KPMG's Venture Pulse names PitchBook only inside the report

The record

KPMG Private Enterprise publishes Venture Pulse, a quarterly report on global venture funding, alongside a companion Pulse of Fintech series. The current global edition, Venture Pulse Q2 2026, opens with a welcome message dated 15 July 2026 and reports that global VC investment reached $227.4 billion in the second quarter, down from a record $332.9 billion in the first, with the Americas, Asia and Europe broken out separately. Every chart in the PDF carries the same source line, naming KPMG Private Enterprise's analysis of PitchBook data as of 30 June 2026 and noting the underlying figures remain "subject to final internal validation."

What the sources establish

That source line is the only place PitchBook is named. The KPMG Private Enterprise hub page for Venture Pulse, current as of this retrieval, presents the same Q2'26 figures with regional links for the United States, Americas, Europe, Asia and Africa, but its visible text never names a data vendor; it reads as a KPMG report on its face. A separate US edition page, reporting full-year 2025 US investment of $339.4 billion, is equally silent on sourcing. The distinction the report itself draws -- KPMG's own commentary layered on a named third party's proprietary dataset -- is legible only inside the PDF's fine print, not on the pages a reader is more likely to open first.

Scope and revision

The PDF's source line also carries a revision caveat most quarterly database releases do not spell out this plainly: PitchBook data behind a just-closed quarter awaits "final internal validation" before publication, meaning the same quarter's figure can move between this release and the next. KPMG's total for a given quarter is therefore neither a KPMG-collected census nor a fully settled PitchBook figure -- it is KPMG's read of a PitchBook snapshot taken at a stated date, ahead of PitchBook's own later revisions. A KPMG total and a separately published PitchBook-branded total for the same quarter are not guaranteed to match even though they share a data source, because they may be pulled at different points in that revision cycle.

The decision in front of you

Editorially: when citing a Venture Pulse figure, name both KPMG Private Enterprise and the underlying PitchBook as-of date from the PDF's own source line, not just "KPMG." Do not reconcile a Venture Pulse total against a differently dated PitchBook release without checking both as-of dates first.

• Is the figure being quoted from the PDF's sourced data, or from a webpage that omits the sourcing line entirely?
• What is the PitchBook as-of date printed on that specific chart, and has a later Venture Pulse edition restated it?
• Is a KPMG-quarter total being compared against a same-quarter figure pulled from PitchBook at a different point in its validation cycle?

Venture Pulse is best read as two products stacked together: a professional-services firm's commentary, and a data provider's proprietary, still-revisable snapshot -- with only the PDF making that stack visible.