Americas: Q2’26 Venture Pulse Report

VC investment in the Americas remained robust in Q2’26, with $150.0 billion invested across 3,999 deals. While below Q1’s record high, the quarter remained well above historical norms, driven significantly by large AI funding rounds in the US.

Americas Q2'26 highlights

VC investment in the Americas reached $150.0 billion across 3,999 deals
The quarter was the Americas’ second strongest ever for VC investment
US-based AI megadeals overwhelmingly drove regional investment totals
Canada saw steady VC activity, supported by fintech, quantum and AI-related momentum
Mexico saw $441 million in VC investment, while Brazil saw $391.6 million and Latin America’s first AI unicorn

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US dominates VC investment in the Americas

The US accounted for the vast majority of VC investment in the Americas during Q2’26, attracting $144.9 billion across 3,644 deals. Canada attracted $1.5 billion in VC investment, while Mexico saw $441 million and Brazil saw $391.6 million during the quarter.

Fintech sees strong investment across the region

Fintech remained a strong sector across the Americas in Q2’26, with sizeable raises in the US, Canada and Mexico. Notable examples included Canada-based Nesto (C$302 million) and Koho (C$130 million), and Mexico-based Plata Card ($405 million).

Canada and Latin America show distinct market dynamics

Canada saw steady VC activity, supported by fintech, quantum and AI-related momentum, including Koho becoming Canada’s latest unicorn. In Latin America, Mexico was led by Plata Card’s $405 million raise, while Brazil saw renewed optimism after AI-powered legaltech Enter became Latin America’s first AI unicorn through a $100 million Series B raise that valued the company at $1.2 billion.

Sector trends highlight AI concentration and diversification

AI remained the dominant investment theme across the Americas, accounting for a disproportionate share of total capital deployed—particularly at the late stage. At the same time, investors continued to back companies across fintech, defensetech, health and biotech, quantum and energy-related sectors, reflecting an ongoing search for durable growth and resilience beyond headline AI deals.

Trends to watch for Q3’26

Heading into Q3’26, AI is expected to remain one of the strongest areas of interest for VC investors in the US and Canada, while fintech continues to drive the bulk of investment in Latin America. Exit activity will remain a key focus across the Americas, particularly as investors watch the US IPO market following SpaceX’s record-breaking IPO. Developments related to the USMCA/CUSMA review could also be important for startups in Mexico and Canada, particularly those focused on manufacturing and automotive sectors.

Venture capital in Brazil continues to move at a selective pace, but the most important signals in 2026 are qualitative: capital is returning with greater discipline, favoring business models with strong operational efficiency, proven traction and a clear path to liquidity. The next phase of the Brazilian ecosystem is likely to be driven by vertical AI solutions applied to local challenges, particularly in complex sectors such as legal, financial services, healthcare and corporate back-office.

Carolina Oliveira

Partner, KPMG Private Enterprise Leader in Brazil and South America

KPMG in Brazil