How to Interpret Alpha from DeFillama Raises (Part 2)

With examples

It’s recommended to read the first part here. To save time, I won’t be repeating introductory information about DeFillama raises.

Every column on DeFillama raises means something. I’ve explained before how to asses the Lead Investor, Other Investors, and Sector information — what they mean for the project. This time, let’s continue starting with the Round column.

#3 Which stage is the project?

Rounds mean the stage of funding, with the order as follows:

• Pre-seed
• Seed
• Series A
• Series B
• Series C
• Exit stages (e.g. IPO, unlocks.)

My favorite is digging into Pree-Seed and Seed projects because there’s a huge chance I haven’t heard about them before.

Pree-seed and Seed are in the very early stages. Often the rounds are led by small VCs or angel investors.

*Crypto urban legend likes to say, Pree-Seed/Seed is often a marriage between a founder with ideas but no product, and VCs with too much money to throw away. This phenomenon was especially true during the late stage of the last bull market. I expect with money…