The H1 launch pipeline contracted again

Distinct Reg CF and Reg A+ raise records with H1 start dates, 2020 to 2026

LAUNCHES

Reg CF launches fell from 564 in H1 2025 to 388 in H1 2026, a 31.2% decline.

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Period or category	Reg CF	Reg A+
2020	431	22
2021	694	43
2022	702	40
2023	742	33
2024	696	19
2025	564	27
2026	388	20

Lens: LAUNCHES (LAUNCH). Source: Kingscrowd data. Generated 2026-07-20. Counts use recorded start dates as the launch proxy and exclude documented duplicate or replacement records.