CB Insights – State of Venture, Q3 2025

Summary

The main theme of the report is the analysis of global data and trends in venture financing, deals, and exits of private companies.

Key findings include that AI startups attracted 51% of total venture financing in 2025, with the US leading AI growth, receiving 85% of global AI financing and 53% of deals in 2025. Venture capital funding exceeded $90B for the fourth consecutive quarter, reaching $95.6B in Q3'25. Decacorns (companies valued at $10B or more) raised a record $94.5B. M&A deals increased by 8% QoQ to 2,324, and IPO activity rose by 45% to 138.

Region: Global

Published: October 2025

Author(s): CB Insights

Language: English

Tech drivers: AI Mobile

Geopolitical drivers: Economic conditions Political instability and conflicts Regulatory changes Workforce availability

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