Black Founders Secure $643M in 2026, Nearly Matching 2022 Record, but Gains Prove Fragile

US Black-founded startups raised $643 million in funding from January through May 2026, nearly equaling the $653 million record set in the first half of 2022, Crunchbase data released May 31 shows. The total already represents almost 70% of the $942 million Black founders secured in all of 2025. Three outsized deals drove the total: AI hardware company SambaNova’s $350 million Series E, sports prediction startup Noviq’s $75 million Series B, and AI insurance platform Harper’s $47 million round. However, the 34 deals recorded this year underscore a concentrated recovery. Black-founded startups captured just 0.25% of the $252 billion in overall US venture capital deployed during the same period. Crunchbase’s head of research Gené Teare attributed the persistent gap to limited access to networks and early introductions, particularly in an AI-centric funding market. She noted that the decline in funding to Black-founded companies has outpaced the broader venture downturn over the past eight to nine quarters. The fragile momentum reflects a bifurcated market where investors remain cautious about backing first-time, diverse founders.