Nov 1, 2026
3Q26 Caplight Venture Market Update
Venture round sizes have outgrown the venture funds writing the checks. This year, startups have raised nearly $5 for every $1 raised by VC funds, the largest gap on record. Non-traditional venture investors have stepped up to fill the gap.
Find out more in our latest Venture Market Update. Highlights include:
$515B deployed into startups YTD, compared to ~$110B raised by VC funds.
Non-VC investors led ~70% of venture deal value in 2026.
Co-invests now represent 40% of Caplight trades, up from 10% in Q1.
18 companies raised $1B+ in Q3 alone, nearly matching all of 2025.