Venture capital's biggest players are going big in 2026, with General Catalyst reportedly seeking to raise $10 billion to match Thrive's record-setting fund. The firm, which has expanded beyond traditional venture into broader financial services, previously raised $8 billion in 2024. Meanwhile, Spark Capital aims to secure $3 billion for its next fund, marking a significant increase from previous raises.

This surge follows Andreessen Horowitz's $15 billion funding announcement in January and comes as venture firms sit on record dry powder. Founders Fund is also closing a $6 billion fund, according to exclusive TechCrunch reporting. The fundraising frenzy reflects investor confidence in AI startups, which continue to command record-breaking valuations despite broader market uncertainty.

With mega-funds raising billions and AI startups securing massive initial rounds, 2026 is shaping up as another banner year for venture capital. The concentration of capital among established firms with strong AI portfolios suggests the funding gap between top-tier and emerging managers may widen further.