Unicorns are found more often in the highest quartile of seed valuations
Percent of seed-stage companies funded between 2016–2020 that later became unicorns, by seed valuation quartile, according to Carta's 2025 "State of the Seed" report.
Table titled “Unicorns are found more often in the highest quartile of seed valuations.” It shows the percent of seed-stage companies funded between 2016–2020 that later became unicorns, by seed valuation quartile (per Carta’s 2025 “State of the Seed” report): bottom quartile 0.8%, 2nd quartile 1.5%, 3rd quartile 2.6%, top quartile 5.6%.
