Startup and Venture Investment News — Monday, December 1, 2025: Megafunds Return, Record AI Rounds

Current News on Startups and Venture Investments as of December 1, 2025: Mega Funds, Record AI Rounds, Deals, IPOs, Global Technology Market Trends.

The venture capital market is experiencing a new surge: large funds and strategic investors are actively returning, shaping the investment landscape for 2026. The focal point is large rounds in artificial intelligence and a resurgence in the IPO market. Capital is being distributed across numerous sectors—from traditional fintech and biotech projects to clean energy and space startups—while venture expansion is reaching new regions. Below are the key trends and events shaping the investment climate at the start of December 2025.

Return of Mega Funds and Large Capital. Investment giants are establishing record funds and pouring tens of billions into startups, boosting their appetite for risk.
Record AI Rounds and a Wave of New Unicorns. Unprecedented investments in the artificial intelligence sector are skyrocketing startup valuations to unseen heights, resulting in the emergence of hundreds of new unicorn companies.
Revival of the IPO Market. After a prolonged hiatus, public offerings have resumed: successful launches of technology companies are attracting billions, paving the way for investor exits.
Diversification of Investments Across Sectors. Venture capital is moving beyond AI: fintech and biotech are rejuvenating, while investments are rising in energy, climate tech, space tech, defence, and other innovative niches.
Consolidation and M&A. Mergers and acquisitions are gaining momentum—large corporations and funds are acquiring promising startups and creating joint projects, opening new avenues for exits.
Global Expansion. The investment boom is reaching new markets: Asia, the Middle East, Africa, and Latin America are exhibiting record growth rates in startup financing.
Renewed Interest in Crypto Startups. Following regulatory clarity, blockchain projects are once again attracting significant investments: fintech participants from the crypto sector are preparing for IPOs and major rounds.
Local Focus: Russia and CIS. Despite restrictions, new funds and support programmes for startups have emerged here. Although market volumes remain small, investments in AI and industrial technologies continue to grow.

Return of Mega Funds: Major Players Back in Action

The largest investors are returning to the venture scene with record funds. After a "long pause," Japan’s SoftBank announced the launch of Vision Fund III, targeted at ~$40 billion for advanced technologies (AI, robotics, etc.). Silicon Valley responded with similar ambition: Andreessen Horowitz is forming a new $10 billion fund (of which ~$6 billion will go to late-stage investments and $1.5 billion each to AI applications and infrastructure), while Sequoia Capital is launching approximately $950 million in early funds (seed and Series A). Sovereign funds from the Persian Gulf (Mubadala, PIF, etc.) and major corporations are also actively directing billions into promising startups worldwide. This influx of "big money" is filling the ecosystem with liquidity, enabling risky projects to secure gigantic rounds and instilling confidence in future growth.

SoftBank (Vision Fund III) – approximately $40 billion for AI and robotics.
Andreessen Horowitz – $10 billion fund (growth and AI sectors).
Sequoia Capital – ~$750 million (Series A) + $200 million (seed) for the earliest projects.
Sovereign funds (PIF, Mubadala) – tens of billions for global VC projects.

Record AI Rounds and New Unicorns

The artificial intelligence sector remains the primary driver of the venture boom. In Q3 2025, global VC funding reached ~$97 billion (an increase of +38% from the previous year), with around 46% ($~45 billion) directed towards AI startups. Leading projects with foundation models included American firms Anthropic and xAI, which raised $13 billion and $5.3 billion respectively, propelling their valuations to hundreds of billions. Major rounds continue to occur weekly: in France, Mistral AI raised €1.7 billion (valuation ~$11.7 billion) in September, US service Cursor (Anysphere) secured $2.3 billion at a valuation of ~$29.3 billion in November, while health startup Hippocratic AI received $126 million. In recent months, dozens of projects have surpassed the "unicorn" threshold. Investors are closely monitoring various AI directions (generative AI, autonomous systems, neural networks) but are simultaneously assessing the risks of overheating, placing their bets on team quality and real commercialisation.

Anthropic (USA) – $13 billion (Series F)
xAI (USA) – $5.3 billion (Series A)
Mistral AI (France) – €1.7 billion (Series C)
Cursor / Anysphere (USA) – $2.3 billion (Series B)
Hippocratic AI (USA) – $126 million (Series C)
Others: Reflection.ai and Polymarket (around $2 billion each), Crusoe ($1.4 billion), Base Power ($1 billion), Luma AI ($0.9 billion).

Revival of the IPO Market: A New Wave of Public Offerings

Following a summer lull, the public offering market has revived. In Asia, this wave has encompassed Hong Kong and Singapore: several major technology companies have gone public, collectively raising billions of dollars. For instance, Chinese battery manufacturer CATL raised around $5 billion during its IPO in Hong Kong, confirming investor interest in Asian IPOs. In the US, the pace is also accelerating: fintech unicorn Chime recently debuted on the stock market, with shares rising about 30% on its first day. Following this was design platform Figma, which attracted ~$1.2 billion. The cryptocurrency sector is not lagging behind: Circle (a cryptocurrency payments company) went public on Nasdaq (IPO ~$1 billion, market cap ~$7 billion), while cryptocurrency exchange Bullish has filed for a listing with an estimated valuation of ~$4 billion. Although some placements (e.g., travel service Navan in October) faced challenges (shares fell by 20% at opening), the overall revival of IPOs instills optimism: successful exits allow funds to realise profits and reinvest capital into the venture market.

CATL (China) – ~$5 billion on IPO in Hong Kong.
Chime (USA, fintech) – successful IPO, +30% growth from day one.
Figma (USA) – ~$1.2 billion on IPO (valuation ~$20 billion).
Circle (USA, crypto fintech) – ~$1 billion IPO (stablecoin platform).
Bullish (USA, crypto exchange) – IPO application with an estimated valuation of ~$4 billion.
Navan (USA, travel) – $0.9 billion on IPO (shares fell -20% from the offering price).

Diversification of Investments: Horizons Expanding

Beyond AI, venture capital is increasingly directed into other sectors. Fintech projects (new payment systems, blockchain in finance), biotechnology (medicine, genetics, diagnostics), clean energy, and climate solutions are making a comeback. For example, renewable energy startups secured significant investments: AI data centres Crusoe and Base Power raised ~$1.4 billion and $1 billion respectively. In light of this, demand for biotechnology and climate tech startups has risen: sustainable energy, smart city, and agri-tech projects are regularly receiving funding. Additionally, defence and national projects (AI for security, robotics) are becoming part of the portfolios of large funds. Such broadened focus reduces risks and opens up additional niches for investors to explore.

Fintech and DeFi – resurgence of startups in payments, lending, and financial technologies.
Biotechnology and Health – projects in medicine, genetics, and telemedicine.
Climate and Clean Energy – startups in renewable sources, energy efficiency, agri-tech.
Space and Aerospace Technologies – private space projects, satellite systems.
Defence and Security – AI systems for the military, national infrastructure, "security technologies".

Consolidation and M&A: Companies Uniting

There is a noticeable increase in mergers and acquisitions in the technology sector. Large corporations and funds frequently acquire promising startups to expand their competencies (through corporate M&A and venture accelerators). This creates new exit opportunities for investors: by selling companies to strategic buyers, funds are able to realise profits and return liquidity to the ecosystem. Simultaneously, major joint projects are emerging between startups and industry leaders (e.g., fintech alliances and joint AI labs). As a result, the market is restructuring not only through new rounds but also through tighter integration of large players' technologies and startups.

Global Expansion: New Hubs and Regions

The investment boom is spreading to new markets. The Asian sector is confidently growing: Indian startups attracted around $1.7 billion in investments just in November (up 3× from last year), while Chinese companies secured $3.9 billion in October (+200% YoY). Africa is also continuing its rapid development: $2.65 billion in venture capital in the first half of 2025 (+56% year-on-year), primarily in fintech and mobile technologies. Latin America is gaining momentum as well: its largest market, Brazil, attracted $692 million in Q3 2025 (+47% YoY) thanks to active deals in fintech and healthcare. Concurrently, interest is rising in Southeast Asia (Singapore, Indonesia) and the Middle East (Dubai, Saudi Arabia): new technology clusters are being formed here, attracting global VC funds.

Asia: India ~$1.7 billion (November, +200% YoY); China ~$3.9 billion (October, +200%).
Africa: $2.65 billion (January–October 2025, +56%); leaders – Kenya, Nigeria, Ghana.
Latin America: $692 million in Q3 2025 (+47% YoY); drivers – fintech and healthcare.
Middle East: billion-dollar funds (UAE, Saudi Arabia) investing in global VC projects.
Southeast Asia and the APAC region – rapidly growing startup ecosystems and new accelerators.

Renewed Interest in Crypto Startups

Crypto projects are once again capturing the attention of venture investors. According to Carta, blockchain startups raised $904 million in the first six months of 2025—an increase of 47% compared to the same period in 2024. This surge is linked to regulatory clarity (the GENIUS Act and other laws), which has alleviated many investor concerns. In this context, exits are becoming more common: during the summer, payments company Circle conducted an IPO for $1 billion, while in September, blockchain lender Figure ($787.5 million) and cryptocurrency exchange Gemini ($425 million) also went public. Validators and DeFi projects are preparing for new rounds, considering the market's favourable sentiment and requests from financial regulators. All of this indicates a return of significant capital into the Web3 ecosystem.

$904 million – investments in crypto companies in H1 2025 (growth +47% YoY).
IPO of crypto companies: Circle ($1 billion), Figure ($787.5 million), Gemini ($425 million).
New regulations: the GENIUS Act and other legislative measures aimed at supporting the crypto industry.
Blockchain startups in adjacent areas (NFT, Web3 SaaS, DeFi) are preparing for major rounds.

Local Perspective: Russia and CIS

Amidst the global boom, the Russian and CIS markets remain small and not fully open. According to ComNews, from January to September 2025, Russian tech companies attracted only $125.5 million (a growth of +30% from last year). Key niches include IndustrialTech (around $29.7 million), Healthcare ($19.2 million), and FinTech ($18.3 million). Notably, AI companies are leading by volume: they attracted $60.4 million in investments (32 deals). The CIS displays a similar trend: small rounds are taking place in Kazakhstan, Belarus, and Uzbekistan, often with the participation of local funds. New state programmes and accelerators (FII, RVC, Skolkovo, etc.) are emerging, but major international investors remain on the sidelines. Overall, the region anticipates an influx of private capital and a reduction of barriers—crucial for scaling local startups in the coming years.

Russia: $125.5 million in 9 months of 2025 (+30% YoY); 103 deals during this period.
Main sectors: IndustrialTech ($29.7 million), Healthcare ($19.2 million), FinTech ($18.3 million).
AI and Machine Learning: $60.4 million in investments (32 deals) – the leader in transaction volume.
CIS: Kazakhstan, Uzbekistan, Belarus – active "early" deals ($1–5 million) with the involvement of state funds.
New initiatives: Russian incubators and government funds (FII, RVC, etc.) are gradually expanding support for startups.