Dealroom Deep Dive

Global venture capital

The latest data and global trends in venture capital, startups, exits and innovation worldwide.

Raised in Q2 2026
$204.5B
VC funding · closed quarter
Raised in 2025
$444.5B
VC funding · full year 2025
Combined enterprise value
$49.5T
VC-backed Startups worldwide · founded 1990+
Unicorns
3,942
$1B+ valuation or exit

Annual venture capital

Funding into Startups worldwide has grown nearly tenfold over the past five years, reaching $444.5B in 2025. With $505.3B raised in the first 6 months of 2026, the full year is on track to land at $1.0T, a +127% change versus 2025. The chart below shows annual funding totals; the latest year is annualised from observed-to-date data and represents the renderer's projection, not a closed quarter.

Quarterly venture capital

Yearly totals mask the quarter-by-quarter rhythm. The chart below shows Startups worldwide funding raised in each of the last 21 complete quarters through Q2 2026. All bars are actual closed-quarter sums, no projections, no in-progress quarters.

Global venture capital raised by stage

How capital deployed into Startups worldwide is split across round sizes. In the trailing four quarters, 77% of capital landed in scaleup ($100M+) rounds, 17% in breakout ($15–100M), and 6% across startups (under $15M). Each panel below stacks the canonical sub-bands across Q2 2022 → Q2 2026.

Global venture capital raised by stage, quarterly

Startup

Breakout

Scaleup

Most active investors worldwide

The most active investors in Startups worldwide ranked by the number of disclosed rounds they've participated in. Y Combinator leads with 9,954 rounds, followed by Sequoia at 3,294. The table shows the top ten with their firm type, in-scope round count, total portfolio size, and headquarters.

Most active Global investors

#InvestorTypeInvestmentsPortfolioHQ
1 Accelerator 9,954 6,972 Mountain View, United States
2 Venture capital 3,294 1,912 Menlo Park, United States
3 Venture capital 2,954 2,293 Palo Alto, United States
4 Accelerator 2,779 2,278 New York City, United States
5 Accelerator 2,348 1,924 Singapore, Singapore
6 Venture capital 2,251 1,153 Palo Alto, United States
7 Venture capital 2,128 1,250 Princeton, United States
8 Venture capital 2,114 1,182 Menlo Park, United States
9 Venture capital 2,017 1,181 Menlo Park, United States
10 Venture capital 1,819 1,537 Sunnyvale, United States

See all investors in Dealroom

Source: Dealroom.co

Top companies

Two views of leadership in Startups worldwide: the most-funded companies all-time on the left, and the hottest companies right now by Dealroom Signal on the right. Total-funding figures include all capital sources tracked by Dealroom (VC plus grants, project finance, and other instruments). Signal is Dealroom's live growth ranking, these are the firms with the strongest recent momentum across team, timing, growth, and completeness.

Top funded

All-time total funding (includes non-VC sources)

  1. 1OpenAISan Francisco, United States$191.9B
  2. 2AnthropicSan Francisco, United States$124.3B
  3. 3xAIPalo Alto, United States$37.1B
  4. 4WaymoMountain View, United States$27.1B
  5. 5DiDiDongcheng District, China$20.2B
  6. 6DatabricksSan Francisco, United States$20.0B
  7. 7Ant Group | AlipayHangzhou, China$18.5B
  8. 8PrometheusSan Francisco, United States$18.2B
  9. 9UberSan Francisco, United States$15.2B
  10. 10Reliance JioNavi Mumbai, India$14.4B
See all in Dealroom

Hottest (Dealroom Signal)

Ranked by Dealroom's growth indicator

  1. 1DuolingoPittsburgh, United States99
  2. 2MercadoLibreBuenos Aires, Argentina98
  3. 3BYDShenzhen, China98
  4. 4ZomatoGurugram, India98
  5. 5PreplyBrookline, United States98
  6. 6ŌURAOulu, Finland98
  7. 7AbridgePittsburgh, United States98
  8. 8RobloxSan Mateo, United States98
  9. 9FeverNew York City, United States98
  10. 10MotiveSan Francisco, United States98
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Source: Dealroom.co

How global venture capital is distributed

Venture capital is concentrated in a handful of ecosystems. A few regions account for most of the worldwide total, but the long tail of emerging hubs is where some of the fastest growth now sits.

The United States

Still the single largest source of venture capital by a wide margin, anchored by the Bay Area and New York alongside Boston, Seattle, Los Angeles and a deep bench of smaller hubs. The deepest late-stage capital and the biggest acquirers sit here.

Europe and Asia

Europe's funding is spread across London, Paris, Berlin, the Nordics and a dense network of smaller ecosystems, and has grown faster than the US in percentage terms from a smaller base. China, India, Singapore and Israel anchor Asia and the Middle East, though disclosed rounds often understate capital deployed through state-backed and strategic investors.

The rest of the world

Latin America, Africa and the rest of Asia-Pacific contribute a growing share, led by a few breakout hubs. Coverage outside the major markets is partial, so headline totals there should be read as a floor rather than a full picture.

Top countries

United States leads global Startups worldwide funding at $545.0B, followed by China ($64.8B). The chart ranks the top countries; alongside it, the leading Bay Area metro region leads the city ranking with $390.3B. Use the metric pills, and the dropdown, to switch view. The VC dropdown also covers the fastest-growing hubs (Singapore up +156%) and where Startups worldwide venture capital and unicorns concentrate against the rest of the world.

Top metro regions

Startups worldwide venture capital by metro · Last 12 months to end of Q2 2026

  1. 1Bay AreaUnited States$390.3B
  2. 2New York CityUnited States$42.9B
  3. 3LondonUnited Kingdom$26.2B
  4. 4Los AngelesUnited States$21.0B
  5. 5BostonUnited States$16.4B
  6. 6BeijingChina$11.7B
  7. 7ShanghaiChina$9.1B
  8. 8AustinUnited States$8.8B
  9. 9ParisFrance$8.5B
  10. 10BengaluruIndia$6.2B
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Top metro regions

Startups worldwide venture capital by metro · Full year 2025

  1. 1Bay AreaUnited States$156.8B
  2. 2New York CityUnited States$34.5B
  3. 3LondonUnited Kingdom$18.5B
  4. 4Los AngelesUnited States$16.6B
  5. 5BostonUnited States$14.1B
  6. 6TokyoJapan$9.0B
  7. 7AustinUnited States$8.2B
  8. 8SeattleUnited States$6.7B
  9. 9SeoulSouth Korea$6.7B
  10. 10ParisFrance$6.4B
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Top metro regions

Startups worldwide venture capital by metro · Q2 2026

  1. 1Bay AreaUnited States$97.4B
  2. 2New York CityUnited States$11.8B
  3. 3Los AngelesUnited States$8.6B
  4. 4LondonUnited Kingdom$8.4B
  5. 5ShanghaiChina$4.7B
  6. 6BostonUnited States$4.2B
  7. 7BeijingChina$4.0B
  8. 8StockholmSweden$2.6B
  9. 9BengaluruIndia$2.3B
  10. 10AtlantaUnited States$2.0B
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Top metro regions

Startups worldwide enterprise value by metro

  1. 1Bay AreaUnited States$20.1T
  2. 2SeattleUnited States$3.1T
  3. 3AustinUnited States$2.1T
  4. 4BeijingChina$2.0T
  5. 5New York CityUnited States$1.7T
  6. 6BostonUnited States$1.0T
  7. 7ShanghaiChina$1.0T
  8. 8Los AngelesUnited States$748.6B
  9. 9LondonUnited Kingdom$656.0B
  10. 10MiamiUnited States$530.4B
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Top metro regions

Startups worldwide unicorns by metro

  1. 1Bay AreaUnited States842
  2. 2New York CityUnited States322
  3. 3BostonUnited States210
  4. 4BeijingChina170
  5. 5LondonUnited Kingdom157
  6. 6Los AngelesUnited States153
  7. 7ShanghaiChina129
  8. 8Tel AvivIsrael119
  9. 9SeattleUnited States68
  10. 10San DiegoUnited States64
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Top metro regions

Global VC growth by metro · Last 12 months to end of Q2 2026 vs 2025

  1. 1DetroitUnited States+494%
  2. 2Rotterdam - The HagueNetherlands+283%
  3. 3FrankfurtGermany+280%
  4. 4Buenos Aires+224%
  5. 5Abu DhabiUnited Arab Emirates+198%
  6. 6ViennaAustria+152%
  7. 7Bay AreaUnited States+149%
  8. 8ShanghaiChina+147%
  9. 9AtlantaUnited States+137%
  10. 10EindhovenNetherlands+129%

Top metro regions

Global VC concentration by metro · Last 12 months to end of Q2 2026

  1. 1Bay AreaUnited States1.02×
  2. 2BeijingChina1.01×
  3. 3ShanghaiChina1.01×
  4. 4AustinUnited States1.01×
  5. 5ParisFrance1.01×
  6. 6Los AngelesUnited States1.01×
  7. 7San DiegoUnited States1.01×
  8. 8DenverUnited States1.01×
  9. 9SeattleUnited States1.01×
  10. 10Tel AvivIsrael1.01×

Top metro regions

Global unicorn concentration by metro · by HQ

  1. 1LondonUnited Kingdom1.00×
  2. 2ManchesterUnited Kingdom1.00×
  3. 3Cambridge (UK)United Kingdom1.00×
  4. 4OxfordUnited Kingdom1.00×
  5. 5MilanItaly1.00×
  6. 6HamburgGermany1.00×
  7. 7FrankfurtGermany1.00×
  8. 8MunichGermany1.00×
  9. 9Berlin/BrandenburgGermany1.00×
  10. 10StuttgartGermany1.00×

The world on the map

Where Startups worldwide unicorns are based. Each marker is sized by the number of unicorns HQ'd in that metro. Bay Area leads at 827, followed by New York City at 316. Scroll or drag to explore, pinch with two fingers on mobile.

Notable rounds

Over the last 12 months (through Jul 2026), the largest VC rounds in Startups worldwide reveal where capital is consolidating. The table below lists the 15 biggest disclosed rounds by amount, with date, company, round type, and lead investors. Funding events without a public amount are excluded; acquisitions sit in the Unicorns & Exits section.

Biggest Global rounds · Last 12 months to end of Q2 2026 (Top 15 rounds)

DateCompanyAmountRoundLead investors
Mar 2026OpenAI$122.0BLATE VCAndreessen Horowitz, SoftBank
May 2026Anthropic$65.0BSERIES HGreenoaks Capital Partners, D1 Capital Partners
Feb 2026Anthropic$30.0BSERIES GGIC, Coatue Management
Jan 2026xAI$20.0BSERIES EMGX, Valor Equity Partners
Feb 2026Waymo$16.0BLATE VCAlphabet | Google
Sep 2025Anthropic$13.0BSERIES FFidelity Investments, Lightspeed Venture Partners
Jun 2026Prometheus$12.0BGROWTH EQUITY VCBlackRock, JPMorgan Chase & Co
Sep 2025OpenAI$10.0BLATE VCNvidia
Jun 2026DeepSeek$7.4BEARLY VCTencent
Nov 2025Prometheus$6.2BGROWTH EQUITY VCBezos Expeditions
May 2026Anduril$5.0BSERIES HThrive Capital, Andreessen Horowitz
Dec 2025Databricks$5.0BLATE VCAndreessen Horowitz, J.P. Morgan Asset Management
Jul 2025xAI$5.0BGROWTH EQUITY VCMorgan Stanley
Jan 2026DayOne$4.5BSERIES CHillhouse Capital, Coatue Management
May 2026StepFun$2.5BGROWTH EQUITY VCZTE, Shanghai Longcheer Technology
See every round in Dealroom

Biggest Global rounds · Full year 2025 (Top 15 rounds)

DateCompanyAmountRoundLead investors
Mar 2025OpenAI$40.0BLATE VCSoftBank
Sep 2025Anthropic$13.0BSERIES FICONIQ Capital, Fidelity Investments
Sep 2025OpenAI$10.0BLATE VCNvidia
Nov 2025Prometheus$6.2BGROWTH EQUITY VCBezos Expeditions
Dec 2025Databricks$5.0BLATE VCAndreessen Horowitz, J.P. Morgan Asset Management
Jul 2025xAI$5.0BGROWTH EQUITY VCMorgan Stanley
Mar 2025Anthropic$3.5BSERIES ELightspeed Venture Partners
Jan 2025Napster | Infinite Reality$3.0BLATE VCSterling Select
Jun 2025Anduril$2.5BSERIES GFounders Fund
Nov 2025Anysphere | Cursor$2.3BLATE VCAccel, Coatue Management
May 2025Acrisure$2.1BCONVERTIBLEBain Capital
Oct 2025Polymarket$2.0BGROWTH EQUITY VCIntercontinental Exchange
Sep 2025Reflection AI$2.0BSERIES BNVentures, Sequoia
Jul 2025Revolut$2.0BLATE VCMubadala Capital
Jun 2025Thinking Machines Lab$2.0BSEEDAndreessen Horowitz
See every round in Dealroom

Biggest Global rounds · Q2 2026 (Top 15 rounds)

DateCompanyAmountRoundLead investors
May 2026Anthropic$65.0BSERIES HDragoneer Investment Group, D1 Capital Partners
Jun 2026Prometheus$12.0BGROWTH EQUITY VCBlackRock, JPMorgan Chase & Co
Jun 2026DeepSeek$7.4BEARLY VCTencent
May 2026Anduril$5.0BSERIES HThrive Capital, Andreessen Horowitz
May 2026StepFun$2.5BGROWTH EQUITY VCHuaqin Communication Technology, Hong Kong Investment Corporation
May 2026Isomorphic Labs$2.1BSERIES BThrive Capital
May 2026Moonshot AI | Kimi$2.0BSERIES DLong-Z Investments
Jun 2026Stegra$1.5BGROWTH EQUITY VCHy24, Bolero
Jun 2026BaseTen$1.5BSERIES FConviction, Altimeter Capital
May 2026Mirus$1.5BLATE VCBoston Scientific
Jun 2026Neura Robotics$1.4BSERIES CQualcomm
May 2026Helsing$1.2BSERIES EDragoneer Investment Group, Lightspeed Venture Partners
Apr 2026Ineffable Intelligence$1.1BSEEDLightspeed Venture Partners, Sequoia
Jun 2026AppsFlyer$1.0BSERIES EMeta, Alphabet | Google
May 2026Cognition | Devin AI$1.0BLATE VCGeneral Catalyst, Lux Capital
See every round in Dealroom

Source: Dealroom.co · Updated 8 Jul 2026

Leading industries

Which industries pull in the most venture capital across Startups worldwide, and where does the Global punch above its weight versus the rest of the world? Use the toggle to switch between absolute VC funding and each industry's over/under-index, and to change the time window. Over the last 12 months (to end of Q2 2026), AI leads at $517.5B, and the Global over-indexes in Fashion, Health, Semiconductors, and under-indexes most in Energy, Fintech, Gaming relative to the rest of the world. Industries are tracked through Dealroom's industry tags, which overlap, a company spanning, say, AI and fintech is counted in both, so these show where capital concentrates, not a mutually exclusive split of the total.

Unicorns & exits

Startups worldwide have minted 3,942 unicorns to date. Dealroom defines a unicorn as a company that has reached a $1B+ valuation or exit (verified and manually reviewed; other lists use different criteria, this is ours). Of those, 385 are decacorns, companies at a $10B+ valuation. The ecosystem also counts 3,196 thoroughbreds: companies generating $100M+ in revenue (a separate lens from unicorns, with some overlap). The chart below shows the cumulative count climbing each year, with the line tracking new unicorns minted in that year, peaking at 876 in 2021. On exits, the sector has produced 26,441 tracked acquisitions since 2010 representing $4.2T in disclosed value. Notable acquisitions in the data include SpaceX | xAI ($85.7B, 2026), followed by Celgene ($74.0B, 2019), VMware ($61.0B, 2022).

The global startup funnel

Entrepreneurship is a power law. Of every Global startup founded, only a fraction attract venture capital, and far fewer climb each successive funding level. This funnel traces VC-backed Global startups from first cheque through to the rarest valuation outcomes. Mouth figures are annual means (2010–2024); pool stages count VC-backed companies founded since 1990 by total funding.

Loading funnel…

Fetching data.

Pool of VC-Backed Startups
$100K+ total funding

Relevant reports

In-depth Dealroom research relevant to this guide.
Yoram Wijngaarde
Curated byYoram WijngaardeFounder & CEO, Dealroom

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