On the surface, it looks like the venture market is “back,” but once you peel the onion a bit, it’s really… not. Last year, a small group of companies raised a massive amount of the capital, leaving everyone else to fight over what remains. It’s not just concentrated on the company side. A large share of the VC dollars came from only a handful of firms. If you’re a seed or Series A founder, this is why fundraising feels harder, even when the headlines might imply things are improving. #stateofventure #startups