Equity-like structures continued to dominate

H1 investment volume by security family, 2025 versus 2026

INVESTMENT VOLUME

Equity-like securities remained the dominant destination for reported investment activity.

Hover for exact values. With the chart focused, use left and right arrow keys to inspect points.

View the chart data

Period or category	H1 2025	H1 2026	YoY change
Equity-like	$485.1M	$351.5M	↓ 27.5%
Debt-like	$21.0M	$13.5M	↓ 35.8%

Lens: INVESTMENT VOLUME (FLOW). Source: Kingscrowd data. Generated 2026-07-18. Investment volume is gross activity recorded by date and may include commitments later revised, canceled, refunded, or reclassified. SAFEs and convertible notes are equity-like; debt and revenue share are debt-like.