BriefingAngel investment5 August 20262 min read
Seed and angel funding falls 27% — a K-shaped market
While total funding set records, the earliest stage contracted the most in years. This looks structural, not cyclical.
Around US$4.9 billion went into seed and angel rounds in the second quarter of 2026 — down 15% from the prior quarter and down 27% year over year.
“Record dollars on top, a collapsing seed market at the bottom — and growing evidence that the cause is structural rather than cyclical.”
For angel networks this is both a warning and an opening: as institutional funds retreat from the earliest stage to chase mega-rounds, the first-cheque gap widens — and that is precisely where angels hold the advantage.
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This article summarises market information and is not investment advice. Vietnam Angel Network does not provide personalised investment advice.