QL Startup Quarterly Report

The institutional quarterly for startups and private markets. Every section is computed from disclosed rounds, valuations, filings and secondary marks across the 2,300+ company roster — capital by month, sector and stage, the mega-round league table, step-ups, unicorn births, the IPO pipeline, investors, geography, the secondary tape and a modeled outlook.

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Methodology
  • One edition per calendar quarter, starting Q3 2026. While the quarter runs, the edition is a preliminary quarter-to-date read and says so; on the first day after the quarter ends it becomes the final, dated edition.
  • The tape is the roster's disclosed rounds — every dated round in the quarter, de-duplicated so a round recorded in two places counts once. Amounts are as disclosed; rounds without an amount are counted but excluded from every capital total.
  • Step-ups need two disclosed post-moneys. A round is "up", "flat" or "down" only against a prior disclosed valuation; otherwise it is unknowable, not omitted.
  • The secondary tape counts names with a live mark or a non-zero three-month move; a frozen mark at exactly zero is "no trade", not "flat".
  • The Outlook is the one modeled section — a linear run-rate of quarter-to-date capital and a trailing three-quarter mean — and is labelled MODELED everywhere it appears.
  • Hover, focus or tap any card — KPI tiles, league-table rows, step-ups, unicorns, the secondary tape, IPO names and the outlook — for the detail behind it: the company's disclosed valuation path, round terms, rank in the quarter and computed insights. Click to pin the panel.
  • Free readers see the KPIs and the first two sections. The full report is part of Institutional. A QL Startup Quarterly Report is a dated research document, not audited financials or investment advice.

Frequently asked questions

What is the QL Startup Quarterly Report?

A dated, institutional-grade quarterly report on startups and private markets: capital deployed by month, sector and stage, the mega-round league table, valuation step-ups, unicorn births, the IPO pipeline, the most active lead investors, geography, the secondary-market tape and a clearly labelled modeled outlook. The first edition covers Q3 2026.

Where do the numbers come from?

From disclosed rounds, post-money valuations, IPO filings and secondary-market marks across the QuantLogix roster of 2,300+ private companies. Every section is computed from that data; undisclosed amounts are counted as rounds but excluded from capital totals, and the one modeled section is labelled as a model.

Who can read the full report?

The headline KPIs and the first two sections are free to every signed-in reader. The full report, including the league table, step-ups, unicorn births, the IPO pipeline, investors, geography, the secondary tape and the outlook, is part of the Institutional plan.

When does each edition publish?

A preliminary quarter-to-date edition is live throughout the quarter and becomes the final edition on the first day after the quarter ends; the Q3 2026 final publishes on 1 October 2026.