Crunchbase data shows that Black founders in the U.S. have raised approximately $643 million this year, marking the highest quarterly total since 2022. At this pace, the amount already approaches 70% of last year’s full-year fundraising total, but the growth has been primarily driven by a few large transactions.
34 transactions increased the total amount.
This round of funding recovery has not been widespread. According to Crunchbase, the related capital primarily came from 34 transactions, with the most notable being SambaNova, an AI hardware company, completing a $350 million Series E round.
This was followed by a $75 million Series B funding round for sports prediction startup Noviq and a $47 million funding round for AI-powered insurance platform Harper, backed by YC. Several large deals clearly boosted the overall performance.
The overall proportion remains low.
Although $6.43 billion represents a relatively high level in recent years, it remains a small share of the overall U.S. venture capital market. During the same period, total funding for U.S. startups amounted to approximately $252 billion, with Black founders still receiving a disproportionately low share.
Crunchbase previously estimated that Black founders raised approximately $942 million in funding for the entire year of 2025, accounting for only 0.32% of the $290 billion in venture capital invested that year. This means that this year’s temporary rebound has not significantly altered the long-term trend of disproportionately low representation.
AI centralization exacerbates inequality
Gené Teare, Head of Research at Crunchbase, told TechCrunch that factors limiting funding for many Black founders still include limited access to networks, relationship-building opportunities, and early introductions.
She noted that these issues have not eased in a funding landscape in 2026 that is increasingly concentrated and clearly biased toward AI. Meanwhile, the venture capital market has weakened for multiple consecutive quarters, and the decline in funding for Black-founded companies has consistently outpaced the overall startup funding market.
Teare also noted that the industry is currently more cautious, and this sentiment may reduce investors' willingness to support first-time founders, who often include a higher proportion of founders from diverse backgrounds.