Distribution of Funding Rounds by Volume
Lower Middle Market
$0 - $5M $5 - $10M $10 - $25M $25 - $75M $75 - $100M $100 - $150M
1%
6%
6%
8% 1%
11%
13%
11%
12%
2022
2023
2024
11%
13%
67%
69%
71%
• Deals in the $0 – $5M category consistently dominate the distribution, increasing slightly from 69% in 2022 to 70% in 2024. This reflects sustained and growing support for early-stage startups and smaller businesses, a healthy indicator of market entry opportunities and grassroots innovation. • The $5 – $10M and $10 – $25M categories remain stable across the years, collectively contributing around 24% – 25% of deals annually. This consistency highlights a robust mid-sized funding ecosystem, crucial for scaling startups. • Despite economic challenges, deal size distributions remain largely consistent YoY, with minor fluctuations that suggest market stability and ongoing investor interest in the sector.
Source: Pitchbook as of 31 December 2024. Data consists of transactions where deal value was disclosed, and deal size was $0 to $150M.
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