PitchBook
Coverage of PitchBook in the Nexus archive.
- In 2026 so far, U.S. VCs have deployed a record-shattering $412.7 billion. Almost none of it is trickling down.
U.S. venture capitalists deployed a record $412.7 billion in the first half of 2026, with 86% of funds directed to AI deals and 91% allocated to deals of $100 million or more. SpaceX dominated exit value, accounting for nearly all $2.2 trillion in liquidity through its IPO and related ventures.
- The defense tech boom has become a bubble—or it will be soon
Defense tech has shifted from a contentious niche in Silicon Valley to a booming investment area, with startups like Anduril, Saronic, and Shield AI securing high valuations. Venture capital funding for defense tech surged to $19.8 billion in Q1 2026, raising concerns about a potential bubble, as acknowledged by Anduril CEO Brian Schimpf.
- Why BlackRock, Nvidia, and Temasek are betting billions on quantum computing
VC investment in quantum computing reached $3.9 billion in 2025, driven by major players like BlackRock, Nvidia, and Temasek. Companies such as Quantinuum and PsiQuantum secured significant funding, while global governments, including China, have allocated over $60 billion to quantum initiatives. The sector remains speculative, with practical quantum breakthroughs expected by the end of the decade.
- Steve Case: America was built by entrepreneurs. Here’s how we keep that edge for the next 250 years
Steve Case argues that America's entrepreneurial spirit is key to maintaining its competitive edge, emphasizing the need to expand opportunities beyond concentrated tech hubs like New York, Massachusetts, and California. He highlights companies such as Tempus, Hermeus, CAVA, and Anduril as examples of innovation in overlooked cities, supported by Revolution’s Rise of the Rest initiative.
- 'It's harder than ever to raise a fund.' Here's one emerging manager's advice.
Venture capitalist Nisha Dua highlights the increasing difficulty for emerging managers to raise funds as capital consolidates around established firms. She advises focusing on a clear thesis and positioning, citing BBG Ventures' success with diverse founders and early investments in companies like Spring Health and Starface.
- SpaceX is about to make history—and 80% of VCs won’t see a dime of it
SpaceX is set to go public with a valuation between $1.5 trillion and $2 trillion, potentially joined by OpenAI and Anthropic in a combined $5 trillion market event. However, only 20% of active venture capitalists (700 out of 3,500–4,000) are invested in these companies, meaning 80% will not benefit from the liquidity. Industry experts note the event may not rescue venture capital as a whole due to the concentrated access of top-tier investors.
- At a NATO range in Latvia, hits and misses mark Europe’s counter-drone journey
NATO tested counter-drone technologies at a range in Latvia, showcasing mixed results from European startups like Eraser and Nordic Air Defense. The demonstrations highlighted challenges in reliably intercepting drones, driven by urgent threats from Ukraine and Russia's drone warfare, while emphasizing the need for cost-effective solutions.
- Tech private equity is "frozen"
Tech private equity has slowed down significantly with only $9.3 billion of global tech buyout value in April and May 2026 combined, compared to $52.6 billion in March alone. The market is paralyzed by AI-driven uncertainties and a sudden draining of private credit market liquidity. This slowdown may continue until the market digests more quarters of data.