“More Money, Fewer Checks: These 3 Charts Show The Divide Behind VC’s Record Funding Year”

Key points

• Global venture funding reached nearly $680 billion through Q3 2026.
• Smaller rounds (<$100M) have flatlined since 2023 while billion-dollar rounds surge.
• About one-third of Q3 funding went to 27 companies with >$1B rounds.
• North America saw a 16% YoY and 14% QoQ drop in deal counts in Q3.
• Despite higher dollars, deal activity in seed/early-stage contracts remains weak.