VC Sentiment Report

A confidential interview survey of insider VCs

Newcomer’s VC Sentiment Report is a quarterly, anonymous study to understand the state of the startup investment market from top venture capital investors.

Through a series of interviews, we gathered the views and opinions of 25 investors, including former and current Midas List members representing many of the best-known firms and emerging managers who’ve started their own funds. The report contains charts and direct quotes that represent investors’ unvarnished views on a range of industry topics like buzzy tech sectors, the controversies around dual-valuation rounds, and the most competitive deals of the quarter.

By Eric Newcomer, Jonathan Weber, and Madeline Renbarger

25

Venture investors interviewed

17%

Say an AI bubble probably bursts soon

32

Companies named as potential generational startups

40% : 76%

Would buy OpenAI vs. would buy Anthropic