Startup and Venture Investment News — Tuesday, June 17, 2025: Fintech Unicorns and the Return of IPOs Revitalize the Market

In today’s overview, we present the most relevant events in the venture market as mid-June unfolds. The global startup industry continues its accelerated recovery: fresh multi-million funding rounds and signs of life in the IPO market showcase that the momentum of 2025 is gathering strength. Investors worldwide remain confident and are increasing investments in both artificial intelligence and other promising fields (from fintech to biotech). At the same time, the geography of venture investments is expanding, with the emergence of new funds and strategic partnerships injecting additional optimism into the market. Below is a brief digest of key news and trends shaping the venture market today:

• Fintech Unicorn Achieves Record Valuation: American fintech startup Ramp raised approximately $200 million, increasing its valuation from $13 billion to $16 billion just three months after its last funding round. This swift rise underscores a renewed interest from investors in financing within the fintech and corporate payments sectors.
• Revival of IPOs on the Horizon: The successful public offering of digital bank Chime and news that the design developer Figma has confidentially filed for an IPO signal the opening of a "window" for market exits. The confident debut of new tech stocks inspires other late-stage startups to consider IPOs in the latter half of the year.
• High Level of Financing Maintained: The global volume of venture investments remains elevated—just last week, startups collectively raised over $17 billion (approximately 160% more than the previous week). Major deals continue across various sectors: for instance, AI platform Glean secured $150 million at a $7.2 billion valuation, while fintech Aspora attracted $53 million for developing banking services for the global diaspora.
• New Unicorns Emerging Worldwide: The venture boom is extending beyond traditional hubs. In Latin America, fintech Ualá increased its valuation to about $2.8 billion, becoming a regional leader. The Middle East has seen the emergence of its first billion-dollar startups (such as Egyptian fintech MNT-Halan), while Southeast Asian startups are increasingly achieving unicorn status. This confirms the global nature of the growth—today, companies from any part of the world are capable of attracting significant capital.
• New Funds Expanding Capital Market: The supply side of investments is also reviving. Venture firms and corporate players are announcing new funds—both global and niche. For example, Bat VC is raising $100 million to support startups at the intersection of the U.S. and Indian markets, while the Pi Network project has established a $100 million venture fund for its blockchain ecosystem, and the Wisconsin state government fund is allocating $100 million for technology investments. New funds focused on deeptech are being launched in Europe. These initiatives signal that investors are actively forming pools of capital to seek out new growth opportunities.
• Mergers and Acquisitions Gaining Momentum: Major corporations are resuming strategic M&A in the tech sector. Beyond Google’s record deal purchasing cloud startup Wiz for $32 billion, targeted acquisitions are increasing—quantum company IonQ is acquiring UK startup Oxford Ionics for approximately $1.1 billion, while several fintech unicorns in Europe are considering stake sales to large banks. Tech giants are also increasingly investing substantial amounts into promising firms (e.g. Meta acquired a 49% stake in Scale AI for $14.8 billion). This uptick in exits provides venture funds with much-anticipated opportunities to profitably realize their investments.

AI Investments Reach New Records

Investment in artificial intelligence continues to set new highs. Following a series of mega-rounds in 2024, the trend has only intensified in 2025. A prime example is AI solutions startup Glean, which raised $150 million just nine months after its previous round, doubling its valuation to $7.2 billion. Even more impressive is Anysphere—creators of an AI assistant for programmers who received a $900 million investment offer at an approximate valuation of $10 billion, making it one of the largest venture deals of the year. The massive sums being attracted by AI companies reflect the intensifying global tech race: funds from the US, Europe, and Asia are competing for stakes in the most promising AI startups, fearing they might miss out on the next great leader like OpenAI. Consequently, even relatively young teams with breakthrough AI products can now attract hundreds of millions of dollars, a feat formerly achieved only by more mature businesses. The current AI boom is global in nature and continues to gain momentum, setting new records in the venture market for access to cutting-edge technologies.

Fintech and Corporate Finance Back in Focus

Following a temporary decline in interest, the fintech sector is experiencing a resurgence. Investors are once again actively financing projects related to digital finance, payments, and next-generation banking services. A notable case is Ramp, a business expense management platform, which saw its valuation soar from $7.6 billion to $16 billion in a matter of months due to a new funding round. Similarly, several other fintech players have secured significant investments—from cross-border transfer services (e.g., Aspora, targeting global diasporas) to B2B lending platforms. Confidence is also strengthening regarding major fintech firms' potential IPOs. The recent IPO of neo-bank Chime is reported to have been successful, with investors responding positively to its performance and prospects. This inspires other fintech unicorns (such as payment platforms and neobanks) to ramp up preparation for public offerings. Fintech's return to focus among venture funds is driven by a growing demand for innovations in finance: companies offering businesses and consumers more efficient financial tools—from accounting automation to low-cost cross-border payments—are once again seen as growth drivers and commanding high multiples.

Beyond AI: Biotech, Climate Technologies, and Other Sectors

Although the hype surrounding AI dominates the headlines, venture financing in 2025 covers a much broader range of industries. Projects in biotechnology, medtech, climate technologies, and industrial software are regaining prominence. In the US and Asia, significant deals focusing on "green" agendas are being recorded: investors are pouring funds into startups aimed at reducing CO₂ emissions, developing electric transport, and innovating materials. Biotech companies are also attracting large checks once again, particularly in genetic therapy and digital health segments, where some startups are achieving valuations in the hundreds of millions of dollars as their developments progress. This diverse growth signals a more balanced market recovery: capital is flowing not only into the currently trendy AI but also into other sectors capable of delivering the "next big breakthrough." For venture investors, sector diversification is a conscious strategy aimed at mitigating overheating risks in one segment while capturing waves of success in various niches, from healthtech to cleantech.

Tech Giants and Corporations on the Hunt for Innovations

Another indicator of market revitalization is the resurgence of strategic deals by major tech corporations and industry leaders. After a pause in 2022-2023, Big Tech companies are again prepared to spend billions on promising startups. A classic example is Google's announced acquisition of the cloud cybersecurity startup Wiz for $32 billion—one of the largest M&A deals of the decade, illustrating that competition for technologies in cloud and security is peaking. Simultaneously, these giants are pursuing significant minority investments: Meta invested $14.8 billion for a 49% stake in Scale AI, effectively becoming a co-owner of one of the market leaders in data for AI. This format—where a corporation takes a significant stake instead of complete acquisition—is gaining popularity as a way to access technologies while sidestepping stringent antitrust scrutiny. Industry players in finance and manufacturing are not lagging behind: major banks are eyeing fintech startups, while pharmaceutical giants are engaging with medtech projects through partnerships and option agreements. All this creates new exit opportunities for venture funds: if a startup does not go public, it stands a high likelihood of being acquired or strategically financed by an "older sibling" in the industry. The return of large corporate money to the venture market is a positive sign, indicating that the tech race of 2025 is stimulating cooperation between startups and corporations on mutually beneficial terms.

New Funds and Capital for Startups

Against the backdrop of rising startup valuations, the "back-end" of the venture market is also strengthening—the funds and investors ensuring the inflow of capital. In spring 2025, new venture funds and investment platforms were announced one after another. Both renowned global funds and emerging regional players are re-entering the fray. For example, the international fund Bat VC is forming a $100 million pool to support projects at the intersection of American and Indian markets—indicative of investors' faith in the synergy between these ecosystems. In the crypto industry, the creators of the Pi Network have launched a $100 million venture fund to finance startups within their blockchain ecosystem. Government and quasi-government institutions are also coming on board: in the US, the state of Wisconsin allocated $100 million for the development of tech companies, while several European countries are establishing funds to invest in critical deeptech segments (such as semiconductors, quantum computing, and AI for industry). Corporate venture arms are stepping up as well: industrial giants are creating accelerators and funds, banks are financing fintech solutions, and IT holdings are seeking startups for investments in corporate software. This influx of "smart money" signifies that in 2025, promising teams will once again have ample opportunities to secure funding—the competition for the best projects is growing not only among startups but also among investors themselves, striving to invest in the most promising innovations.

Global Expansion of Venture Capital

The venture activity in 2025 is distinctly global in nature. While historically, the majority of deals were concentrated in the US and China, a surge of growth is now occurring in new markets. In the Middle East and North Africa (MENA region), venture financing volumes surged into double digits during the spring. In May alone, MENA startups raised approximately $300 million (around 25% more than in April), spearheaded by the UAE, Saudi Arabia, and Egypt. Local funds and government investors are active in these countries, focusing primarily on fintech, e-commerce, and logistics. As a result, the region has produced its first unicorns, with governments aiming to cultivate even more (for instance, at the 2025 VivaTech forum in Paris, Saudi representatives introduced several candidates for billion-dollar valuations as part of their Vision 2030 initiative). At the same time, India has solidified its position among the world's top three in venture investments: the number of deals and funding round sizes are steadily increasing there. Classic venture players from Silicon Valley and London are expanding their presence in India, financing not only late-stage startups but also early ventures with global ambitions. Southeast Asia is forming a new wave of tech giants: in ASEAN countries (such as Singapore, Indonesia, Vietnam, etc.), the number of rounds in the tens and hundreds of millions is growing, and some local companies are already going public at home, showcasing the maturity of their ecosystems. Even Africa is setting its own records: the continent's largest markets (Nigeria, Kenya, and South Africa) are attracting unprecedented investments, particularly in fintech and renewable energy. Thus, venture capital today truly knows no borders: talented teams can secure funding regardless of their country of origin—provided they offer a global-level proposition. For investors, geographic expansion presents an opportunity to be the first to enter new markets and sectors, capitalizing on the growth of future tech leaders across various corners of the globe.

Russia and CIS: Local Trends Amid Global Upturn

Against the overall positive backdrop, the question remains: what position do the Russian and nearby startup markets occupy? Venture investments in Russia have contracted in recent years due to a challenging geopolitical and economic landscape. Estimates suggest that the total transaction volume in Russia for the entirety of 2024 was less than 10 billion rubles (approximately $120 million)—a drop in the ocean by global standards. Nevertheless, the local ecosystem continues to develop, relying on internal resources. In 2025, major corporations, banks, and state institutions have intensified support for strategically important technologies. At specialized forums (such as the Russian Venture Forum in Kazan, the "Pulse of Digitalization" conference, etc.), priority investment areas have been outlined: artificial intelligence, industrial software, cybersecurity, new materials, and space technologies. These sectors are aligned with national projects and government orders, providing direction for corporate venture funds. Results are already apparent: oil and gas companies are financing industrial startups (robotics, digital twins), major IT holdings are launching accelerators for B2B SaaS solutions, and venture divisions of banks are investing in local fintech and regtech products.

Simultaneously, an increasing number of Russian teams are seeking growth beyond their borders. Some startups are pivoting towards neighboring markets or the Middle East, where investor interest is higher. Companies from Kazakhstan, Uzbekistan, and Belarus are attracting capital from Middle Eastern, Chinese, and European funds, acting as "bridges" between ecosystems. Within Russia, deal sizes remain modest (rarely exceeding a few million dollars), but a steady flow of investments in niche projects aimed at domestic demand and import substitution persists. For venture investors from the CIS, the current global upturn represents a chance to enter new markets: despite restrictions, it is possible to attract international partners, register businesses in friendly jurisdictions, and offer products globally. Experience shows that strong teams from our region can gain recognition abroad—there are already several startups founded by Russian/CIS expatriates that have achieved unicorn status abroad. Consequently, the venture ecosystem in CIS countries is developing according to a "catch-up growth" model: adopting the best global practices, local players are focusing on niches where they traditionally excel (mathematics and AI, cybersecurity, instrumentation). The global venture boom creates a favorable environment for promising projects from Russia and neighboring countries to make their mark. The main recipe for success for such teams in 2025 is to enhance innovation, build clear business models, and be prepared to operate in international markets. Only then will both foreign funds, resuming activity, and local investors seeking the "new Yandex" take notice of them.

Trends and Forecasts: Cautious Optimism

By mid-2025, the venture market is demonstrating a robust recovery following the downturn of previous years. A combination of factors—ranging from technological breakthroughs (AI, biotech, green energy) to the emergence of exits (IPOs and acquisitions)—is rekindling investors' appetite for risk. However, experts emphasize the importance of cautious optimism: the current growth is accompanied by greater selectivity than in the frenzied environment of 2021. The main trends anticipated by analysts to shape industry development in the second half of 2025 include:

1. Escalation of the AI Race. The competition for leadership in AI will continue to intensify. Multi-billion dollar investments, as demonstrated by the Meta–Scale AI deal, will prompt other tech giants to respond—expect to see new large rounds, partnerships, and acquisitions in the artificial intelligence segment. Simultaneously, a tidal wave of new AI startups will continue to emerge, though only a few will offer truly unique technologies. Venture investors will need to more carefully curate projects amidst market saturation with similar ideation firms.
2. Return of Exits. The thawing of the IPO market and activation of M&A create long-awaited exit points for venture capitalists. Successful debuts from companies like Chime and filed applications from other unicorns (including Figma) are inspiring founders to plan for public listings in the second half of the year. Alongside this, examples of strategic acquisitions (Google–Wiz, IonQ–Oxford Ionics, etc.) showcase fast pathways to innovation for corporations, while providing funds with real opportunities to profitably cash out their stakes. A mix of new IPOs and high-profile acquisitions is likely to continue restoring liquidity within the venture ecosystem, attracting new LP investors and increasing fund sizes.
3. Discipline Against Risks. Despite the positive trend, market participants remember the lessons from the recent correction. External factors—from monetary policy to geopolitical events—can adjust growth trajectories at any moment. Potential tightening of key interest rates in the latter half of the year or economic shocks may cool investors' enthusiasm. Hence, funds and angel investors are currently acting more cautiously: conducting thorough due diligence, pragmatically assessing startups, and avoiding unwarranted inflation of "bubbles" is becoming common practice. This financial discipline is aimed at ensuring that the new market upturn is more sustainable and healthier than the boom of the previous cycle.

Conclusion: The startup and venture investment industry is entering mid-2025 on an upswing, with global reach and a diversity of opportunities. Investors—from Silicon Valley to Moscow and Dubai—are returning to the market, blending a desire for new unicorns with sound judgment. For startups, it is time to seize this window of opportunity: strong teams with innovative solutions and global ambitions can attract capital even amidst fierce competition. The new wave of venture capital is dictating its own rules, where the winners are those who can merge technological boldness with business pragmatism and international scale. These projects will shape the next phase of technological growth, and funds, cautiously scaling their activity, are prepared to support them on this journey.