Venture investors deployed $42 billion across more than 1,500 startups worldwide in August, up 122% from August 2025 though down 25% from July's $56 billion, according to Crunchbase data.
Seven companies closed billion-dollar rounds in August, the second-highest monthly count this year after July's 13, Crunchbase reported.
Databricks led the month with a $5 billion raise at a $190 billion valuation, adding $56 billion to its valuation in six months, according to Crunchbase. The other billion-dollar recipients spanned AI fine-tuning startup River AI, defense contractor Hadrian, satellite network Yuanxin Satellite, nuclear developer Valar Atomics, coding startup Poolside and home battery company Base Power.
"Venture capital continues to concentrate rapidly among a small group of fast-growing companies," Crunchbase said, noting five of the seven billion-dollar recipients had raised capital within the prior 12 months.
The money is piling onto companies that already won their last round, not spreading to find the next one. If you're raising a first or second round right now, you're competing against a market that would rather write a bigger check to Databricks.