Venture funding for Black founders remains critically low despite overall investment growth. Last year, only $942 million reached startups with Black founders, a mere 0.32% of total US venture capital. This marks one of the lowest shares in years and represents a decline of more than two-thirds from three years prior.

The funding landscape shows stark concentration, with 2026's $643 million raised by Black founders coming from just 34 deals. The $350 million Series E raised by AI chip startup SambaNova accounted for over half of this total. This pattern mirrors 2025 when funding was similarly concentrated in a few large rounds despite the AI funding boom.

Henri Pierre-Jacques of Harlem Capital observes the decline coincides with a political shift, noting fewer conversations about diversity in venture capital. As TenYour founder Joah Spearman states, "rather than looking back, I'd recommend we collectively continue to push forward to envision and co-create the world we want."