Series A deal pace shows marked increase in October

It's probably premature to be making any bold declarative statements but let me go ahead and declare: the early-stage venture market has begun its recovery after two years of decline.

US Tech Series A deal pace increased 30% from September to October. When adjusting for 10-year historical seasonality, we see about a 24% increase going from September to October on a seasonally adjusted basis. This could just be statistical noise, and we've seen a few more active months in the past couple of years of overall declines. But, given the positive investor sentiment in the public markets in the first week of November, the recovery we see in the Series A venture market seems likely to continue through November. Of course, any macro-economic shock could change things.