Where the money of the top 100 US VCs and CVCs flowed in the first three quarters of 2026
In the first three quarters of 2026, global startup funding reached $679 billion, a record high for the same period, of which US companies took about $515.8 billion, up about 44% year over year. Tracking 100 US VC and CVC institutions, the report finds that capital is shifting from picking winners to directly purchasing capacity such as data centers, GPUs, power, and defense contracts, with 27 billion-dollar financings in Q3. Corporate venture capital already accounts for 87.9% of the amount of US AI venture deals; among the 25 VC sample, the top 10 companies by amount took 39.2% of funding, and the average deal size of $137 million is 5.7 times the median of $23.98 million.
In the first three quarters of 2026, global startup funding reached $679 billion, a record high for the same period, of which US companies took about $515.8 billion, up about 44% year over year. Tracking 100 US VC and CVC institutions, the report finds that capital is shifting from picking winners to directly purchasing capacity such as data centers, GPUs, power, and defense contracts, with 27 billion-dollar financings in Q3. Corporate venture capital already accounts for 87.9% of the amount of
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