Global Startup and Venture Investment News — Friday, 26 December 2025: Venture Boom, Mega AI Rounds, IPO Resurgence, and Global Trends. A Review for Venture Investors and Funds.
By the end of 2025, the global venture capital market is showing a strong recovery after the downturn of recent years. According to analysts, the total volume of venture capital investment worldwide has significantly increased compared to last year, with the fourth quarter confirming the trend towards revival. The prolonged "venture winter" of 2022–2023 is behind us, and the inflow of private capital into technology startups is accelerating. Major deals worth hundreds of millions and billions of dollars are again becoming a reality, and the IPO plans of promising companies are back on the agenda. Leading venture funds and corporations have resumed large-scale investment programmes, and governments in various countries have ramped up support for innovative businesses. Young companies are receiving ample liquidity for growth and scaling, signalling a definitive exit of the industry from the downturn period.
Today, venture activity encompasses all regions. The USA maintains its leadership—primarily due to colossal investments in the field of artificial intelligence. In the Middle East, the volume of investments in startups has increased manifold thanks to generous funding from sovereign wealth funds. In Europe, a redistribution of power is taking place: Germany has overtaken the UK in total volume of venture deals for the first time in a decade, strengthening the positions of continental hubs. In Asia, growth is shifting from China to India and Southeast Asia—these markets are attracting record capital, whereas the Chinese market has somewhat cooled amid regulatory risks. Africa and Latin America are also not lagging behind: the first "unicorn" companies have appeared in these regions, confirming the truly global nature of the current venture boom. The startup scenes in Russia and the CIS countries are striving to keep pace despite external constraints, relying on local initiatives and support from partner countries. Overall, the global picture indicates the formation of a new venture boom, although investors are acting more cautiously, selecting the most promising and resilient projects.
- Return of mega funds and large capital. Leading venture players are launching record funds and once again saturating the market with liquidity, fuelling risk appetite.
- Record rounds in AI and new "unicorns." Unprecedented investments in artificial intelligence are soaring to unseen heights, creating a wave of new "unicorn" companies and increasing valuations of industry leaders.
- Revival of the IPO market. Successful public offerings of technology companies and a rise in listing applications indicate that the long-awaited "window of opportunity" for exits has reopened.
- Diversification of investments: not just AI. Venture capital is being directed not only into AI but also into fintech, climate projects, biotech, defence technologies, and other sectors, broadening market horizons.
- Wave of consolidation and M&A deals. Major mergers, acquisitions and strategic alliances are reshaping the industry landscape, creating new opportunities for exits and accelerated growth of companies.
- Resurgence of interest in crypto startups. After a prolonged "crypto winter," blockchain projects are once again attracting significant funding amid the growth of the digital asset market and easing regulations.
- Global expansion of venture capital. The investment boom is sweeping new regions—from the Gulf countries and South Asia to Africa and Latin America—forming local tech hubs around the world.
- Local focus: Russia and the CIS. New funds and initiatives are emerging in the region to develop local startup ecosystems, gradually increasing investor interest in local projects.
The Return of Mega Funds: Big Money Back in the Market
The largest investment players are triumphantly returning to the venture arena, marking a new surge in risk appetite. After several years of quiet, leading funds are again attracting record capital and launching mega pools, demonstrating confidence in the market's potential. For example, Japan's SoftBank is forming its third Vision Fund with a volume of around $40 billion, focusing on advanced technologies (primarily projects in AI and robotics). Investment companies that had previously taken a pause are coming out of wait mode: for instance, Tiger Global, after a period of caution, has announced a new fund of approximately $2.2 billion—smaller than its previous giant pools, but with a more selective strategy. In December, Lightspeed Venture Partners raised a record $9 billion in new funds—the largest funding round in the firm's history—to invest in promising projects (with a significant focus on AI). Sovereign funds in the Middle East are also becoming more active: governments in oil-producing countries are pouring billions into innovation programmes and tech parks, building robust regional startup hubs.
Simultaneously, dozens of new venture funds are emerging globally, attracting significant institutional capital for investments in high-tech companies. The largest funds from Silicon Valley and Wall Street have accumulated unprecedented reserves of liquid funds ("dry powder")—hundreds of billions of dollars are ready to be deployed as the market revives. The influx of this "big money" is already palpable: the ecosystem is filling with liquidity, competition for the best deals is intensifying, and the industry is receiving the much-needed boost of confidence. It is also noteworthy that governments are participating: for instance, the German government has launched the Deutschlandfonds, a €30 billion fund aimed at attracting private capital for technology projects and economic modernization, highlighting the authorities' commitment to supporting the venture market.
Record Investments in AI: A New Wave of "Unicorns"
The artificial intelligence sector has become the main driver of the current venture surge, showcasing record financing volumes. Investors worldwide are keen to secure their positions among AI market leaders, directing colossal funds into the most promising projects. In recent months, several AI companies have raised unprecedentedly large rounds: language model developer Anthropic secured around $13 billion in investments (raising the company's valuation to approximately $180 billion), Elon Musk's xAI project attracted about $10 billion (partially through debt financing, with an estimated valuation around $200 billion), while one infrastructure AI startup managed to secure over $2 billion, increasing its valuation to approximately $30 billion. Special attention is focused on OpenAI: a series of mega-deals over the year has driven this company's valuation to an astronomical ~$500 billion, making OpenAI the most valuable private startup in history. In one funding round, Japan's SoftBank led an investment of ~$40 billion (valuing OpenAI at around $300 billion), and now reports suggest that Amazon is ready to invest up to $10 billion. SoftBank is racing to close its portion of the deal (~$22.5 billion) by the end of the year—this move will further solidify OpenAI's position at the top of the market and reaffirm SoftBank's role as a key player in the AI industry.
Such giant deals validate the excitement surrounding AI technologies, driving company valuations to unprecedented heights and spawning dozens of new "unicorns." Moreover, venture investments are being directed not only into applied AI services but also into critically important infrastructure for them. "Smart money" is even going into the proverbial "shovels and pickaxes" of the digital gold rush—from the production of specialized chips and cloud platforms to tools for optimising data centre energy consumption. Thus, the race for leadership in AI is unfolding on all fronts, with access to capital and technology becoming a decisive factor for success. By the end of 2025, some estimates suggest that approximately half of all global venture funding was directed towards the AI sector (up from ~34% the previous year), and investment volume in the AI sector surged more than 70% compared to the previous year. This spike sets the tone for the entire industry, and in 2026, market attention will likely remain fixated on the opportunities and risks associated with artificial intelligence.
Revival of the IPO Market: The Exit Window is Open
After a prolonged pause, the market for initial public offerings is experiencing a rebirth. In 2025, the number of technology IPOs in the US grew by more than 60% compared to the previous year. In recent weeks, several major companies have successfully debuted on the stock exchange, convincingly demonstrating that the "window of opportunity" for venture investors has indeed reopened. In Hong Kong, a series of high-profile listings took place: several tech firms went public, collectively raising billions of dollars. For instance, Chinese battery manufacturer CATL raised about $5 billion during its IPO—investors in the region are ready to actively engage in new public deals once again.
In both the US and Europe, the IPO situation has also significantly improved. A number of highly valued startups have successfully conducted IPOs, confirming a resurgence of appetite for new issuers. For example, fintech "unicorn" Chime added around 30% to its stock price on the first day of trading after going public. The design platform Figma raised ~$1.2 billion during its listing (capitalisation of around $15–20 billion), and its valuation has confidently continued to rise in the first days of trading. The success of such companies restores investors' faith in the possibility of profitable exits and encourages other "unicorns" to consider going public.
New high-profile listings are on the horizon. Among the anticipated IPOs are payment giant Stripe, as well as several other large private companies eager to take advantage of the favourable environment. Special attention is drawn to SpaceX: Elon Musk's space company has officially confirmed plans to conduct a large-scale IPO in 2026, intending to raise over $25 billion—this could be one of the largest listings in history. The crypto industry is also not standing aside: the issuer of stablecoins, Circle, successfully went public last summer (its stocks have significantly risen since the IPO), while the cryptocurrency exchange Bullish has submitted an application for listing in the US with a targeted valuation of around $4 billion. The revival of activity in the IPO market is critically important for the entire startup ecosystem: successful public exits allow funds to realise profits and redirect the freed-up capital into new projects, closing the venture financing cycle and supporting the industry's further growth.
Diversification of Investments: Not Just AI
In 2025, venture investments span a much broader range of industries and are no longer limited to artificial intelligence alone. Following the downturn of previous years, fintech is experiencing a resurgence: significant funding rounds are occurring both in the US and Europe as well as in emerging markets, stimulating the emergence of new digital financial services and banks. At the same time, interest in climate technologies and "green" energy is increasing—projects in renewable energy, eco-friendly materials, and agri-tech are attracting record investments amid the global trend towards sustainable development.
Investors' appetite for biotechnology is also returning. The emergence of breakthrough developments in medicine and the rise in valuations in the digital health sector are once again attracting capital, rekindling interest in biotech. Additionally, heightened focus on security is driving funding for defence tech projects—ranging from modern drones to cybersecurity systems. The partial stabilisation of the digital assets market and easing regulations in several countries have allowed blockchain startups to begin attracting capital once again. This expansion of industry focus is making the entire startup ecosystem more resilient and reducing the risk of overheating in specific segments of the economy. As a result, the venture market is diversifying, encompassing everything from fintech and climate tech to biomedical and defence developments, laying the groundwork for long-term balanced growth.
Mergers and Acquisitions: A New Wave of Consolidation
Large mergers and acquisitions, as well as strategic alliances between technology companies, are taking centre stage. High valuations of startups and intense competition for markets have led to a new wave of consolidation. Major corporations are actively scouting for promising assets: for example, Google has agreed to acquire Israeli cybersecurity startup Wiz for approximately $32 billion—a record sum for Israel’s tech sector. Reports have emerged of other tech giants preparing for large-scale purchases: for instance, Intel is allegedly in talks to acquire AI chip developer SambaNova for around $1.6 billion (the startup was valued at $5 billion back in 2021).
This new wave of acquisitions demonstrates the eagerness of major players to secure key technologies and talented teams. Overall, the increase in M&A activity signifies eagerly awaited opportunities for venture investors to achieve profitable exits. In 2025, there was a noticeable uptick in merger and acquisition deals across various segments: more established startups are merging with each other or becoming targets for corporations, reshaping the balance of power in the markets. Such moves help companies expedite development by combining resources and audiences, and enable investors to enhance returns through successful exits. Thus, M&A is once again becoming an important exit mechanism alongside IPOs, complementing the overall growth picture in the industry.
Resurgence of Interest in Crypto Startups: The Market is Thawing
After a prolonged "crypto winter," the blockchain startup segment is beginning to show signs of life. Gradual stabilisation and growth in the digital asset market (with Bitcoin surpassing the historic benchmark of $100,000 for the first time this year and consolidating around the $90,000 mark by the end of December) has revived investor interest in crypto projects. Additional impetus has been provided by a relative liberalisation of regulations: in several countries, authorities have eased their approach to the crypto industry, establishing clearer "rules of the game" for market participants. As a result, in the latter half of 2025, several blockchain companies and crypto fintech startups managed to secure significant funding—signalling that after years of stagnation, investors are once again seeing potential in this sector.
The return of crypto investments is broadening the overall landscape of technology financing, reintroducing a segment that has long been overshadowed. Now, alongside AI, fintech, and biotech, venture capital is again actively exploring the realm of crypto technologies. This trend opens up new opportunities for innovation and profit beyond mainstream directions, complementing the overall picture of global technological development. Investors, however, have become more discerning: they now evaluate crypto startups more thoroughly, paying particular attention to the real utility of products and the sustainability of business models.
Global Expansion of Venture Capital: The Boom is Capturing New Regions
The geography of venture investments is rapidly expanding. In addition to traditional tech hubs (the USA, Europe, China), the investment boom is sweeping new markets worldwide. Gulf countries (such as Saudi Arabia and the UAE) are investing billions of dollars in establishing local tech parks and maintaining startup ecosystems in the Middle East. India and Southeast Asian countries are experiencing a veritable flourishing of the startup scene, attracting record amounts of venture capital and generating new "unicorns." Rapidly growing tech companies are also emerging in Africa and Latin America—for the first time, some are achieving valuations exceeding $1 billion, solidifying these regions' status as full-fledged players in the global market. For instance, in Mexico, fintech platform Plata recently raised about $500 million (the largest private deal in the history of Mexican fintech) ahead of the launch of its own digital bank—this case vividly illustrates the growing interest of investors in promising markets.
Thus, venture capital has become more global than ever. Promising projects today can secure funding regardless of geography if they demonstrate the potential for business scaling. This opens up new horizons for investors: they can seek high-yield opportunities worldwide, diversifying risks across different countries and regions. The spread of the venture boom into new territories also facilitates the exchange of experience and talent, making the global startup ecosystem more interconnected and dynamic.
Russia and the CIS: Local Initiatives Against a Background of Global Trends
Despite external sanctions pressure, startup activity is gradually reviving in Russia and neighbouring countries. In 2025, several new venture funds were announced (collectively amounting to several tens of billions of rubles), aimed at supporting early-stage technology projects. Large corporations are establishing their own accelerators and corporate venture units, while government programmes assist startups in securing grants and attracting investors. For example, as a result of the Moscow "Innovators' Academy" programme, over 1 billion rubles were attracted into local tech projects.
While the scale of venture deals in the region currently lags behind global figures, they are steadily growing. The easing of certain restrictions is opening up opportunities for capital inflows from "friendly" countries, partially offsetting the outflow of Western investments. Some tech companies are contemplating taking their divisions public should market conditions improve: for example, the management of VK Tech (a subsidiary of VK) recently hinted at the possibility of an IPO in the foreseeable future. New government support measures and corporate initiatives aim to provide a further boost to the local startup ecosystem, integrating its development with global trends.
Conclusion: Cautious Optimism on the Dawn of 2026
By the conclusion of 2025, the venture industry is dominated by moderately optimistic sentiments. Record funding rounds and successful IPOs have clearly demonstrated that the downturn period is behind us. At the same time, market participants continue to exhibit caution. Investors are paying increased attention to the quality of projects and the sustainability of business models, striving to avoid unwarranted hype. The focus of the new surge in venture investments is not on chasing inflated valuations, but rather on seeking truly promising ideas capable of generating profits and transforming entire industries.
Even the largest funds are calling for a measured approach. Many participants note that the valuations of several startups remain very high and are not always supported by strong business performance. Aware of the risk of overheating (especially in the AI segment), the venture community is intent on acting judiciously, combining bold investments with thorough "homework" on market and product analysis. Thus, as we approach 2026, the industry greets the new year with cautious optimism, hoping for steady growth without repeating past excesses.
