Our analysis shows that venturing rounds at most stages have grown their median dollar size. Later-stage rounds have experienced a much more pronounced growth.

The round size analysis chart below by GCV Analytics summarises the evolution of the size of corporate-backed rounds per stage. Generally, later-stage rounds (series C and beyond) seem to have grown more considerably than earlier stage.

Seed stage median sizes fluctuated between $1m and $2m, presenting no significant changes, over the past seven years, despite some examples of large seed rounds. Such rounds are somewhat less interesting to many corporate venturers because of the relatively higher risk perceived and the uncertain longer-term strategic fit of a startup. Moreover, corporate participants in such rounds often opt to go undisclosed for a number of strategic and communication-related reasons.