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November 06, 2023 | Tom Ballard

LaunchTN releases annual and Q3 deal reports

The quarterly deal report reveals that funding volume declined but deal sizes increased in Q3.

Ahead of the quarterly meeting of the Launch Tennessee Board of Directors on Thursday, the organization has released two reports.

  • One is its annual report for 2023 which is full of both quantitative and anecdotal ways that the public-private partnership and its partners have impacted start-ups and the ecosystem.
  • The other is the Q3 “Tennessee Deal Report” which notes that funding volume declined but deal sizes increased in Q3. Thirty-six deals totaling $220 million closed, down 31 percent in deal count and 23 percent in dollars versus last year. However, average seed deal size jumped 68 percent quarter-over-quarter to $2.2 million, excluding outlier Croissant. Excluding outliers, seed deal size further increased 77 percent to $3.1 million. Early stage Series A and B deal sizes also grew 57 percent versus last quarter as companies raised more conservatively to extend runways.

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