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FirstFT: the day's biggest stories
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The Conservative peer Peter Gummer has said he will leave the House of Lords after an investigation found he committed five breaches of standards over Covid PPE deals and failing to cooperate with previous inquiries.
The divergence of blockbuster totals at the top and contraction at the bottom has become the continuous tension in venture for the better part of three years, according to past Crunchbase reports. After the 2021 boom sent deal counts and dollar volumes to records across all stages, the market began contracting sharply in 2022 and has redistributed capital upward ever since. Median and average round sizes at seed, Series A, and Series B have risen each year since 2024, even as deal volumes have struggled to recover.