How Bradshaw uses the term
Bradshaw works it out as the price per share times the shares in issue before the round, which is the shares after the round less the new priced shares. It is on an issued-share basis: unissued option pools are not counted, so it reads below the fully diluted valuations in press reports. It carries the estimate mark because Bradshaw computes it from filed figures.
In the data
- Across 5,862 priced rounds allotted since 1 Jan 2024, the median pre-money valuation was £5.92m, on an issued-share basis. Data to 28 Oct 2026. UK pre-money valuations by round size: quartiles since 2024
Read more
- The rule: Post-money and pre-money, on the method page.
- Related post: UK pre-money valuations by round size: quartiles since 2024
- All terms