The July 2026 US Venture Capital Funding Report

US startups raised $19.44B across 492 companies in July 2026 — and the numbers tell a story of extreme concentration. Just 65 deals at $50M+ captured 81.6% of all capital raised, led by Joulent ($1.75B), Atoms ($1.70B), Fireworks AI ($1.51B), and a wave of AI infrastructure rounds that collectively pulled in more than $4.3B in a single month. AI companies across all stages accounted for 67% of total capital. The bifurcation is no longer a trend — it's the market.