are not inferred from their names.
PE themes from the last 24h: One report says PE firms have injected $4B into global defense in 2026, with bubble concerns emerging — a reported total, not a verified figure. Nelson Advisors flags a healthcare reckoning: regulatory pressure, tech disruption and capital-market bifurcation. New platforms: Haelan Capital Partners debuts; KKR launched Akrapoint Commercial Capital; PE is also betting on rail services. These are commentary and launches, not closed deals.
Fund-flow signals (fund size ≠ startup investment): Apollo took a minority stake in Mubadala Capital with $5B in commitments. Town Lane closed its second real-estate fund at a $1.9B hard cap. Egypt's Tanmiya closed a $130M growth fund, above target. Canada is courting pension capital via a $700M venture fund-of-funds; Penn PSERS placed $650M across private market funds; the World Bank is eyeing a $50M Pakistan fund-of-funds. Singapore VC is seeking US LPs in Ohio.
M&A activity clusters around AI and fintech: Itaú is buying AI startup NeoSpace in an all-cash deal — sources diverge on $580M vs $589M, so treat the figure as approximate. Datadog has made a reported (not confirmed) $4B offer for Upwind. Salesforce acquired Israeli analytics startup Loops; terms undisclosed. Zafin signed a definitive agreement to acquire Naehas. Bloomberg reports a potential SpaceX-Tesla merger rests on Tesla shareholder approval — speculation, not a deal.
Funding headlines from outside the tracked book — sourced links, not QL data.
The largest recent private rounds ($100M+) across the tracked book — 2376 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: 2026-10-25 · sources: private-companies.json, investors.json
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Weekend — payload available; weekday auto-DM is Mon–Fri 8:00 AM PT.
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 high concentration in AI-specific infrastructure and cybersecurity, with massive capital inflows (e.g., Flapping Airplanes' $1B round) contrasting with underlying uncertainty as seen in IPO withdrawals and ongoing discussions of an 'AI bubble'. Macroeconomic pressure is forcing startups into strategic pivots, while secondary markets (e.g., Forge) and secondary listings remain volatile.
🗂️ Dataset updated: no new closed rounds to add; list holds at 2,718.
100 tracked names flagged for markdown risk — 126 scored nightly, 2573 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 | +690% | $1.3B | 55 mo ago |
| 2 | Replit | Data / Infra | 86 | High | +257% | $9.0B | 42 mo ago |
| 3 | Xendit | Financial Services | 80 | High | +1681% | $2.7B | 54 mo ago |
| 4 | Forter | Fintech | 80 | High | +862% | $3.0B | 65 mo ago |
| 5 | Greenlight | Fintech | 80 | High | +544% | $2.3B | 67 mo ago |
| 6 | Betterment | Fintech | 80 | High | +382% | $1.1B | 43 mo ago |
| 7 | Varo | Fintech | 80 | High | +322% | $2.5B | 62 mo ago |
| 8 | Cross River Bank | fintech | 80 | High | +185% | $3.0B | 55 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.
84 markdowns detected all-time · 19 flagged beforehand · 65 missed · hit rate 22.6%
| Company | Detected | Event | Mark | Called? |
|---|---|---|---|---|
| Flock Safety | 2026-10-26 | Mark cut −10.7% | $8.4B → $7.5B | ✗ Missed |
| Agility Robotics | 2026-10-26 | Mark cut −26.5% | $3.0B → $2.2B | ✗ Missed |
| Kr Space | 2026-10-26 | Mark cut −73.8% | $6.8B → $1.8B | ✗ Missed |
| Posit | 2026-10-26 | Mark cut −83.8% | $5.0B → $811M | ✗ Missed |
| KuCoin | 2026-10-19 | Mark cut −50.0% | $20B → $10B | ✗ Missed |
| Replicate | 2026-10-19 | Mark cut −96.1% | $9.0B → $350M | ✓ Flagged #59 · Elevated |
| Homeward | 2026-10-12 | Down round −4.4% | $837M → $800M | ✗ Missed |
| Mistral AI | 2026-10-12 | Mark cut −41.7% | $24B → $14B | ✓ Flagged #47 · Elevated |
Down-round & valuation headlines scraped at publication from Google News, Hacker News, CNBC, Yahoo Finance and the wider tech press.
The tracked tape shows a single disclosed round — DeepSeek at $16B — against zero the prior week. Weekly capital 'change' is mathematically null, not positive. Founders reading headlines into this are over-extrapolating: state-linked mega-rounds distort averages. Fundraise benchmarks should come from your sector and stage, not from one sovereign-led deal.
Three names sit at High markdown risk versus public comps (Linktree +690%, Replit +257%, Xendit +1681%), and recent cuts include a -73.8% mark at Kr Space and -26.5% at Agility Robotics. If your last round priced against AI-adjacent exuberance, assume secondary buyers and later investors will mark you against today's public comparables, not your 2024-25 anchor.
Itaú buying NeoSpace (~$580-589M all cash, sources differ), a reported $4B Datadog offer for Upwind, and Salesforce acquiring Loops show corporates active at mid-range and reported-offer sizes. Note the pattern: most terms are undisclosed and the largest is 'reported,' not confirmed. If you're building toward an exit, a confirmed strategic acquisition remains the clearest liquidity path.
Watch whether DeepSeek's round is confirmed at stated structure and size, whether Datadog's Upwind offer hardens into a signed deal, and how OpenAI's reported target cut ripples through AI-adjacent marks. With 2,573 unscored names and one tracked deal this week, treat this edition as a signal-poor tape pending more data.