Global Startup and Venture Investment News for 29 November 2025: The Return of Mega Funds, Record Investments in AI, a Wave of New Unicorns, Revival of the IPO Market, Surge in M&A Deals, and the Formation of New Tech Hubs Worldwide. An Overview for Venture Investors and Funds.
By the end of November 2025, the global venture capital market is steadily emerging from the prolonged downturn of recent years. According to industry analysts, the total volume of venture investments in the third quarter of 2025 reached approximately $97 billion—almost 40% more than the previous year, marking the best quarterly performance since 2021. The long-lasting 'venture winter' of 2022-2023 is now behind us; the influx of private capital into tech startups is noticeably accelerating. Large funding rounds and the launch of new mega funds signal a return of investors' appetite for risk, albeit with a preferential and cautious investment approach.
Venture activity is increasing across nearly all regions of the world. The USA remains in a leading position, particularly due to the explosive growth of the AI sector. Investment volumes in the Middle East have multiplied over the past year, while in Europe, Germany has, for the first time in a decade, overtaken the UK in total venture capital. Asia exhibits heterogeneous dynamics: India, Southeast Asian countries, and Gulf States are attracting record inflows of capital amidst relative decline in activity in China. New tech hubs are emerging in Africa and Latin America. The startup ecosystems in Russia and the CIS are striving to keep pace, despite external constraints. Overall, the global picture indicates the emergence of a new venture boom, although investors continue to bet on the most promising and resilient projects.
Key events and trends shaping the venture market landscape as of 29 November 2025 include:
- The return of mega funds and large capital. Leading venture players are forming record funds and once again actively injecting substantial resources into the market, filling the ecosystem with capital and rekindling the appetite for risk.
- Record AI rounds and a new wave of unicorns. Unprecedented investments are driving startup valuations to unseen heights, particularly in the artificial intelligence sector, resulting in the emergence of numerous companies valued over $1 billion.
- The revival of the IPO market. Successful public offerings of tech unicorns and new listing applications indicate that the long-awaited window for public exits has reopened.
- Industry focus diversification. Venture capital is being directed not only towards AI but also into fintech, biotech, climate technologies, space, defence, and other projects, broadening market horizons.
- A wave of consolidation and M&A deals. Major mergers, acquisitions, and partnerships are reshaping the industry's landscape, creating new opportunities for exits and business scaling.
- Global expansion of venture capital. The investment boom is spreading to new regions—from the Middle East and South Asia to Africa and Latin America—creating new tech hubs.
- Renewed interest in crypto startups. Following a prolonged "crypto winter," blockchain projects are once again attracting significant funding and attention from venture funds and corporations.
The Return of Mega Funds: Big Money is Back in the Market
The largest investment funds and players are triumphantly returning to the venture scene—a clear indication of a new surge in risk appetite. Following the downturn of 2022-2024, leading firms are once again actively raising capital and launching funds of record scale.
Japan's SoftBank has announced the launch of its Vision Fund III, valued at approximately $40 billion, focused on advanced technologies (AI, robotics, etc.). In the USA, Andreessen Horowitz is forming a fund of around $20 billion to finance late-stage AI startups. Concurrently, sovereign funds from the Gulf States are increasing their presence in the tech sector: investors from the Middle East are pouring billions into promising startups worldwide and launching ambitious projects to create their own tech hubs. New venture funds are being established across various regions, attracting significant institutional capital for high-tech projects. This influx of "big money" is providing the market with liquidity, intensifying competition for the most promising deals, and instilling confidence in the continued flow of capital.
Record Investments in AI: A Wave of New Unicorns
The artificial intelligence sector remains the primary engine of the current venture rise, showcasing unprecedented financing levels. Since the beginning of 2025, AI startups in the USA alone have cumulatively raised over $160 billion (about two-thirds of all venture investments in the country), and global investments in AI are projected to exceed $200 billion by year-end—a previously unimaginable level. The aggregate valuation of the ten largest AI companies has approached the astronomical mark of $1 trillion. The enormous inflow of capital into AI is accompanied by the emergence of numerous new unicorns: in October 2025 alone, around 20 startups globally surpassed the $1 billion valuation for the first time—a record monthly addition to the unicorn club. Investors are keen to fund projects in generative AI, AI infrastructure, autonomous systems, and other advanced directions.
Nearly every week heralds a new mega round. For instance, in November, the American cloud AI infrastructure provider Lambda raised approximately $1.5 billion, the predictive market platform Kalshi secured $1 billion, and the developer of multimodal AI systems, Luma AI, raised $900 million. While such rapid growth inspires optimism regarding the potential of technologies, experts caution of signs of overheating in certain niches. This drives investors to be more discerning regarding valuations and to select truly quality projects.
The IPO Market is Reviving: A New Wave of Public Offerings
The global IPO market is gradually emerging from a prolonged lull and picking up speed. After nearly two years of pause, public offerings are once again a sought-after exit strategy for venture funds. In Asia, Hong Kong has kickstarted a new IPO wave: in recent months, several large tech companies have gone public, collectively raising billions of dollars. For example, China's CATL raised around $5 billion during its listing, reaffirming investor interest in IPOs within the region.
The situation is also improving in the USA and Europe: the American fintech unicorn Chime recently debuted on the stock market, and its shares rose approximately 30% on the first day. Soon after, the design platform Figma conducted its IPO, raising around $1.2 billion with a valuation of approximately $20 billion. The crypto sector is also attempting to capitalise on the revival: fintech company Circle successfully went public in the summer (with a market capitalisation of around $7 billion), and the cryptocurrency exchange Bullish has applied for listing in the USA with a targeted valuation of approximately $4 billion. The revival of IPOs is crucial for the venture ecosystem: successful offerings allow funds to recoup investments and validate the viability of financed business models, returning liquidity to the market and bolstering investor confidence.
Diversification of Industry Focus: Expanding Horizons
In 2025, venture investments are encompassing a much broader range of sectors and are no longer limited to artificial intelligence alone. Following the downturn of 2024, there has been a resurgence in fintech: new fintech startups are once again receiving large rounds of funding, particularly in payment systems and decentralized finance (DeFi). For instance, the American fintech decacorn Ramp raised $300 million at a valuation of around $32 billion (this being the fourth round for the startup in 2025), indicating a renewed interest from investors in financial technologies. Rapid growth is also observed in climate ('green') technologies—driven by the global demand for sustainable development, investors are eagerly financing projects in renewable energy and carbon footprint reduction.
Investors are also returning to biotechnology and medtech: major players (especially in Europe) are creating specialised funds to support pharmaceutical and medical startups. Space and defence technologies are also coming to the forefront—the geopolitical landscape and successes of private space companies are stimulating investments in satellite groups, rocket construction, unmanned systems, and military AI. The sector focus of venture capital has significantly broadened, enhancing market resilience: even if the hype surrounding AI subsides over time, other sectors are poised to take up the baton of innovation.
A Wave of Consolidation and M&A: The Industry is Transforming
High startup valuations and fierce competition in the market are provoking a new wave of consolidation. Major mergers and acquisitions are once again coming to the forefront, reshaping the balance of power within the industry. Tech giants are eager to acquire advanced developments and talent, actively acquiring promising companies. A notable instance is Google's agreement to acquire the Israeli cybersecurity startup Wiz for approximately $32 billion, setting a record for the tech sector in Israel. Such mega deals demonstrate corporations' readiness to invest in innovation to strengthen their positions.
In general, the surge in M&A activity signals market maturation. Mature startups are merging with each other or becoming acquisition targets, while venture funds have the opportunity for long-awaited profitable exits. Consolidation accelerates the growth of the most promising companies while simultaneously 'cleansing' the ecosystem of weaker players, thereby benefiting the market.
Global Expansion of Venture Capital: New Tech Hubs
The investment boom is extending to new regions, forming their own tech hubs worldwide. The Middle East stands out in particular: sovereign funds from the Gulf States are directing unprecedented volumes of capital into tech companies while simultaneously developing ambitious mega-projects (for instance, the city of the future NEOM in Saudi Arabia). In South Asia, India and Southeast Asian countries are attracting record inflows of capital, while in Europe, the distribution of venture investments is changing—Germany has surpassed the UK for the first time in a decade.
New startup ecosystems are forming in Africa and Latin America as global investors turn their attention to these promising markets. Local entrepreneurs—from Nigeria to Brazil—are gaining access to capital for growth, creating regional innovation centres. This global expansion of venture capital reduces reliance on traditional tech centres and stimulates innovation everywhere, laying the groundwork for the emergence of the next generation of startups across diverse corners of the planet.
Renewed Interest in Crypto Startups: The Market Awakens After the "Crypto Winter"
Following a lengthy 'crypto winter', the blockchain startup market has noticeably revived. In autumn, the volume of funding for crypto projects reached a peak not seen in recent years. Major rounds are occurring in Web3 infrastructure and decentralized finance, with venture capital once again flowing to promising blockchain platforms. The market's growth in cryptocurrencies has also played a role: Bitcoin surpassed the $100,000 mark, reigniting investor enthusiasm. Venture funds, which had long kept their distance, are gradually returning to the crypto sector; new specialised funds and incubators for Web3 projects are emerging.
Of course, volatility and regulatory risks persist, but cautious optimism is evident: market participants are striving to seize this new growth wave. Cumulative investments in crypto startups in 2025 have already surpassed $20 billion—more than double the total in 2024—and could reach $25 billion by year-end. All this signals a renaissance for the industry: after a market clean-up of speculation, the focus has shifted to real use cases of blockchain, attracting 'smart' money once more.
Careful Optimism and Sustainable Growth
By the end of 2025, cautious optimism prevails in the venture capital industry. Successful IPOs and substantial funding rounds indicate that the downturn is behind us and the startup ecosystem is experiencing a new upsurge. Nevertheless, investors continue to act prudently: capital is increasingly directed toward startups with a sustainable business model, proven economics, and real profit prospects.
Massive influxes of capital into AI and other sectors instil confidence in further market growth, but participants are keen to avoid repeating the mistakes of previous 'bubbles,' carefully selecting projects and soberly assessing their potential. The return of large investors, the emergence of new unicorns, and successful public offerings have laid the foundation for another wave of innovation, yet discipline and prudence among investors will define the character of this growth. Despite heightened risk appetite, the focus remains on quality growth of startups and long-term sustainability of the market.
