Founder Resource · Q1 2026 Update

Early-Stage Valuation Cap Guide & Fundraising Benchmarks

What valuation cap should you set? How much dilution should you expect? Where does your round fit? Benchmarks from Carta and AngelList, updated through Q4 2025.

Carta H2 2025 · 1,379 rounds AngelList H1 2025 SVB State of Markets H1 2026 US Startups · Post-money SAFEs + Priced Rounds
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How to use this guide
Start with the Overview tab to understand where each round fits in the fundraising journey. Then select your specific round type for detailed val cap benchmarks by amount raised and sector. Use this to benchmark your cap — not as a fixed target. Every deal is different.

For informational purposes only · Not legal or financial advice · Data: Carta, AngelList, Silicon Valley Bank public reports · Compiled by BVJ Consulting · Updated Q1 2026