Last month, news broke that New York’s hottest venture firm, Thrive, raised ten billion dollars for a new fund. That fund was its largest ever, doubling the size of its previous one. Now, another big-name venture firm is attempting to equal that raise. According to unnamed sources speaking to Bloomberg, General Catalyst is in talks to raise ten billion dollars. This firm, which has recast itself as a broader financial services company, raised eight billion dollars just a couple of years ago in 2024.
Meanwhile, sources tell The Information that Spark Capital is trying to raise three billion dollars. This would also represent a big boost from its previous funds. Additionally, as TechCrunch exclusively reported, Founders Fund is about to close a new six billion dollar fund. All of this follows Andreessen Horowitz’s announcement of fifteen billion dollars in new funding back in January.
Venture firms were already sitting on a record amount of dry powder, meaning money available but not yet invested, at the end of 2025. This is according to the year-end report by PitchBook and the National Venture Capital Association. But 2026 is already shaping up to be a year of bigger and more, at least for venture firms with name recognition and enviable portfolios.
The obvious prediction is that venture capitalists have plenty of money to keep fueling seed-stage AI startups with huge initial rounds and valuations. Record-breaking funding rounds for startups, as long as they are focused on AI, will likely continue to be the new normal for 2026.