{
  "id": 17794614,
  "title": "More Money, Fewer Checks: These 3 Charts Show The Divide Behind VC’s Record Funding Year",
  "url": "https://urgent.news/2026/11/02/more-money-fewer-checks-these-3-charts-show-the-divide-behind-vcs",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-02T12:00:28.000Z",
  "source": {
    "name": "Crunchbase News",
    "slug": "crunchbase-news",
    "url": "https://news.crunchbase.com/venture/q3-2026-charts-funding-amounts-vs-round-counts/"
  },
  "original_language": "en",
  "account": "In 2026, venture capital spending reached record levels, with nearly $680 billion invested through Q3, yet smaller investments were becoming increasingly scarce. A key indicator of this shift is the proportion of funding allocated to various round sizes. While the majority of the funding went to larger rounds, those above $1 billion, smaller rounds of $100 million to just under $1 billion remained stagnant since 2023. In Q1 and Q2, the surge in billion-dollar-plus rounds was driven by significant financings for OpenAI and Anthropic. Nevertheless, a significant portion of the Q3 funding was concentrated in just 27 companies, each raising $1 billion or more.\n\nDespite the increased funding, the number of deals in North America has been declining over the years, even as venture investment continues to surge. In Q3, deal counts in North America dropped by 16% year over year and 14% quarter over quarter, marking the lowest quarterly total since 2023. Notably, despite the overall increase in funding, late-stage deal counts in North America increased year over year. The seed and early-stage deal count, on the other hand, is on track to hit a multiyear low.\n\nSeries B funding, a crucial stage for startups, typically shows growth and potential. However, while investment in U.S. startups at the Series B stage reached a multiyear high, the number of deals is expected to hit a multiyear low. This trend is also evident in seed and Series A startups, where the money is increasingly concentrated in larger rounds, even as the number of deals declines.\n\nLooking ahead, a major test for the venture boom will be the public market reception of companies like Anthropic, the largest venture-backed private company. Its potential $2 trillion IPO could either reinforce venture investors' willingness to finance massive AI bets or put unicorn valuations under pressure. However, neither scenario guarantees that funding will reach a broader range of startups. The real indicator of a more comprehensive startup recovery will be an increase in deal counts alongside the rising dollars.",
  "summary": "Record venture funding in 2026 has been increasingly concentrated in massive AI rounds, while seed- and early-stage deal counts are on the decline. Using Crunchbase data we provide a look at how third-quarter funding continued the year's dollars-up-but-deals-down trend.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}