Startup and Venture Capital News — Monday, February 2, 2026: AI Mega-Rounds, Consolidation, and IPO Revival
As of early February 2026, the global venture capital market shows continued robust growth following previous downturns. Investors worldwide are once again actively funding technology startups—record deals are being made, a long-awaited queue of IPOs is forming on the horizon, and large funds are raising unprecedented amounts of capital. Governments and corporations are enhancing support for innovation, reinvigorating private capital within the startup ecosystem, and underpinning the new market development.
The surge in venture activity has encompassed all regions. The United States maintains its leading position (especially in the artificial intelligence segment), the Middle East has reached record investment levels, Europe is witnessing a resurgence in deals (with Germany surpassing the UK for the first time in venture capital investments), while India and Southeast Asia are experiencing an influx of capital amidst a relative slowdown in China. The startup ecosystems in Russia and the CIS countries are also striving to keep pace by launching local funds and initiatives, although their dynamics remain subdued due to external constraints. In general, a new venture boom is forming in the industry, though investors are acting selectively, focusing on project quality and business model sustainability.
Below are the key events and trends shaping the venture market agenda as of February 2, 2026:
- The Return of Mega Funds and Large Investors. Leading venture players are raising massive new funds and sharply increasing their investments, saturating the market with capital and fueling a renewed risk appetite.
- Record Rounds in AI and New Unicorns. Unprecedented funding is elevating startup valuations to unseen heights, particularly in the artificial intelligence sector, spawning a wave of new 'unicorn' companies.
- IPO Market Revival. Successful public offerings of tech companies and new high-profile IPO plans confirm that the much-anticipated 'window' for exits has reopened.
- Diversification of Sector Focus. Venture capital is flowing not only into AI but also into fintech, climate technologies, biotech, defense innovations, and even crypto startups, embracing a broader range of innovations.
- A Wave of Consolidation and M&A Deals. Major mergers, acquisitions, and strategic investments are reshaping the industry landscape, creating new exit opportunities and accelerating company growth.
- Local Focus: Russia and the CIS. Despite limitations, the region is seeing the emergence of new funds and programs to support local startups, aiming to propel the development of local tech ecosystems.
The Return of Mega Funds: Big Money is Back in the Market
The largest investment players are triumphantly returning to the venture arena, signaling a renewed risk appetite. The largest funds from Silicon Valley and global investors are attracting significant resources: the accumulated reserves of 'dry powder' are estimated in the hundreds of billions of dollars, ready for investment as market confidence strengthens. For instance, Japan’s SoftBank is enhancing its presence—not only with the launch of Vision Fund III (previously announced at around $40 billion for advanced technologies) but also with talks of its participation in a monumental round for OpenAI. Reports indicate that SoftBank is prepared to invest up to $30 billion more, while OpenAI seeks up to $100 billion in funding, with a potential valuation of around $800 billion. Such moves affirm the return of 'big money' to the tech sector.
Sovereign funds in the Middle East are also on the rise: investments in startups in the region reached a record $3.8 billion in 2025 (a growth of approximately 74% year-on-year). Saudi Arabia and the UAE are channeling billions into tech projects, creating regional tech hubs and mega support programs for startups. Concurrently, new venture funds—both corporate and public-private—are emerging throughout the world, aiming to support innovation. For example, the German government launched the Deutschlandfonds transformation fund with €30 billion to stimulate high-tech sectors. These gigantic funds and programs are infusing the startup market with liquidity, intensifying competition for the best deals and instilling confidence in the industry regarding the long-term influx of capital.
Record Investments in AI and a New Wave of Unicorns
The artificial intelligence sector is the main driver of the current venture boom, demonstrating record levels of funding. Investors are eager to secure positions in AI race leaders, directing colossal funds toward the most promising projects. It is estimated that in 2025, global investments in AI startups reached approximately $150 billion—nearly double the previous record set in 2021. Several companies rapidly ascended to the forefront: OpenAI, Anthropic, SpaceX, and Stripe are now valued in the tens or hundreds of billions and are considered potential 'hectounicorns' (valuations of $100 billion or more). For example, Elon Musk’s startup xAI attracted around $10 billion, whereas OpenAI previously received over $8 billion in investments at an estimated valuation of approximately $500 billion, laying the groundwork for a possible IPO with a valuation of up to $1 trillion. Furthermore, Anthropic approved a new $10 billion round in January 2026 at an estimated valuation of about $350 billion. Such large rounds are often significantly oversubscribed—the excitement around AI startups is reaching a peak.
It is also important to note that funding is not limited to end AI applications but also includes infrastructure solutions for them. Venture capital is eagerly flowing into the “shovels and picks” for the new AI ecosystem: from cloud platforms and specialized chips to data storage systems and energy projects to support computing power. For instance, startup PaleBlueDot AI, creating infrastructure for AI, raised $150 million at a valuation of over $1 billion, while Standard Nuclear secured $140 million for advanced nuclear fuel technologies—anticipating demand from AI data centers. The current investment boom is generating a wave of new unicorns—the number of startups valued above $1 billion is rapidly increasing. While experts warn of the risk of overheating in the market and the potential for a bubble, investor appetite for AI projects shows no signs of waning.
The IPO Market Awakens: Opportunity Window for Exits
The global initial public offering (IPO) market is emerging from a prolonged lull and gaining momentum, restoring a real opportunity for startups to achieve substantial exits. In Asia, Hong Kong has kicked off a new wave of IPOs: several major tech companies recently went public, collectively raising billions in investments. Notably, Chinese battery manufacturer CATL successfully completed a roughly $5 billion offering, confirming the willingness of investors in the region to actively participate in IPOs again.
The situation is also improving in the United States and Europe. At the end of 2025, several unicorns debuted on the exchange with impressive results. For example, American fintech startup Chime went public, with its shares rising 30% on the first day of trading. Following this, design platform Figma went public, raising approximately $1.2 billion at an estimated valuation of around $15–20 billion, and its shares confidently increased in value. The success of these offerings became a signal for other players: at the top of the list of candidates for IPOs in 2026 are giants like OpenAI, Anthropic, SpaceX, Stripe, and other highly valued companies that could become the market's 'headliners.' 2026 is already being called the 'year of hectounicorns,' with several companies valued over $100 billion potentially going public. Their upcoming offerings are attracting significant attention—success or failure in these IPOs will influence investor sentiment and the overall valuation of the AI boom.
The revival of activity in the IPO market is extremely important for the venture ecosystem. Successful public exits allow funds and early investors to lock in profits, return capital to their investors, and reinvest in new projects. The expansion of the IPO 'window' enhances the attractiveness of startups for late-stage financing, as investors have a clear path to liquidity once again. Consequently, the resurgence of the IPO market strengthens the entire chain of venture investment, from seed stage to substantial exits.
Diversification of Investments: Not Just AI
Venture investments in 2025–2026 are covering an increasingly broad range of industries, moving beyond a singular dominating theme. Following the downturn of previous years, fintech is confidently recovering: large funding rounds for financial technologies are taking place not only in the U.S. but also in Europe and emerging markets. Investors are again interested in climate and 'green' technologies—on the wave of the global trend of sustainable development, record amounts are flowing into climate and environmental startups. A notable example: a coalition of venture funds led by Breakthrough Energy Ventures announced in early 2026 the creation of a new $300 million fund for investments in climate innovations, demonstrating a growing appetite for this sector.
There is a resurgence of interest in biotechnology and medtech: the emergence of new drugs, vaccines, and digital health platforms is attracting investment again as the industry recovers from a period of reduced valuations. Simultaneously, amidst geopolitical tensions, there is rapid growth in the defense and security segment: venture capitalists are actively funding defense tech projects and cybersecurity. In 2025, investments in defense startups in Europe reached a record ~$1.5 billion (about 6% of all European venture capital), reflecting the demand for new developments in security. Finally, trust in crypto startups is partially returning: after a market cool-down, several blockchain projects have managed to attract investment once again. For example, the crypto platform Mesh in the U.S. raised $75 million for developing a payment network while some fintech companies from the crypto sector are integrating into traditional finance. Overall, the diversification of sector focus indicates that venture capital is now being distributed more evenly across various tech sectors—from artificial intelligence and finance to climate initiatives and defense—reducing market dependency on a single trend.
Consolidation and M&A: Larger Players Emerge
Intensified competition and high startup valuations have led to a wave of consolidation within the industry. Large corporations and financial institutions are increasingly purchasing promising startups, while startups themselves are merging or being sold to strategic investors to acquire resources for further growth. The beginning of 2026 has been marked by several high-profile mergers and acquisitions. In January, the largest banking-fintech deal was announced: American bank Capital One is acquiring fintech unicorn Brex for approximately $5.15 billion—this is a record case of a bank acquiring a startup in the industry's history. Another example is London-based investment fund Hg agreeing to acquire American software company OneStream for $6.4 billion, purchasing shares from investors (the deal is expected to close in the first half of 2026).
Consolidation is affecting the European market as well: stock exchange operator Deutsche Börse agreed in January to acquire financial platform Allfunds for approximately €5.3 billion, which has become one of the largest M&A deals in European fintech. Asian unicorns are also expanding their presence through deals: for instance, Australian payment company Airwallex entered the South Korean market by acquiring local startup Paynuri. High-tech giants are not staying on the sidelines—large IT corporations are resuming strategic acquisitions of teams and technologies. For example, Apple acquired an Israeli AI startup in audio technology in early 2026, reinforcing its AI capabilities. This new wave of mergers and acquisitions is reshaping the market landscape: larger consolidated players gain scale advantages and access to new technologies, while consolidation opens additional exit pathways for investors through company sales. As a result, M&A activity supports the rejuvenation of the ecosystem, allowing the most successful startups to either integrate into larger businesses or strengthen positions through mergers.
Russia and the CIS: Local Initiatives Amid Global Trends
Against the backdrop of a global revival, the venture market in Russia and neighboring countries is progressing more cautiously, but steps are being taken to stimulate it. By the end of 2025, the volume of venture investments in Russia decreased by approximately 18%, totaling around $146 million (compared to a nearly 50% growth in the global market over the same period). The number of deals decreased by a quarter, and nearly all investments were domestic—foreign capital is almost nonexistent in the region. Nevertheless, private investors and funds have acted as key drivers: they have increased investments, compensating for a reduction in activity from state programs and corporate venture units. About 70% of deals were attributed to projects from Moscow, with the most significant growth noted in artificial intelligence and machine learning startups (approximately $70 million was invested in this sector, nearly half of the entire market).
Despite external pressures, new funds and initiatives aimed at supporting tech companies are emerging in Russia and the CIS. Investment holdings with substantial equity capital are being established based on reorganized state structures: for example, the recently created company 'Venture Investments' has been entrusted with management of assets amounting to tens of billions of rubles from former 'RUSNANO' and VEB projects, to continue financing IT startups in the Far East. Furthermore, large private groups are forming industry-specific funds: for example, the 'Voskhod' fund (supported by Interros) invested 250 million rubles in a developer of industrial 3D printers, while several new venture partnerships are forming to support import-substitution solutions and innovations amid sanctions. The startup ecosystems in Kazakhstan, Uzbekistan, and other neighboring countries are also trying to attract investor attention— for instance, the volume of venture investments in Kazakhstan's AI sector has increased several times in the last year, reaching record levels (over $70 million). Although the scale of regional markets cannot compare to global ones, these local efforts are vital for the development of technologies in this geography.
Market participants in Russia are pinning their hopes on revitalizing venture activity in 2026 on improved macroeconomic conditions. A possible reduction in the key interest rate and the emergence of successful local IPOs or share sale transactions could enhance the attractiveness of investments in startups. For now, in the absence of stable exits, investors in the region are focusing on relatively mature projects with revenue and clear business models, where risks are more predictable. However, even in this challenging environment, interest in technology in Russia and the CIS remains, and the local venture market strives to adopt the best global practices and trends within its means.
Cautious Optimism: Quality Growth Ahead
At the start of 2026, the venture industry is in a state of moderate optimism. After a period of turbulence, a noticeable recovery is underway: large funds are investing again, high-profile deals and successful IPOs are restoring confidence among market participants. However, the lessons of previous years have led to a more measured approach— even amid the boom, investors are carefully selecting projects, prioritizing the quality of the team, the sustainability of the business model, and the potential for profitability. This is especially true for overheated segments, such as artificial intelligence, where grandiose valuations coincide with heightened attention to real commercial metrics.
As a result, the global startup market is entering 2026 both inspired and cautious. On the one hand, record funding levels, the return of 'long' money, and expanded exit opportunities all create a solid foundation for the next cycle of technological development. On the other hand, risks of overheating in specific niches persist, and macroeconomic and geopolitical factors require vigilance. Nonetheless, the overall trend is positive: venture capital continues to function as a driver of innovation, and the startup ecosystem globally is moving toward more mature and balanced growth. In the coming months, investors and entrepreneurs will seek to capitalize on the opportunities that have arisen, while adhering to the principles of cautious optimism and focusing on the long-term value of the companies created.
