Global Startup and Venture Investment News for 13 November 2025: New 'Unicorns', Revival of the IPO Market, and Resurgence of Crypto Startups. A Detailed Overview for Venture Investors and Funds.
By mid-November 2025, the global venture market is confidently recovering after a period of stagnation in recent years. Statistics indicate that, in the third quarter of 2025, global venture investment volumes reached approximately $97 billion (nearly 40% higher than the previous year) – the best quarterly performance since 2021, marking the fourth consecutive quarter of growth following the 'venture winter' of 2022-2023. Investors worldwide are once again actively financing technology startups: record deals are being conducted, new IPOs are being planned, and major funds are bringing fresh capital to the market. Governments across various countries are also increasing their support for innovation, further stimulating private investment inflows into the startup ecosystem.
Venture activity is rising across all regions. The United States continues to lead, generating about 60% of global investments (particularly strong funding is going into artificial intelligence projects). In the Middle East, investment volumes have nearly doubled over the past year, forming new tech hubs with the support of sovereign funds. Europe is also witnessing a resurgence: following recent periods, Germany has for the first time surpassed the UK in attracting venture capital. India and Southeast Asia are attracting record capital flows amid a relative decline in activity in China. The startup scenes in Russia and other CIS countries are also striving to keep pace – new funds and programmes are being launched in the region despite sanctions and other limitations. Overall, the market is experiencing a global venture boom, although investors remain selective and cautious in their project choices.
Below are the key events and trends shaping the current venture market discourse as of 13 November 2025:
- Return of Mega Funds and Large Investors. Leading venture players are raising record funds and are once again actively investing in startups, saturating the market with capital and enhancing risk appetite.
- Record Investments in AI and a New Wave of 'Unicorns'. Unprecedented financing rounds are elevating startup valuations to unseen heights, particularly in artificial intelligence, resulting in a multitude of new 'unicorns' emerging.
- Revival of the IPO Market. Successful public offerings by technology companies and new listing plans affirm that the long-awaited 'window' for exits has reopened for venture investors.
- Sector Diversification: Beyond AI. Venture capital investments are being directed not only into AI but also into fintech, climate projects, biotechnology, space, and defence technologies – the investment focus is broadening.
- Consolidation Wave and M&A Activity. Major mergers, acquisitions, and strategic deals are reshaping the industry landscape, creating new opportunities for exits and accelerated company growth.
- Renewed Interest in Crypto Startups. Following an extended 'crypto winter', blockchain projects are once again attracting significant funding and attention from venture funds and large corporations.
- Local Focus: Russia and the CIS. New funds and initiatives are emerging in the region to develop local startup ecosystems, gradually attracting investor interest despite sanctions and limitations.
Return of Mega Funds: Big Money Back in the Market
The largest investment funds and institutional players are confidently returning to the venture arena, signalling a renewed appetite for risk. Following a decline in VC fundraising during 2022-2024, leading firms are resuming capital raising and launching new mega funds, demonstrating faith in market potential. For instance, the Japanese conglomerate SoftBank, after a pause, announced the launch of its Vision Fund III, amounting to around $40 billion, targeting advanced technologies (AI, robotics, etc.). In the US, Andreessen Horowitz is attracting a record fund of approximately $20 billion, marking the largest in its history and one of the largest in the industry, with a focus on late-stage AI startups. Additionally, Silicon Valley giant Sequoia Capital recently announced two new venture funds with a combined volume of about $950 million.
Activity has also surged among sovereign funds from Gulf countries: Middle Eastern states are pouring billions of dollars into high-tech projects globally and launching large-scale government programmes to support the startup sector. Simultaneously, dozens of new venture funds are emerging across all regions, attracting significant institutional capital for investments in technology companies. The return of such 'megafunds' indicates that startups will soon have even more opportunities to secure funding, while competition among investors for the best projects intensifies.
Record Investments in AI: A New Wave of Unicorns
The artificial intelligence sector remains the primary driver of the current venture boom, demonstrating record funding volumes. It is estimated that about half of all venture investments in 2025 are directed towards AI startups, with global investments in AI likely to exceed $200 billion by the end of the year – an unprecedented level for the industry. In the United States alone, since the beginning of 2025, AI projects have received up to two-thirds of all venture capital. The combined valuation of the ten largest companies in the AI sector has already approached $1 trillion. Investors attribute the excitement to the promise of artificial intelligence technology to radically enhance efficiency across various sectors and unlock multi-trillion-dollar markets – from business automation to personal digital assistants. Despite warnings from experts about a potential 'bubble', funds continue to increase their investments, fearing they might miss the next technological revolution.
It is not surprising that the inflow of capital into AI is accompanied by the emergence of numerous new 'unicorns' and the concentration of funds among leaders. Currently, about 70% of all venture investments in the United States are flowing to a select few companies leading the AI race. For example, the French startup Mistral AI raised about $2 billion in September (a record round for Europe), while the American OpenAI previously secured a one-off investment of $13 billion – an unprecedented deal that skyrocketed the company's valuation to astronomical heights. Such mega rounds inflate startup valuations but simultaneously concentrate resources and talent in promising directions, laying the groundwork for future breakthroughs.
In recent weeks, several companies have announced significant investments, confirming the return of 'big cheques' to the market. Notable examples include:
- Synthesia (UK) – $200 million at a valuation of approximately $4 billion for the development of an AI video generation service (the round was led by the VC fund GV from Alphabet).
- Fireworks AI (US) – $250 million in round C (valuation around $4 billion) for scaling an AI platform in genomics and healthcare.
- Armis (US) – $435 million in a pre-IPO round at a valuation of $6.1 billion to bolster its IoT cybersecurity platform (lead investors include Goldman Sachs along with CapitalG).
Revival of the IPO Market and Exit Prospects
Against the backdrop of rising valuations and influx of capital, technology companies are once again actively preparing to go public. After nearly two years of stagnation, there has been a long-awaited surge in IPOs as the primary exit strategy for venture funds. Several high-profile listings have confirmed the opening of a 'window' of opportunities: for instance, the American fintech unicorn Circle successfully conducted its IPO with a valuation of approximately $7 billion – this debut restored investors’ confidence in the market's appetite for new technology issuers. Following this, several large private companies are eager to take advantage of the favourable conditions. Insider information suggests that OpenAI, the creator of ChatGPT, is considering an IPO in 2026 with a potential valuation of up to $1 trillion, which would be unprecedented for the industry. The blockchain company ConsenSys (developer of the MetaMask wallet) is also preparing for a listing in 2026.
The improvement in market conditions and the gradual easing of regulatory uncertainty (e.g., the approval of stablecoin regulations and the prospects for Bitcoin ETFs) are providing startups with confidence that the public market has once again become a viable mechanism for attracting capital and an exit route for investors. Analysts predict that the number of high-profile technology IPOs will increase over the next couple of years – provided that strong demand from institutional investors for new placements remains. The return of successful IPOs is critically important for the venture ecosystem: profitable exits allow funds to realise returns and direct freed-up capital into new projects, completing the cycle of venture investing.
Sectors Diversification: Beyond AI
In 2025, venture investments are encompassing a significantly broader range of sectors and are no longer limited to artificial intelligence alone. Following last year’s downturn, the fintech sector is experiencing a revival: large funding rounds are occurring not only in the US but also in Europe and emerging markets, fueling growth in promising financial services. Climate projects are also actively attracting capital: for example, the Australian startup Uluu raised 16 million Australian dollars for the development of biodegradable plastic from seaweed – a case in point for the global trend towards sustainable technologies. Interest in space and defence technologies is increasing: Bulgarian company EnduroSat raised $104 million for the production of small communication satellites, while American defence startup Anduril Industries secured $2.5 billion in investments mid-year, doubling its valuation to $30 billion.
Appetite for biotechnology and medtech is also returning: new developments in pharmaceuticals and digital health are once again attracting capital as the industry recovers from valuation corrections. Notably, the healthcare sector emerged as the third largest in terms of venture investment volumes (approximately $15-16 billion) by the end of the third quarter. A recent example is the American startup Forward Health, which operates in preventive medicine: the company raised $225 million in round D (investors include SoftBank and Founders Fund), elevating its valuation above $1 billion and earning 'unicorn' status. Additionally, buoyed by increased attention towards safety, investors are backing defence-tech projects, while a partial restoration of trust in the cryptocurrency industry has allowed some blockchain startups to begin attracting funding again. The broadening of sectoral focus is making the startup ecosystem more resilient and reducing the risk of overheating in specific segments.
Consolidation and M&A Transactions: Scaling Up Players
High startup valuations and fierce competition are prompting a new wave of consolidation in the industry. Large mergers and acquisitions are once again coming to the forefront, reshaping the balance of power in the markets. In October, American investment bank Goldman Sachs announced the acquisition of venture firm Industry Ventures for approximately $1 billion – one of the largest deals of the year within the venture sector, reflecting the increasing interest of bank capital in technology assets. Tech giants are also renewing their activity: aiming to acquire key technologies and talent, corporations are buying up promising AI and cybersecurity startups. A notable example is Google's acquisition of Israeli cybersecurity developer Wiz for approximately $32 billion, a record sum for a deal in the Israeli technology sector.
Consolidation is also impacting the crypto industry. According to industry sources, payment giant Mastercard is close to acquiring a blockchain infrastructure startup (a provider of stablecoin technologies) for an amount up to $2 billion. This move would mark one of Mastercard's largest investments in the realm of digital assets and underscores traditional financial firms' efforts to solidify their presence in the cryptocurrency market. Overall, the increase in the number of M&A transactions suggests the maturation of the startup ecosystem: more mature companies are merging or being acquired by major players, while venture investors are gaining long-awaited opportunities for profitable exits.
Renewed Interest in Crypto Startups
After a prolonged downturn during the 'crypto winter', the market for blockchain startups is noticeably reviving: venture investments in the cryptocurrency sector are once again on the rise. In October 2025, funding for cryptocurrency projects sharply increased thanks to several large rounds. American project Polymarket led the way, raising a record $2 billion (valued at around $9 billion) – one of the largest venture deals of the year outside the AI field. Infrastructure solutions for digital assets are also beginning to receive support from funds. For instance, American startup Hercle, developing a stablecoin issuance platform, secured approximately $60 million in funding.
Simultaneously, the cryptocurrency market is becoming more mature – institutional investors are returning to the sphere of digital assets. The easing of regulatory uncertainty (e.g., the emergence of clear rules for stablecoins and the prospect of approving exchange-traded crypto ETFs) coupled with the involvement of financial giants in funding the sector is supporting the capital inflow. Crypto startups that have survived the purge of speculative projects are gradually restoring trust and once again attracting the attention of venture funds and corporations.
Local Market: Russia and the CIS
In Russia and neighbouring countries, the startup ecosystem is also seeking to develop amid a global upturn. Over the past year, several new venture funds have emerged in the region – a portion of local capital has begun to flow into the technology sector. Government institutions and major corporations have activated support programmes: new accelerators, thematic funds, and grant competitions for innovative projects have been launched. Although the total volume of venture investments in Russia and the CIS remains relatively small, and serious barriers persist (high interest rates, sanctions, etc.), the most resilient startups continue to attract funding and grow, focusing on local market niches. The gradual formation of their own venture infrastructure creates a foundation for the future – by the time external conditions improve and global investors can once again engage more actively with the region.
Conclusion: Cautious Optimism
Cautious optimism has taken hold in the venture industry. On one hand, the rapid growth of valuations – especially in the AI segment – is reminiscent of the dot-com boom and raises warnings about potential market overheating. On the other hand, the current excitement is concentrating enormous resources and talents in new technologies, laying the groundwork for future innovative breakthroughs. As the end of 2025 approaches, it has become evident that the startup market has revived: record funding levels are being reported, high-profile IPOs are on the horizon, and funds are assembling unprecedented pools of capital for investments. At the same time, investors have become more discerning, directing funds primarily towards the most promising projects with clear business models.
The main question for the future is whether the high expectations surrounding the AI boom will be justified and whether other sectors can catch up with its attractiveness for capital. For now, however, the appetite for innovation remains high, and market participants are looking ahead with tempered enthusiasm, hoping for further balanced growth in the venture ecosystem.
