Typical pre-seed round size for biotech startups in Bay Area
Based on 12 Form D filings by Bay Area biotech issuers at pre-seed stage, filed Oct 2024 – Sep 2026. Updated monthly. Change any segment to compare.
The numbers
- Median pre-seed raise: $140k
- Middle half of rounds: $50k – $402k
- Filings in sample: 12
- Rounds under $1M: 92%
- Rounds over $5M: 0%
- Updated Sep 2026
Read this number carefully
Form D undercounts small SAFE rounds and rounds that rely on other exemptions. Treat the median as a ceiling for "typical", not a target.