According to a recent LinkedIn post from Moonfare, venture capital activity in private markets appears highly concentrated around a small group of large artificial intelligence and technology companies. The post cites Financial Times data indicating that U.S. private companies raised more than $200 billion in the first two months of 2026, with over half reportedly going to OpenAI and just 10 deals accounting for more than 80% of total fundraising.
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The post highlights an emerging group of private firms valued above $100 billion, including SpaceX, OpenAI, Anthropic, Stripe, Databricks and Waymo, with Anduril Industries and Cursor vying for a comparable position through new funding rounds. This framing suggests a bifurcated venture landscape in which capital is flowing disproportionately to perceived AI and tech leaders, while the broader start-up market continues to face tighter financing conditions and greater reliance on acquisitions for exits.
For investors, the post implies that the current recovery in private markets may be narrow rather than broad-based, concentrating opportunity and risk in a handful of very large late-stage names. It also points to a potentially challenging environment for smaller and mid-sized private companies, which could affect portfolio diversification, exit timelines and valuations in generalist venture and growth-equity strategies that are not heavily exposed to this emerging “magnificent seven” cohort.