Global venture capital investment climbed 18 per cent in the first half of 2026 compared to the same period last year, reaching $178 billion across more than 15,000 deals, according to preliminary data from PitchBook and Crunchbase.
The rebound marks the strongest six-month period for startup funding since the post-pandemic market correction of 2023, with enterprise artificial intelligence companies capturing the largest share of new investment. Enterprise AI startups alone accounted for $42 billion, nearly a quarter of all venture capital deployed globally during the period. Notable rounds included a $2.4 billion raise by a San Francisco-based AI infrastructure company and a $1.8 billion round for a European foundation model developer.
The recovery in venture funding has not been evenly distributed. While AI, climate technology, and defence technology have drawn enthusiastic support from investors, consumer-facing startups and direct-to-consumer e-commerce businesses continue to struggle. Quarterly deal volumes in those categories remain roughly 30 per cent below their 2021 peaks.
Geographically, North America still dominates with 52 per cent of global venture capital, though its share has declined slightly from 56 per cent two years ago. Asia’s share has held steady at 24 per cent, while Europe has gained ground to 18 per cent, driven by strength in London, Paris, and Berlin. The increasing geographical diversification is one of the few structural shifts that analysts believe is likely to persist regardless of short-term market cycles, as talent and entrepreneurial ecosystems mature in more regions around the world.