General Catalyst and a16z Top Q2 2026 Active US Investor Ranks — Capital Concentrates as SaaS Multiples Compress

Crunchbase News·low signal

Crunchbase's Q2 2026 rankings put familiar mega-funds — General Catalyst, a16z — atop active US investors by deal count and spend, even as public software trades at a discount to the S&P 500. The split matters: capital is concentrating in AI-native and agent startups while the exit/multiple environment for classic SaaS deteriorates. For builders raising in this market, the money is available but is flowing toward companies positioned as agent-native disruptors, not incremental SaaS.