TL;DR
March venture capital funding is tracking at $13 billion — down from $174 billion in February's AI megaround-inflated total — and the correction is structural, not cyclical.
MSM Perspective
Crunchbase reported the data as a market update.
X Perspective
X's VC community is split between 'this is healthy normalization' and 'the AI funding bubble just popped.'
Global venture capital funding in March is tracking at approximately $13 billion with three days remaining, according to Crunchbase — down from $174 billion in February, which was inflated by Anthropic's $40 billion raise and several other AI megarounds. Excluding AI megarounds, March is down 22 percent from February's underlying total of $16.7 billion. [1]
The AI funding dependency is now structural: without megarounds, the VC ecosystem's headline numbers collapse.
-- THEO KAPLAN, San Francisco