What is the structure or area that the arrow is pointing to? 
Definitions:
Financing Stage
A phase in a company's development when it seeks to raise money from external sources to support its growth and operations.
Commercial Entities
Organizations engaged in commercial activities, aiming to generate profits from their operations.
Pre-money Valuation
The valuation of a company immediately before it goes through a round of financing or receives external funding.
Post-money Valuation
The estimated value of a company after external financing and injections of equity have been added to its balance sheet.
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