VC Funding Hits Record $680B in 2026 But Deal Counts Keep Falling

Crunchbase data show global venture funding reached a record nearly $680B through Q3 2026, but capital is concentrated in mega-rounds: about a third of Q3 dollars went to just 27 companies raising $1B-plus rounds. North American deal counts fell 16% year over year to the lowest quarterly level since 2023, with the decline concentrated in seed and early-stage deals, while late-stage counts rose.

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