A quick update on the early stage market from this source:
After an exuberant Q3’15, which hit dot com-funding levels, Q4’15 cooled dramatically. Sentiment, which became very negative in late Q3, quickly manifested itself in Q4 activity as overall investment activity saw a drastic drop-off in the final quarter of 2015. Funding fell 30% amid weakening mega-round activity while deal activity fell 13% vs. the previous quarter, reaching a level last seen in Q1’13.
While we expected a slowdown given the negative sentiment, the speed of the pullback was striking.