Interphase precipitation of nanoscale alloy carbides have been reported to improve the strength of Ti and Mo bearing microalloyed steels. These precipitates, which are suggested to be complex carbides composed of Ti and Mo, have high thermal stability and make the steel suitable for industrial production. In the present work, we characterise the nanoscale carbides by utilising atom probe tomography in order to understand their chemical composition, size and number density with varying thermo-mechanical processing conditions. A multi-stage approach has been taken for the proper identification of the particles. Initially, iso-concentration surface analysis has been performed to recognise the larger precipitates, clearly visible in the reconstructed volume. Further, the maximum separation ‘cluster-finding’ method has also been applied to detect these precipitates. Results from both methods have been compared in order to optimise the cluster-finding parameters and avoid improper identification, e.g. bridging of neighbouring precipitates or splitting one precipitate into several individual particles. Subsequent quantitative analysis of the atom probe data revealed a significant fraction of matrix Fe atoms inside the spherical precipitates (~10 nm in size) containing Ti, Mo and C.