Startup validation change from financial report

Recently I learnt that it is possible to find out a startup's valuation change without a fundraising event or an insider source: through investment agency's financial reports.

For example, Destiny.xyz has all their reports here (opens in a new tab) under the Fund Documents section. In the latest 2023 Semi-Annual Report, their entire portfolio is summarized on page 15:

In this report, the numbers look pretty gloomy.

• Brex almost halved in value over one year (at least from Destiny's perspective): 4.1M in March 2022 became 2.1M in June 2023.
• Stripe did even worse in a similar timeframe: 3.5M in Jan 2022 went down to 0.99M in June 2023, an over 70% decrease.

Here is the link (opens in a new tab) to the full PDF.

Lots of my work friends are in the startup space. Hope that this is useful for evaluating your next job offer.