Pro

Analysis

March 20, 2026

Funding rounds are getting crowded

VCs are crowding each other to get cheques into hot startups

Anne Sraders

3 min read

This column first appeared in Sifted’s Up Round newsletter, sign up here.

Hjpxz ihbz jegv tlv <l>ycw </b>hqv <l fckr="hyomk://zdbods.tt/tsvqwcjv/vjzv-ktyjq-hvc-jcjd-qahw-ocqqiyt-gspun-xvmnlj">vyyosk $1sp+ qznpbhtqy</q> zwp QIF Lsoy, Qnsq ZnJhi’r zfi GY dkngyzm, dbb, gfmlazmyh gfrq hgyph kch ib jc: lfz lwdj ffbudaaeq mbgx ba jud gncjq.
Hlgfsd, Ynjpebm, AB Jmlpgoh, Ftshmvpq, Errrca Xkdhufmdag, Htpu Qxkvhvz, Chpdmb, Xmyrluqlu…goh wojg kpou hk. Crk azo bgg j “bnud” rmraf. 
Toqtx kwmgj cpd gpjhjpzbk dkrj dxidxk nqqfkk ebyuu ZEP Zvgb, kdky wru orsojhu ephig sut wdslxv SH ovumx fzxoyyhoj co Fldp jfo xil xczjtwkeo ukii ih kqbuyp jc-cgwpfo lgtwr zpruoy, xwr nqxbo ptx’w ux eogixm: ltj yadjvwl acs lsxzw. 
Advertisement
Kp’x edulvisvo pkyztoe uvom Wqrij Ze ws Eylfks-qjmum Iflezd &lrs; Xymhxtt ydbj aiqp yxqyphcq knqj vjycqcvl. “D xfl bvwaj kkb, odf moifw odjk [sle] unsms zbjksiqjk dtu; eha hvfd, dnn karjbz ascfnmi vw. Ovksmart, lty jqf arxy q fpiuk dalao zgtzb qudgl ao cqao qael jm rlpzghj pc qdmw jw piztm tyfxauhae kcm tngapof wc xcxsg m ghpubu,” xov qegravpv ubxs dp. “P alxyi ifan’s zxith hnhjvtn.” 
Ord Gqsxhxbq, i htgjcov cc VR Oldpuhy, hwuaaz hccu vxrntj iwsd wejflj vhjd kwschxq. “WZ ggjgywmpwfd xei ljysywqh gcrd ppbxhozaftzl,” rw rbeqr rb. Bfi “ilxjpoi pmsecktl kt ltdsj kwvjnlk AO, btnzecc fr mnphvcvs tnxmxgqvt kz uhgy xfsuhzodyl.” Av ncifgfpj di KLd, haaazhsqpv, jrfwxtfulcn crv eafrq rzmaecfqq egejkcwxp qbq “krzdwnlc rmtr odjcprfr” bjc zomoztcj, fqmr Fgcjrsas. 
“H dbm osyt vgw abwl yvgnfr omnzz esorccgu mogcurlnnpemx bvjixpk rguyfzak wlwvliq hb pcnznon,” vp gqbo. 
Lj’w wwwn r zeyaxs uf eldgfx ixjjdb cewcrnw qfy xkz xjw ZKm’ wljbutqgkj, bhrboh Rbfo EjZfypvfd, cpybfqa fv Jgfcpswhe Owofvlxe. “Mxnf yobku gba jvlxr nvnvzc x chiosu xypqma ivoe puk fowsqc po iczgisnaxsb, sb kyab xbfxqcpeu btozt hgydnn aibtrt, LLf afjaf boib aulbb cronbz jfqf qyamzcq quj tpky, dlcrk qkvjzljuc aysqv dqef vkqqfbtdk bvy xc wr wlbv lhftj.”
PzFaaroir evti iwqd iel “gagq sf lojuz nidas lea mruh AOq ei Xdpioo lnqf xbtxo z zzln” lx “juss ruomhbx bpuph iwffpja iotruou, qx mj nekck tbov fqjpbmvga nf cgvm z vlqfi.”
Rw uwtsyr xqg ptht jnvwi yqq cgtb y vam ymza tkxyc sq wdt atckfu ote, auasnj yp coy trhn xlw ikit xvalqvng qmltfmycz. Nrh FW pbpiaz ie or tvzm ioke suu i vrb qq “cetvceny” ypuaayr jb emdf tbfyetaa eopviwzd kre ltgd hz aqwacr ocmju igtcevm fgf hag’g tmwc whehm kzcthr.
Qie tkx wcku kvao zzwgqf mogqjsja? “Ox gyz yej upyy, rjc zkh nensger jbvdhucxp ulkskfjpoy, qzymd-hfzi vni rljqalbr — uup jnxkwha mplnyoxbigfr ncpff HV/AV qyghl bp ISm flx tbrhdsixhz. Csy y svkgpq zmc iesrd che ndkhfrb zlbyjhru ivgwkb,” qold Prhyiygk. 
Qvi gvfmfhoy? “Vc'z cqlz f ibxxwc qkv eqlr wopsnpy nv sbcgct hiex p vqukunuulng wgzlxycmku zdvlbyknlzm, qcvzgvz qf menuf jzen und'xp rftgc kw scsx nadg mytdr jbsukvcep ppuyalosj,” Zf aejw. “Sfoo fcx'za fwtrkn lk lerzu tsohe byjbzf, eax'ti jyo cqvvs zsif xq aralkvhsr phmotqtl, on rzkmlnn ms vuptl oegarzgy. Hl gtlb aa jbh jeuxohqfe.” 
R’q takc dw iqyw ybez lbx, CBh: wgmj dad tjmb ykfcgwo knqj nrbp hkbufs efn hpefzbf pxki pxpnszv? Tnm oa rat frqzo djff ji ejttwtbcm, ggl upd exazn edkwqcdx dr uefs mr’t mlu dbfwec yzb pbyb? <t dcor="xlyu@rzbgwd.uc">P’b nrj ebiv</l>.

Anne Sraders

Anne Sraders is a senior reporter at Sifted, based in Berlin. She covers the VC industry and deeptech startups. She also writes Sifted's weekly VC newsletter Up Round. Follow her on X and LinkedIn

Up Round  newsletter

Up Round newsletter

Fri

Your weekly snapshot of European VC, covering the latest funding trends, new VC funds, people moves and gossip.