Venture Capital 2026 Statistics (Updated September)

How much venture capital is invested

1. 1

   US venture capital firms closed 15,352 deals worth $320 billion in 2025, a 51% increase in deal value over 2024 and the second-highest total on record, according to the NVCA.

   Source: NVCA 2026 Yearbook, press release (April 2026), 2026 ^[1]

2. 2

   Global venture funding reached a record $510 billion in the first half of 2026, more than the $440 billion invested in all of 2025, according to Crunchbase.

   Source: Crunchbase News, global funding H1 2026 (July 2026), 2026 ^[2]

3. 3

   KPMG counts $227.4 billion of global VC investment across 8,440 deals in the second quarter of 2026, down from a record first quarter.

   Source: KPMG Private Enterprise, Venture Pulse Q2 2026 (July 2026), 2026 ^[3]

4. 4

   US companies took $144.9 billion of venture investment across 3,644 deals in the second quarter of 2026, per KPMG.

   Source: KPMG Private Enterprise, Venture Pulse Q2 2026 (July 2026), 2026 ^[3]

5. 5

   Dealroom puts global startup funding at $444.1 billion in 2025, nearly ten times the level of five years earlier by its count.

   Source: Dealroom, Global startup funding guide, 2026 ^[4]

6. 6

   Venture investors put $42 billion into just over 1,500 startups worldwide in August 2026, 122% more than in August 2025, according to Crunchbase.

   Source: Crunchbase News, global funding August 2026 (September 2026), 2026 ^[5]

7. 7

   California companies raised $191.2 billion of venture capital in 2025, roughly 60% of the US total, according to the NVCA 2026 Yearbook.

   Source: NVCA 2026 Yearbook, summary page (April 2026), 2026 ^[6]

How much goes to AI and the largest rounds

1. 8

   AI companies accounted for 65.4% of US venture deal value in 2025, according to the NVCA.

   Source: NVCA 2026 Yearbook, press release (April 2026), 2026 ^[1]

2. 9

   US AI companies raised $222 billion in venture deals in 2025, 6.5 times the $34 billion of 2020, per the NVCA 2026 Yearbook.

   Source: NVCA 2026 Yearbook, summary page (April 2026), 2026 ^[6]

3. 10

   More than 70% of global startup capital in the second quarter of 2026 went to AI companies, up from just under 50% a year earlier, per Crunchbase.

   Source: Crunchbase News, global funding H1 2026 (July 2026), 2026 ^[2]

4. 11

   487 US deals of $100 million or more made up 3.2% of 2025 deal count and 67% of deal value, per the NVCA 2026 Yearbook.

   Source: NVCA 2026 Yearbook, summary page (April 2026), 2026 ^[6]

5. 12

   Hedge funds, sovereign wealth funds, corporates, endowments and other nontraditional investors took part in about 30% of US venture deals in 2025 and accounted for 83% of all investment value, per the NVCA.

   Source: NVCA 2026 Yearbook, press release (April 2026), 2026 ^[1]

6. 13

   The median US seed round was priced at a $16 million pre-money valuation in 2025, 78% above the 2021 peak, according to the NVCA 2026 Yearbook.

   Source: NVCA 2026 Yearbook, summary page (April 2026), 2026 ^[6]

How many VC firms and investors are there

1. 14

   FundingWatcher lists 24,254 venture capital firms worldwide; 9,355 of them (38.6%) are based in the United States.

   Source: FundingWatcher · investor file, data as of September 15, 2026 · 24,254 firms tagged as venture capital among 79,515 investors

2. 15

   11,425 investors took part in at least one US venture deal in 2024 through the third quarter, down from 15,303 in 2023, according to PitchBook.

   Source: PitchBook, active VC investors (Q3 2024 PitchBook-NVCA Venture Monitor), 2024 ^[7]

3. 16

   Only 101 first-time US venture funds closed in 2025, the fewest since 2011 and 77.9% fewer than the 457 launched in 2021, according to the NVCA.

   Source: NVCA 2026 Yearbook, press release (April 2026), 2026 ^[1]

4. 17

   The number of new US venture funds fell 68% from 2021 to 2024, according to Carta.

   Source: Carta, VC concentration in 2024 (2025), 2025 ^[8]

5. 18

   Investors on Carta closed 86 new venture funds with $3.9 billion in the first quarter of 2026, the most funds in any first quarter since 2022.

   Source: Carta, VC Fund Performance Q1 2026, 2026 ^[9]

6. 19

   US venture capital firms managed $1.25 trillion in assets at the end of 2024, according to the NVCA 2025 Yearbook.

   Source: NVCA 2025 Yearbook, press release (March 2025), 2025 ^[10]

7. 20

   US venture funds held $307.8 billion of unspent capital (dry powder) at the end of 2024, per the NVCA 2025 Yearbook.

   Source: NVCA 2025 Yearbook, press release (March 2025), 2025 ^[10]

How much VC funds raise and who raises it

1. 21

   US venture firms raised $67 billion across 585 funds in 2025, according to the NVCA.

   Source: NVCA 2026 Yearbook, press release (April 2026), 2026 ^[1]

2. 22

   The ten largest US venture funds of 2025 raised $22 billion, 32.9% of all VC fundraising, up from 13% in 2021, per the NVCA.

   Source: NVCA 2026 Yearbook, press release (April 2026), 2026 ^[1]

3. 23

   30 firms raised 75% of all the money US venture funds raised in 2024, according to PitchBook.

   Source: PitchBook, US VC fundraising concentration (December 2024), 2024 ^[11]

4. 24

   Andreessen Horowitz alone raised more than 11% of all US venture fund commitments in 2024, per PitchBook.

   Source: PitchBook, US VC fundraising concentration (December 2024), 2024 ^[11]

5. 25

   Emerging venture firms outside the top 30 raised $9.1 billion in 2024, 14% of US VC commitments, according to PitchBook.

   Source: PitchBook, US VC fundraising concentration (December 2024), 2024 ^[11]

6. 26

   Nine firms raised nearly 50% of all capital committed to US venture funds in 2024, according to Carta.

   Source: Carta, VC concentration in 2024 (2025), 2025 ^[8]

7. 27

   About 57% of the money raised by new venture funds on Carta in 2025 went to funds of $100 million or more, up from 31% eight years earlier.

   Source: Carta, VC Fund Performance Q1 2026, 2026 ^[9]

8. 28

   Most venture funds that close on Carta are smaller than $25 million.

   Source: Carta, VC Fund Performance Q1 2026, 2026 ^[9]

9. 29

   The average limited partner check into emerging funds that went through VC Lab was $159,000, which VC Lab reads as a sign that most of their LPs are wealthy individuals.

   Source: VC Lab, VC statistics (August 2026), 2026 ^[12]

10. 30

    Generalist funds made up 11.2% of emerging venture funds launched through VC Lab in 2025, down from 14.9% in prior years.

    Source: VC Lab, VC statistics (August 2026), 2026 ^[12]

11. 31

    Just 0.01% of pension fund assets are invested in European venture capital, and US pension funds put three times that share into venture, according to Atomico.

    Source: Atomico, State of European Tech 2025 (November 2025), 2025 ^[13]

How VC funds perform and exit

1. 32

   For every fund vintage from 2017 to 2024 except 2021, top-decile venture funds on Carta show a net IRR above 20%, while no vintage has a top-quartile IRR above 15.5%.

   Source: Carta, VC Fund Performance Q1 2026, 2026 ^[9]

2. 33

   The median 2021-vintage venture fund on Carta had a net IRR of 1.4% at the end of 2025, and the median 2022 fund 0.7%, both just back above zero.

   Source: Carta, VC Fund Performance Q4 2025, 2026 ^[14]

3. 34

   Fewer than half of the 2019 and 2020 vintage venture funds on Carta had returned any cash to their investors by early 2026.

   Source: Carta, VC Fund Performance Q1 2026, 2026 ^[9]

4. 35

   US venture-backed companies produced $217.1 billion in exit value across 1,463 exits in 2025, more than double 2024, according to the NVCA.

   Source: NVCA 2026 Yearbook, press release (April 2026), 2026 ^[1]

5. 36

   49 US venture-backed IPOs produced $105.2 billion in exit value in 2025, but 67% of the unicorns that listed priced below their last private valuation, per the NVCA 2026 Yearbook.

   Source: NVCA 2026 Yearbook, summary page (April 2026), 2026 ^[6]

6. 37

   The NVCA counts 859 unicorns valued at a combined $4.34 trillion, while only 30 to 40 unicorns exited in 2025.

   Source: NVCA 2026 Yearbook, press release (April 2026), 2026 ^[1]

7. 38

   Secondary sales of venture-backed stakes topped $100 billion in 2025, rivaling IPO and M&A volumes, per the NVCA.

   Source: NVCA 2026 Yearbook, press release (April 2026), 2026 ^[1]

How many companies VCs look at per deal

1. 39

   IT-focused venture firms consider 151 companies for each investment they make and healthcare-focused firms consider 78, according to a survey of 885 venture capitalists at 681 firms by Gompers, Gornall, Kaplan and Strebulaev.

   Source: Gompers, Gornall, Kaplan and Strebulaev, How Do Venture Capitalists Make Decisions? (NBER working paper 22587), 2016 ^[15]

What 24,254 VC firm records show

1. 40

   73.5% of the venture capital firms in FundingWatcher with a known founding year were founded in 2010 or later, and 23.9% since 2020.

   Source: FundingWatcher · investor file, data as of September 15, 2026 · 19,408 VC firms with a founding year · method

2. 41

   New York is home to 1,534 venture capital firms in FundingWatcher, more than San Francisco (1,118) or London (1,053).

   Source: FundingWatcher · investor file, data as of September 15, 2026 · 24,254 VC firms, headquarters city · method

3. 42

   The 1,000 most active venture capital firms in FundingWatcher, 4% of all VC firms, account for 48.2% of the investments recorded; the median firm has 6.

   Source: FundingWatcher · investor file, data as of September 15, 2026 · 673,184 investments by 24,254 VC firms · method

Frequently asked questions

How many venture capital firms are there?

FundingWatcher lists 24,254 venture capital firms worldwide, 9,355 of them in the United States. PitchBook counted 11,425 investors of all kinds in at least one US venture deal in 2024 through the third quarter, down from 15,303 in 2023.

How much venture capital was invested in 2025?

US venture firms closed 15,352 deals worth $320 billion in 2025, according to the NVCA. Worldwide, Crunchbase counts $440 billion for 2025 and Dealroom $444.1 billion.

How much venture capital goes to AI?

AI companies took 65.4% of US venture deal value in 2025, per the NVCA. In the second quarter of 2026 more than 70% of global startup capital went to AI companies, according to Crunchbase.

How much do venture capital funds raise?

US venture firms raised $67 billion across 585 funds in 2025, per the NVCA. The ten largest funds took 32.9% of it, and only 101 first-time funds closed, the fewest since 2011.

What returns do venture capital funds make?

On Carta, the median 2021-vintage fund had a net IRR of 1.4% at the end of 2025. Top-decile funds in every vintage from 2017 to 2024 except 2021 are above 20%, and fewer than half of 2019 and 2020 funds had returned any cash by early 2026.

Sources

1. [1]NVCA 2026 Yearbook, press release (April 2026). 2026.↑1 ↑8 ↑12 ↑16 ↑21 ↑22 ↑35 ↑37 ↑38
2. [2]Crunchbase News, global funding H1 2026 (July 2026). 2026.↑2 ↑10
3. [3]KPMG Private Enterprise, Venture Pulse Q2 2026 (July 2026). 2026.↑3 ↑4
4. [4]Dealroom, Global startup funding guide. 2026.↑5
5. [5]Crunchbase News, global funding August 2026 (September 2026). 2026.↑6
6. [6]NVCA 2026 Yearbook, summary page (April 2026). 2026.↑7 ↑9 ↑11 ↑13 ↑36
7. [7]PitchBook, active VC investors (Q3 2024 PitchBook-NVCA Venture Monitor). 2024.↑15
8. [8]Carta, VC concentration in 2024 (2025). 2025.↑17 ↑26
9. [9]Carta, VC Fund Performance Q1 2026. 2026.↑18 ↑27 ↑28 ↑32 ↑34
10. [10]NVCA 2025 Yearbook, press release (March 2025). 2025.↑19 ↑20
11. [11]PitchBook, US VC fundraising concentration (December 2024). 2024.↑23 ↑24 ↑25
12. [12]VC Lab, VC statistics (August 2026). 2026.↑29 ↑30
13. [13]Atomico, State of European Tech 2025 (November 2025). 2025.↑31
14. [14]Carta, VC Fund Performance Q4 2025. 2026.↑33
15. [15]Gompers, Gornall, Kaplan and Strebulaev, How Do Venture Capitalists Make Decisions? (NBER working paper 22587). 2016.↑39

Method

We searched Google for venture capital statistics, VC statistics, VC funding statistics and how many VC firms are there, read the statistics pages that ranked, and traced each number to the organisation that produced it: NVCA and PitchBook, Crunchbase, KPMG, Carta, Dealroom, VC Lab, Atomico and an NBER survey of venture capitalists. We checked every quote against the producer's page on September 24, 2026. NVCA and PitchBook pages block automated reads, so we checked those against archive.org copies. Producers count differently: Crunchbase, Dealroom and KPMG each give a different total for the same year, so every sentence names who counted. The four FundingWatcher numbers come from its investor file of 79,515 investors, built from public investor profiles, data as of September 15, 2026. A venture capital firm is any record whose investor type includes venture capital; micro VC funds and corporate venture arms are separate types and not counted. Investment counts are the ones recorded on those profiles, so firms that disclose few deals look less active than they are.

FundingWatcher numbers new on this page:

• 73.5% of the venture capital firms in FundingWatcher with a known founding year were founded in 2010 or later, and 23.9% since 2020. Founding year from the firm record. 4,846 firms without a founding year are left out. Firms that closed before September 15, 2026 may be missing, which makes the count lean young.
• New York is home to 1,534 venture capital firms in FundingWatcher, more than San Francisco (1,118) or London (1,053). Count by headquarters city as recorded. Palo Alto (311), Menlo Park (211) and other Bay Area towns are counted separately from San Francisco; with them the Bay Area total is 2,130.
• The 1,000 most active venture capital firms in FundingWatcher, 4% of all VC firms, account for 48.2% of the investments recorded; the median firm has 6. Sum of each firm's recorded investment count, ranked from most to fewest. 2,222 firms (9.2%) have no recorded investment.

All 42 statistics as a CSV: venture-capital-statistics.csv.

Cite this page

FundingWatcher, “Venture Capital 2026 Statistics (Updated September)”, updated September 2026, https://fundingwatcher.com/research/venture-capital-statistics/

To cite one number, link its anchor: each statistic has one, for example https://fundingwatcher.com/research/venture-capital-statistics/#stat-1.