Preqin's Private Asset Valuations: Investment horizons and the illiquidity discount is the second in our new quarterly series on valuations. This report explores investment horizons from seed or series A funding stages in a study of VC exits from 2012 to 2022.

We consider the trends seen in different markets and sectors, and discuss the implication of the investment holding period for valuation discounts. As more VC investors turn to early-stage investments for their relatively small ticket sizes and diversification benefits, we shed light on what to expect.