Down round

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Down round

Refers to a round of venture capital financing that is raised at a lower firm valuation than the previous round.

Down Round

In venture capital, a round of financing in which a company issues more stock with less valuation than previous financing rounds. This devalues all other stock in the company and results in less equity per share. A down round is usually a response to a major or minor cash flow problem, and ideally result in immediate cash on hand to cover operating costs. When the dotcom bubble burst, many tech companies held down rounds as an emergency measure to stay in business. See also: Antidilution provision.
References in classic literature ?
They beat the tattoo, called the roll, had supper, and settled down round the fires for the night- some repairing their footgear, some smoking pipes, and some stripping themselves naked to steam the lice out of their shirts.
Only his hands, with which he kept his coat-skirts down round Nikita's sides, and his legs which the wind kept uncovering, began to freeze, especially his right hand which had no glove.
Having settled this point to the perfect satisfaction of all parties, concerned and unconcerned, we sat down round the fire in the ladies' cabin - just to try the effect.
Just then, whether it was the cold of the morning that was now approaching, or that he had eaten something laxative at supper, or that it was only natural (as is most likely), Sancho felt a desire to do what no one could do for him; but so great was the fear that had penetrated his heart, he dared not separate himself from his master by as much as the black of his nail; to escape doing what he wanted was, however, also impossible; so what he did for peace's sake was to remove his right hand, which held the back of the saddle, and with it to untie gently and silently the running string which alone held up his breeches, so that on loosening it they at once fell down round his feet like fetters; he then raised his shirt as well as he could and bared his hind quarters, no slim ones.
I have had some up and down rounds this year," said Love, whose 72-hole total was one stroke off the tournament record set in 1996 by Loren Roberts.
During the fourth quarter of 2014, up rounds exceeded down rounds 79% to 6%, with 15% flat.
During the fourth quarter, up rounds exceeded down rounds 54% to 33% with 13% flat, the lowest amount by which up rounds exceeded down rounds since the third quarter of 2004," said Barry Kramer, partner in the firm and co-author of the survey.
Additionally, up rounds exceeded down rounds for the 19th consecutive quarter, with up rounds exceeding down rounds 73% to 12%, with 15% flat," said Patrick.
During the second quarter of 2014, up rounds exceeded down rounds 80 percent to 6 percent, with 14 percent flat.