Wilson Sonsini | The Entrepreneurs Report: Private Company Financing Trends, Q3 2025

Wilson Sonsini is pleased to present the Q3 2025 edition of The Entrepreneurs Report. We’ve compiled a range of data on venture, convertible note, and SAFE financing transactions in which the firm was involved during the third quarter, with the objective of identifying relevant trends in activity and valuation levels for the U.S. venture capital industry in general.

Key Features of This Edition:

• Market Perspectives: Former Wilson Sonsini General Counsel in Residence and current Edge Focus Chief Legal Officer David Grawemeyer draws on decades of experience advising executives in the fintech and financial services arena and offers his perspective on fundraising, mistakes to avoid, and how to build a compliance-focused team.
• Valuations Have Another Strong Showing: Valuations and round sizes increased quarter over quarter at most stages, suggesting that the most attractive companies continue to justify high valuations and big checks.
• SAFEs Continue to Dominate at the Pre-Seed Stage: With more than 90 percent of pre-Seed fundraises utilizing Simple Agreements for Future Equity (SAFEs), this basic fundraising instrument continues to be the clear favorite when it comes to sub-million-dollar deals.
• Introducing Breakthrough Minds, Our New Podcast: Breakthrough Minds, Wilson Sonsini’s new podcast, explores transformative innovations across technologies and industries. In each episode, we sit down with founders, operators, and thought leaders to hear candid stories about the breakthroughs that shape the future.

You can find the pdf version of the report HERE.

Compliments of Wilson Sonsini – a member of the EACCNY