Startup and Venture Investment News – Wednesday, February 11, 2026: The Return of Mega Funds, Record AI Deals, IPO Revival, Major M&A Transactions, and Market Trends
The venture capital market enters 2026 with signs of revival and new records. By mid-February, several landmark events have occurred: the largest investment funds are again attracting colossal sums, AI startups are setting funding round records, the window for initial public offerings (IPOs) is beginning to open, and mergers and acquisitions are gaining momentum. Simultaneously, investors are focusing on promising areas—ranging from AI and defense technologies to sustainable "green" projects. Let's take a closer look at key trends and startup and venture investment news as of this date.
The Return of Mega Funds to the Venture Market
Following a period of relative calm in 2025, venture mega funds are back in action. The largest investors are demonstrating their ability to attract record amounts of capital. A significant event has been the announcement of a new funding round by Andreessen Horowitz (a16z)—the firm has closed funds totaling over $15 billion, focused on scaling startups, artificial intelligence, and strategic sectors. This fundraising occurs less than two years after the previous round, demonstrating that limited partners (LPs) are still willing to invest in top-tier venture teams. Despite the challenges of recent years and a decrease in the number of new funds in 2025, major players like a16z, Sequoia, and others continue to attract mega-sized capital. The return of mega funds signals a restoration of confidence in the venture market and a readiness to finance new groundbreaking projects.
Record Venture Rounds in AI
The artificial intelligence (AI) sector continues to attract the lion's share of investments, setting new records in startup funding volumes. The largest deals at the beginning of 2026 have been for AI companies, demonstrating that investors are ready to commit substantial amounts to industry leaders. Some of the most notable rounds include:
- Waymo (self-driving cars, USA) – raised approximately $16 billion in new funding with a valuation of about $126 billion. The round was led by Dragoneer, DST Global, and Sequoia Capital; the startup plans to expand into new markets (announcing entry into 20 cities worldwide, including Tokyo and London).
- Cerebras Systems (AI processors, USA) – received $1 billion in a Series H round, with the company's valuation reaching about $23 billion. The funding was led by Tiger Global.
- ElevenLabs (generative audio AI, USA) – attracted $500 million in a Series D round, with a valuation of approximately $11 billion. The round was led by Sequoia Capital; the company reports rapid revenue growth due to demand for AI-generated speech.
These record investments underscore investors' appetite for companies leading the AI technology race. Notably, it's not just American startups receiving support—similar trends are observed globally. For example, the Japanese conglomerate SoftBank has bet on AI model developer OpenAI: in December, SoftBank invested over $40 billion for about 11% of the company, and early in 2026, plans were announced to invest an additional up to $30 billion in a potential mega-round, which could boost OpenAI's valuation to an astonishing $800+ billion. Thus, major investors are essentially going "all in" on AI. Corporations are also active: compared to last year, corporate investment in AI startups has almost doubled. It is clear that artificial intelligence remains a focal point for venture capital, with select companies in this sector attracting unprecedented sums.
Revival of the IPO Market
After a prolonged downturn in the public offerings market, tech companies are once again preparing to go public. Experts are discussing an IPO revival: investment banks and analysts are forecasting a surge in large listings in 2026. For instance, Goldman Sachs estimates that the total amount raised through IPOs in the U.S. market could reach a record $150-160 billion if the most anticipated "unicorns" go public this year. The list of potential debutants is impressive. First and foremost is SpaceX led by Elon Musk: the space company, which recently merged with his AI startup xAI, is preparing for an IPO expected in mid-2026, which could value the combined business at over $1.5 trillion. If SpaceX raises over $25 billion in the public market, it will become the largest IPO in world history, surpassing the record held by Saudi Aramco. Also on the horizon are AI giants. OpenAI, according to insiders, is exploring the possibility of an IPO by the end of 2026 with a target valuation of around $1 trillion, although the company's management is not yet rushing to the public market. Another AI developer, Anthropic, has reportedly hired consultants to prepare for a potential listing. Additionally, IPOs from several well-known fintech and software unicorns like Stripe and Databricks are expected if market conditions are favorable. Initial signs are promising: in early February, two biotechnology companies successfully went public (raising a total of around $350 million), signaling a renewed appetite among investors for new listings. Of course, risks remain—market volatility or corrections in the tech sector could alter plans. However, the overall sentiment is positive: 2026 could mark a turning point for the IPO market after several "cold" years.
Increased M&A Activity
Major mergers and acquisitions (M&A) are once again in the spotlight as corporations seek to strengthen their positions through the acquisition of promising startups. One of the most notable events is Google's acquisition of the startup Wiz, specializing in cloud cybersecurity. Valued at around $32 billion, the deal became Google's largest acquisition in history and was approved by European Union antitrust authorities in February, confirming the absence of significant threats to competition. For Google, this move strengthens its cloud business and elevates its status in the cybersecurity elite. Another unprecedented instance is the announced merger of SpaceX and xAI led by Elon Musk. Formally, this constitutes the acquisition of the younger AI startup by the flagship SpaceX, resulting in the formation of a massive technological tandem valued at approximately $1.25 trillion ahead of its IPO. This move not only addresses financial challenges faced by xAI but also lays the groundwork for synergy between space and artificial intelligence technologies, preparing for future public offerings. Overall, the trend is clear: tech giants are actively acquiring innovative companies, solidifying their ecosystems. In addition to mega-deals, targeted acquisitions in the fintech and SaaS sectors continue, along with the acquisition of startups by major industrial players seeking new technologies. The rise in the number and scale of M&A transactions indicates a phase of market consolidation where large companies utilize accumulated capital for strategic acquisitions.
Fintech Bouncing Back from a Downturn
The financial technology (FinTech) sector, which experienced a decline in activity last year, is showing signs of recovery. In the first weeks of February 2026, fintech startups around the world raised over $1 billion.
The Geography of Venture Investments: A Global Perspective
The venture boom at the beginning of 2026 has a global character. While the largest deals are traditionally concentrated in the U.S. (Silicon Valley continues to generate the most valuable unicorns and mega rounds, as evidenced by the examples of Waymo and others), other regions are not falling behind. Europe is demonstrating its own success: only in January, at least five new "unicorns" emerged in Europe—startups valued at over $1 billion. It's noteworthy that the geography of these companies is diverse, ranging from Belgium and France to Lithuania and Ukraine. Sectors representing new European unicorns include cybersecurity, cloud services, military technologies, ESG platforms, and educational applications. The involvement of investors such as BlackRock, Temasek, and DST Global in European rounds confirms that international capital is actively entering European projects. Asia is also playing its part: in Japan and China, major conglomerates and funds are investing in AI technologies and electronics (a prominent example being SoftBank's aggressive investments in OpenAI). The Middle East is enhancing its presence through sovereign funds—such as those from Qatar and the UAE—investing hundreds of millions of dollars in Western and Asian startups. India and Southeast Asia continue to nurture their own startup ecosystems: weekly news emerge about new funding rounds for Indian tech companies, albeit on a smaller scale, indicating widespread engagement from developing markets. Overall, venture investments are spreading globally, and competition for the best deals is taking on an international dimension—capital flows wherever promising teams and technologies are, whether in Silicon Valley, London, Tel Aviv, or Bangalore.
A Focus on AI and Defense Technologies
Analyzing overall trends, a clear focus of investors on artificial intelligence and defense technologies emerges. The rapid integration of AI across all industries has led to virtually every major fund developing a strategy to increase investments in AI startups. Simultaneously, heightened geopolitical tensions and technological rivalry among nations (primarily between the U.S. and China) have brought defense and dual-use technologies to the forefront. In the U.S., the launch of venture funds oriented towards national security and critical technologies (such as a16z allocating over $1 billion to the American Dynamism fund, which invests in defense, equipment, infrastructure, etc.) reflects a governmental priority to maintain technological leadership. Similarly in Europe, the French startup Harmattan AI, which develops autonomous drones, raised $200 million with backing from aerospace giant Dassault Aviation and contracts with the Ministry of Defense—an illustrative example of the synergy between the defense sector and venture capital. In general, defense startups, cybersecurity, and intelligence technologies are now being actively funded not only by the government but also by private investors who recognize the growing demand for these solutions. The AI and defense sectors are increasingly intersecting—from AI-based spacecraft to analytical systems for military applications—creating a new niche for venture growth. It can be expected that in 2026, the share of transactions in these fields will continue to rise, supported by both private and public capital.
Sustainable Development and Green Investments
Despite the buzz around high technologies, the agenda of sustainable development (ESG) remains in focus. Climate and environmental startups continue to attract funding, albeit less conspicuously compared to AI deals. For the year 2025, the total global investment volume in climate technology even increased by several percent (to ~$40 billion), despite an overall decline in the number of transactions—a sign that investors are looking to the long term and not retreating from support for "green" innovations. In Europe, tightening regulations in the sustainability field are stimulating demand for relevant solutions: a notable case is the transformation of the German ESG platform Osapiens into a "unicorn" after raising $100 million at a valuation of $1.1 billion, backed by funds created by giants like BlackRock and Temasek, aimed at decarbonization. Worldwide, new technologies in clean energy, emissions management, electric mobility, and waste recycling are being developed, and venture capital is actively financing these directions. Large manufacturing and energy corporations are also investing in "green" startups or launching corporate venture divisions to seek sustainable solutions. Thus, themes of ecology, social responsibility, and corporate governance continue to influence investment decisions. In 2026, sustainability expectations will become an integral part of the strategy of many funds, and startups offering climate innovations can expect steady interest from both specialized impact funds and multi-sector investors.
The Role of Corporate Investors
A notable trend in the current period is the increased role of corporate venture capital in the startup scene. Corporations and industry giants are increasingly taking on the role of investors or acquirers of technology companies. January 2026 marked a record month for corporate investments: according to analysts' estimates, corporate venture units of global companies participated in deals totaling over $37 billion in just one month, marking the highest level in the past two years. There is observed a surge in large rounds: January saw a record number of rounds of $100 million+ involving corporations. Corporates are particularly interested in AI startups (the number of corporate-backed deals in AI has nearly doubled compared to last year) and robotics/drones. Traditional companies see in startups not just financial returns but also strategic opportunities—from integrating innovations into their own businesses to outpacing competitors. We see this trend across all sectors: financial institutions are opening venture funds to invest in fintech and blockchain, auto manufacturers are acquiring startups in electric vehicles and batteries, oil and gas giants are investing in renewable energy, and IT corporations are targeting cloud services and cybersecurity (as highlighted by Google's acquisition of Wiz). New players are also emerging: well-known entrepreneurs and media personalities are entering the venture acquisition game through their companies. For instance, in February it was announced that the media business of famous blogger MrBeast is acquiring fintech startup Step—an unconventional example showing that the venture market attracts diverse types of investors. Consequently, the merger of traditional business and the startup industry is strengthening. For startups, corporate investors mean not only capital but also access to resources, expertise, and large customer bases. In 2026, further growth in corporate venture capital is expected: companies have substantial cash reserves and are searching for ways to remain at the technological forefront, so they will continue to actively invest in promising projects or acquire them.
Conclusions and Outlook. The beginning of 2026 instills cautious optimism in the venture community. We observe large capital returning to the market—through mega funds and enormous funding rounds—but investments have become more selective, focused on groundbreaking directions. Investors of all types—from traditional venture funds to corporations and government funds—are now competing for the best startups, particularly in the fields of artificial intelligence, defense, fintech, and sustainable development. The growing activity in the IPO front suggests that successful startups are finding the long-awaited opportunity to go public, potentially injecting additional liquidity into the ecosystem. Mergers and acquisitions indicate an ongoing restructuring of the industry as the stronger firms absorb niche players. Of course, global risks—economic conditions, regulatory constraints, geopolitical tensions—still exist. Nevertheless, the venture market greets the new year armed with lessons learned from the past downturn and is ready to finance the next wave of innovations. For venture investors and funds, on Wednesday, February 11, 2026, the main news is that the market has revived, capital is once again at work, and new deals, records, and achievements from startups around the world are on the horizon.
