PitchBook and NVCA reported that $100 million-plus mega-rounds captured 87.5% of the $412.7 billion invested in the US in the first half of 2026. AI took 86% of venture dollars, while Andreessen Horowitz, Thrive Capital and Founders Fund raised 48.1% of all capital committed to VC funds.
Why it matters
The Q2 Venture Monitor strengthens the same conclusion: records exist, but the market has narrowed.
What investors should watch
Capital access has become a prize for leaders, not a baseline condition for the whole venture market.
This article is market context, not investment advice and not a promise of returns. It highlights where capital is moving, which companies are reaching the next stage, and which risks should be checked before any decision.
Source: pitchbook.com