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Your chances of obtaining growth funding hinge significantly on current market conditions and investor sentiments related to your specific market – which can change noticeably in a quarter or two. Therefore, it is advisable to have a rough understanding what the situation and the outlook is – it will impact not only your overall chances of success, but also how long it might take and how much work it will require.
There are in-depth reports available describing the recent (past) investment environment in SV, for example the Silicon Valley Venture Capital Survey – Q4 2017. For a 2018 outlook, take a look at this Summary of 2018 VC & PE Predictions.
If you are looking into background information about the changes in SV investing, read for example this article by Ben Thompson.