This report provides a quarterly analysis of major trends, opportunities, and challenges in the global venture capital market.
The year 2025 was marked by geopolitical tensions, evolving US tariff policies, and uncertainties in global value chains. Despite these challenges, total VC investment grew significantly to over $512 billion, driven largely by AI investments. The report highlights record-breaking funding rounds in Q3 and continued strong investments in AI companies in Q4. The Americas, especially the US, led VC investments, followed by Europe and growing activity in Asia. Looking ahead to 2026, cautious optimism surrounds increased M&A and IPO exits, with AI expected to remain the largest focus of VC funding globally.