How big a cheque VC firms write, by stage
Median maximum check: Pre seed $1.0M, Seed $1.5M, Series A $3.0M, Series B $5.0M.
This report covers the whole database.
Read with care: Only about 1 firm in 20 states a cheque size, mostly on its own website, so treat the boxes as a rough guide.
Methodology
We use VC firms that state a largest cheque size and name the stages they invest in. Each box covers the middle half of firms and the line is the median. The scale is logarithmic, so each step is ten times bigger. A firm that names several stages is counted in each of them, so the boxes add up to more than the number of firms.
Computed 2026-11-02 from the VC Catalog database.
Data table
| Stage | Firms (n) | 25th pct | Median | 75th pct |
|---|---|---|---|---|
| Pre seed | 459 | $400.0K | $1.0M | $3.0M |
| Seed | 694 | $500.0K | $1.5M | $5.0M |
| Series A | 347 | $1.0M | $3.0M | $5.0M |
| Series B | 110 | $3.0M | $5.0M | $10.0M |
| Series C | 38 | $5.0M | $15.0M | $25.0M |
| Growth | 116 | $4.8M | $10.0M | $25.0M |
| Late | 27 | $5.0M | $15.0M | $55.0M |
| Multi stage | 63 | $2.5M | $10.0M | $27.5M |