Venture capital funds have shown incredible staying power, raising almost $23 billion just in the first half of this year. This surge represents the highest level of fundraising activity witnessed in over a decade, signaling renewed vigor in the venture capital landscape. Investor confidence in these funds is growing, up to 3.6 on a five-point scale.

The $23 billion raised by venture funds underscores a significant resurgence in investor interest. We haven’t experienced this kind of capital infusion in more than a decade. This unprecedented influx has the potential to usher in a golden age for VC-backed startups and young industries.

Confidence in venture funds, as measured on five-point scale, is now at 3.6. Although this is a bit below the long-term average of 3.7, it still points to a generally optimistic mood among investors. Additionally, there is a growing belief among venture funds. They are demonstrating their capacity to create returns, all while skillfully maneuvering the intricacies of today’s capital markets.

The short term average — at 3.7 — is this year’s average over the last 12 years. This historical yardstick provides useful context for interpreting today’s confidence level. It is a positive sign of stability and overall optimism with regard to venture capital investments. Throughout the ups and downs of the market, investors have shown a high level of confidence in this particular asset class.

Combined with increased fundraising and increasing confidence levels, this has the potential to drive much more investment in innovative, high-tech startups and disruptive technologies. That sudden, existing cash/investment could be a huge catalyst for innovation/development throughout all industries, spurring economic development and paving the way for new opportunities. The venture capital ecosystem seems well positioned for sustained growth and influence.