PitchBook and NVCA reported $267.2 billion in Q1 2026 deal value and $347.3 billion in exits. Without the five largest deals and exits, those figures fall by 73.2% and 86.6%. The data shows extreme capital concentration while liquidity remains limited for the rest of the market.
Why it matters
Venture Monitor shows the uncomfortable side of record numbers: without five deals, the quarter looks dramatically weaker.
What investors should watch
For private-market investors, the question is whether a company belongs to the narrow group that can still attract capital.
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