When it comes to venture capital (VC) activity this year, if you’re just reading the headlines, you aren’t getting the full story. We recently discussed a similar issue with the current state of merger & acquisition (M&A) activity specifically, and as CB Insights reports in their State of Venture Q2’26 report, the current snapshot of the overall venture industry is no different.
Their data shows two consecutive quarters above $200 billion, indicating one of the “strongest stretches on record.” However, when you start drilling down further, deal count is at the lowest it has been in over a decade, meaning we have a smaller number of mega rounds propping up the rest. In fact, those mega rounds accounted for 81% of all funding, with one company alone making up 40%.
