Tracked disclosed funding was thin this window: one round, $16B — DeepSeek's Series A, reported as led by China's Big Fund (National Integrated Circuit Industry Investment Fund), Technology sector. Two caveats: a fund lead does not mean the state vehicle wrote the entire $16B check, and a 'Series A' label at this size is unusual enough to warrant source verification before banking on the number. The previous week showed zero disclosed tracked rounds, so week-over-week change is not calculable (null). Coverage: 2,453 eligible rounds in the book, one missing weekly valuation. Trend totals cover tracked companies only, not the whole market.
Reported funding not in the tracked tape: Upwind raised $400M at a $3.8B valuation; Bedrock Robotics pulled in $600M; an AI construction startup crossed a $4B valuation (buyer unnamed in headline); Cognition is reportedly eyeing new funding at an $80B valuation — eyeing is not closed, so exclude from any totals. Braid, a profitable Dutch connectivity startup, raised €34.13M. Elsewhere: Capital Factory formed partnerships with ARK Invest and Tim Draper for a hard-tech push, and PhysicsWallah partnered with Startup India on incubation beyond major cities. Both are partnerships, not investments.
Tracked-book trends for the week: one disclosed round, $16B, all in Technology; prior week zero rounds, zero capital — the weekly change is null, not zero percent, because the denominator is empty. Sector concentration is extreme by construction: with n=1, Technology's '100% share' is meaningless. Context items worth tracking: Crain's numbers behind New York's AI economy, a founder survey point that trust is the biggest barrier to AI agents (TechTarget), and Madica receiving $6M from Flourish Ventures to back African startups — a fund allocation, not startup funding.
| 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 |
Marks are moving in both directions. FuriosaAI quadrupled to $2.9B on new funding as it competes against Nvidia — a fresh round mark, not a realized return. North Carolina's $250M Anthropic stake is now marked at $560M — a 2.2x paper gain on a private holding whose mark depends on the fund's own assumptions. Against that: Firstpost revisits OpenAI cutting $150B from its valuation target, and Finimize flags pricing problems in AI private credit. The markdown watch board (Linktree 86/100, Replit 86/100, Kajabi 81/100, all High vs public comps) covers 126 scored names; 2,573 remain unscored.
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.
Tracked disclosed funding was thin this window: one round, $16B — DeepSeek's Series A, reported as led by China's Big Fund (National Integrated Circuit Industry Investment Fund), Technology sector. Two caveats: a fund lead does not mean the state vehicle wrote the entire $16B check, and a 'Series A' label at this size is unusual enough to warrant source verification before banking on the number. The previous week showed zero disclosed tracked rounds, so week-over-week change is not calculable (null). Coverage: 2,453 eligible rounds in the book, one missing weekly valuation. Trend totals cover tracked companies only, not the whole 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.
Fund activity dominated the VC feed over deal flow: BY Venture Partners closed a $60M Fund III for early-stage AI (MENA-focused per Wamda), and Auriga Partners announced an €80M interim close on its second cybersecurity fund — interim means not final. Nvidia participated in Simplismart's $14M round, another strategic-corporate entry into India's AI stack. Counterweight: Businesskorea reports South Korea's claimed 10-trillion-won startup investment figure turned out partly 'illusion' — a caution on headline aggregates everywhere. Vietnam commentary on what long-term VC requires remains undated context, not a deal.
| 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.
Mid-market software and healthcare led: Polaris Growth Fund backed commercial-real-estate software firm ID Plans, and InTandem Capital Partners completed a growth investment in Atlas Health — 'completed' signals closed, unlike most announced rounds. H.I.G. CEO Brian Schwartz pitched operational value creation as the return driver; standard messaging, but note it's appearing as AI-debt and valuation questions rise. Navatar launched Claude-powered recommendations inside its PE/M&A CRM on Salesforce — vendor news, not a deal. India PE commentary on AI promise remains thematic. Beacon's Ganaz acquisition also appears here via Dealroom.
Fundraising continues at the smaller end: HC Partners hit a €100M hard-cap close on its third fund (hard-cap means the ceiling, not necessarily the target); Endeavour is seeking $950M for a Western-US-focused fund — seeking, not closed; Tanmiya Capital raised $130M for its second Egypt-focused fund. Structural threads: 401(k) private-asset interest is rising per InvestmentNews, RIAs see struggling established LPs as an opportunity, and Mubadala shelved its Brazil port exit while UAE players look to Canada and the UK. Watch item: Bloomberg's 'AI Debt Deluge Gives Credit Market Indigestion' — the financing layer under the AI buildout is getting scrutinized.
M&A stayed in tuck-in territory: Freshworks acquired AI startup Robusta for its IT operations platform (terms undisclosed); Chapter acquired Hively toward a one-stop retirement offering; Toronto's Beacon acquired Seattle farmworker-payroll startup Ganaz, with CEO Hannah Freeman departing. The largest: Ferring's acquisition of fertility biotech Gameto, worth up to $1.38B including milestones — 'up to' language means earnouts, not cash at close — flagged by TA Ventures as its 20th unicorn. CXOToday reports Indian AI and data startups drawing US/European acquirer interest; treat as deal-flow commentary, not a transaction.
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: 2026-10-28 · 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 on October 28, 2026, remains bifurcated: high-valuation growth rounds continue for AI and infrastructure security (Upwind, Infisical), while sector-specific activity persists in robotics and blockchain (Foundry Robotics, Cancore). Despite continued innovation, there is clear concentration in AI-adjacent segments and notable uncertainty reflected in the ongoing restructuring and layoffs at larger tech incumbents like eBay and Electronic Arts.
🗂️ Dataset updated: added 1 company to the QuantLogix private-companies list — Cancore — 2,738 → 2,739. Append-only.
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 | +710% | $1.3B | 55 mo ago |
| 2 | Replit | Data / Infra | 86 | High | +246% | $9.0B | 42 mo ago |
| 3 | Kajabi | SaaS | 81 | High | +133% | $2.0B | 66 mo ago |
| 4 | Xendit | Financial Services | 80 | High | +1870% | $2.7B | 54 mo ago |
| 5 | Forter | Fintech | 80 | High | +964% | $3.0B | 66 mo ago |
| 6 | Greenlight | Fintech | 80 | High | +612% | $2.3B | 67 mo ago |
| 7 | Betterment | Fintech | 80 | High | +433% | $1.1B | 43 mo ago |
| 8 | Varo | Fintech | 80 | High | +260% | $2.5B | 62 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.
One tracked disclosed round in seven days, and prior week zero, means the tape is statistically noise. A single state-backed mega-round (DeepSeek, led per reports by China's Big Fund) skews every percentage. Benchmark your raise against sector comps, not this window — and note one weekly valuation is missing from coverage, so marks are thinner than they look.
Ferring's Gameto acquisition is worth 'up to' $1.38B — that headline number likely includes earnouts contingent on regulatory and clinical milestones. If you're modeling comparable biotech exits or negotiating your own term sheet, separate upfront cash from contingent consideration. TA Ventures counting it as unicorn #20 is investor marketing; the cash math is what matters.
The ledger shows Kr Space marked down 73.8%, Agility Robotics 26.5%, Flock Safety 10.7%, and VerSe Innovation reported ~90% below peak. Meanwhile Anthropic LP stakes get marked up 2.2x. If your 409A or next-round anchor assumes last round's mark, stress-test it against the watch board: 100 names are already on markdown watch, and AI-adjacent names like Replit and Linktree score High for compression vs public comps.
Thin disclosed tape this week — one $16B state-backed round carries everything. Watch three threads: AI credit-market stress (Bloomberg, Finimize), OpenAI's cut target rippling through secondary marks, and whether reported rounds (Cognition at $80B, Upwind, Bedrock) confirm as closed next week.