Analysis
Pulse's own funding tracker shows $129.9 billion tracked across 347 startup deals over the past 17 weeks, an average deal size of $374 million.
This week's AI-infrastructure activity alone -- Crusoe's finalized Series F plus CoreWeave's combined debt-and-equity capital push -- totals nearly $10 billion, or roughly 7-8% of that entire 17-week cumulative figure packed into a single week.
“Bain Capital Ventures' fresh Fund XI this week is one of those closes.”
- Crusoe's $3.9 billion enters the tracker's top-10 individual deals at number four:
- Blue Origin -- $10B outside capital at a $130B valuation
- DeepSeek -- $7.4B
- Safe Superintelligence -- $5B from Nvidia
- Crusoe -- $3.9B at a $30.9B valuation
Separately, the tracker counts 17 VC fund closes over the same 17-week window, tracked apart from startup rounds because they represent a different capital flow -- money raised by funds to deploy later, not capital already placed into a specific company. Bain Capital Ventures' fresh Fund XI this week is one of those closes.
The pattern worth watching isn't any single number -- it's that AI-infrastructure capital and new-fund formation both accelerated in the same seven-day window, which suggests LPs and infrastructure lenders aren't pulling back on either deployment or fundraising even as questions about AI-capex sustainability get louder elsewhere in this same issue. Neither figure proves the pace is sustainable; both simply confirm it hasn't slowed yet.