Industry Analysis - April 5, 2023

Online Startup Investing in March 2023

  • March was a great month for online startup investing. Investors put about 2.4x more dollars into deals than they did in February. This large growth mainly comes from two Regulation A (Reg A) raises in the Media, Entertainment, and Publishing Industry: Skybound Holdings on Republic and Slingshot USA on Dalmore Group.
  • Wefunder dominates the Regulation CF (Reg CF) deals once again this month. But Dalmore Group clearly took first place for Reg A deals while SMBX had the most investments in debt deals.
  • The number of closed deals increased between February and March from 88 to 146. It’s a good reminder that many — if not most — currently open startup raises will close by April 30. Every year, the SEC requires startups to update their filings with the latest financial statements beyond this date to be able to continue their raises. Therefore, many companies prefer to close their deals on April 30 to avoid having to pay to submit their 2022 financials after this date. So be aware: the deal that you may be considering investing in might close soon!

Note: All data on online startup investing used for the Chart of the Week comes from the KingsCrowd database and represents a snapshot of the U.S. crowdfunding market.

About: Léa Bouhelier-Gautreau

Léa is passionate about impact investing and sustainability. Prior to KingsCrowd, she worked for Stanford’s accelerator, StartX, helping to select the most promising entrepreneurs. She also led the first award-winning study on the Malawian startup ecosystem. In her free-time, she volunteers to help entrepreneurs in Cameroon, Brazil and Colombia. Léa holds a degree in Anthropology from France and is currently enrolled in the UC Davis MBA program.

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