Current Startup and Venture Capital News for Thursday, November 27, 2025: AI Rounds, Megafunds, and Tech Market Trends. Analytical Overview for Venture Investors and Funds.
By the end of November 2025, the global venture capital market is steadily emerging from the prolonged downturn experienced in recent years. According to analysts' estimates, the total volume of venture investments in the third quarter of 2025 reached approximately $97 billion—38% higher than the previous year and the best quarterly result since 2021. The "venture winter" of 2022-2023 is behind, and the influx of private capital into tech startups is accelerating. Significant funding rounds and the emergence of new megafunds signal a return to risk appetite, although investors remain selective and cautious.
Venture activity is on the rise across nearly all global regions. The United States maintains its leadership, particularly in light of the explosive growth in the AI sector. Investments in the Middle East have surged dramatically over the past year, while Germany has surpassed the United Kingdom in total venture capital for the first time in a decade. The Asian landscape is uneven: India, Southeast Asia, and Gulf countries are attracting record amounts of capital against a backdrop of relative decline in China. New tech hubs are forming in Africa and Latin America, and the startup ecosystems in Russia and CIS countries are making efforts to keep pace despite external constraints. Overall, the global picture indicates the onset of a new venture boom, although investors continue to focus on the most promising and resilient projects.
Below are the key events and trends shaping the venture market on November 27, 2025:
- The return of megafunds and large investors.
- Record AI rounds and a new wave of unicorns.
- A revival in the IPO market.
- Diversification of venture capital sector focus.
- A wave of consolidation and M&A activities.
- A renewed interest in crypto startups.
The Return of Megafunds: Big Money Back on the Market
The leading investment funds and players are confidently returning to the venture arena, showcasing a renewed appetite for risk. Following a downturn in 2022-2024, major firms are resuming capital fundraising and announcing record-sized funds. Japan's SoftBank has reported the launch of its Vision Fund III, with approximately $40 billion focused on advanced technologies (AI, robotics, etc.). In the U.S., venture firm Andreessen Horowitz is planning a fund of about $20 billion for investments in late-stage AI startups. Concurrently, sovereign wealth funds from the Gulf are expanding their presence in the tech sector: Middle Eastern investors are pouring billions of dollars into promising startups worldwide and launching development programs for their tech hubs. New venture funds are appearing across all regions, attracting significant institutional capital for investment in high-tech projects. The influx of this "big money" is filling the market with liquidity and intensifying competition for the most promising deals while instilling confidence in further capital inflows.
Record Investments in AI: A New Wave of Unicorns
The artificial intelligence sector remains the primary driver of the current venture boom, showcasing record levels of funding. Since the beginning of 2025, AI startups have collectively raised over $160 billion just in the U.S. (about two-thirds of all venture investments in the country), and by the end of the year, global investments in AI are expected to exceed $200 billion—a level never seen before. The total valuation of the ten largest AI companies has approached an astronomical $1 trillion. The colossal influx of capital into AI is accompanied by the emergence of multiple new unicorns. In October 2025 alone, around 20 startups with valuations exceeding $1 billion entered the club of unicorns—representing a record monthly addition. Investors are eagerly financing projects in generative AI, AI infrastructure, autonomous systems, and other cutting-edge fields. Nearly every week, news emerges of a new megaround: for instance, in November, U.S. cloud AI infrastructure company Lambda raised approximately $1.5 billion; predictive market platform Kalshi secured $1 billion, and multimodal systems developer Luma AI raised $900 million. While the explosive growth fosters optimism about the technologies' potential, experts are warning of signs of overheating in certain niches. This has prompted investors to be more discerning about valuations and focus on genuinely high-quality projects.
The IPO Market Rises: A New Wave of Public Offerings
The global IPO market is gradually emerging from a prolonged lull and gaining momentum. After nearly two years of inactivity, public offerings are once again becoming a sought-after exit mechanism for venture funds. In Asia, Hong Kong has initiated a new wave of IPOs: in recent months, several large tech companies have gone public, collectively raising billions of dollars in investments. For instance, Chinese company CATL raised about $5 billion, confirming investor interest in IPOs in the region. The situation is also improving in the U.S. and Europe, with U.S. fintech unicorn Chime recently debuting on the stock market with its shares rising roughly 30% on the first day of trading. Soon after, platform Figma conducted an IPO, raising about $1.2 billion at a valuation of approximately $20 billion.
The crypto industry is also attempting to capitalize on the revival: fintech company Circle successfully went public last summer (with a market capitalization of around $7 billion), and crypto exchange Bullish has filed for listing in the U.S., targeting a valuation of approximately $4 billion. The revival of IPOs is crucial for the venture ecosystem: successful public exits enable funds to recoup invested capital and validate the sustainability of financed business models, restoring liquidity to the market and strengthening investor confidence.
Diversification of Sectors: Investment Horizons Expand
In 2025, venture investments are covering a much broader array of sectors and are no longer concentrated solely on AI. Following the downturn of the previous year, there has been a revival in fintech: new fintech startups are securing large rounds of funding, particularly in payment systems and decentralized finance (DeFi). American fintech decacorn Ramp raised $300 million at a valuation of approximately $32 billion (its fourth round in 2025), indicating a return of investor interest in fintech. Significant growth is also being observed in climate ("green") technologies in response to the global demand for sustainable development: investors are funding renewable energy and carbon reduction projects.
Interest in biotechnology and medtech is also returning: major funds (particularly in Europe) are creating specialized tools to support pharmaceutical and medical startups. Space and defense technologies are coming to the forefront—geopolitical contexts and the successes of private space companies are driving investments in satellite constellations, rocket manufacturing, drone systems, and military AI. The sector focus of venture capital has significantly expanded, increasing the market's resilience: even if the excitement surrounding AI diminishes, other sectors are poised to carry the baton of innovation.
A Wave of Consolidation and M&A: The Industry Transforms
High valuations for startups and stiff competition in the markets are prompting a new wave of consolidation. Major mergers and acquisitions are once again taking center stage, reshaping the power dynamics within the industry. Tech giants are eager to acquire cutting-edge developments and talent, actively pursuing promising companies. A notable example is Google’s agreement to acquire Israeli cybersecurity startup Wiz for about $32 billion, marking a record for the Israeli tech sector. Such megadeals showcase corporations' willingness to invest in innovation to bolster their positions. Overall, the uptick in M&A activities and significant deals signals market maturation. Mature startups are merging with each other or becoming targets for acquisitions, while venture funds are gaining opportunities for long-awaited profitable exits. Consolidation accelerates the growth of the most promising companies while also "cleansing" the ecosystem of weaker players, thereby improving the market.
A Renewed Interest in Crypto Startups: The Market Awakens from the "Crypto Winter"
After a prolonged "crypto winter," the market for blockchain startups has noticeably revived. In the autumn, funding for crypto projects reached its highest level in recent years. Large funding rounds are occurring in Web3 infrastructure and decentralized finance (DeFi), and venture capital is once again flowing into promising blockchain platforms. The growth of the cryptocurrency market has also played a role: Bitcoin has surpassed $100,000, boosting investor enthusiasm. Venture funds, which had long remained on the sidelines, are gradually returning to the crypto sector; new specialized funds and incubators for Web3 startups are emerging. Naturally, volatility and regulatory risks persist, but cautious optimism is now evident: participants are eager not to miss this new growth wave. Cumulative investments in crypto startups in 2025 have already exceeded $20 billion—more than double that of 2024—and may reach $25 billion by year-end. This signals a renaissance in the industry: after the market was cleansed of speculation, the focus has shifted to real use cases for blockchain, attracting "smart" capital.
Conclusion: Cautious Optimism and Sustainable Growth
By the end of 2025, the venture capital industry is characterized by cautious optimism. Successful IPOs and major funding rounds demonstrate that the period of decline is over and the startup ecosystem is undergoing a new upswing. However, investors remain prudent: capital is increasingly directed towards startups with sustainable business models, proven economics, and real profit prospects. Substantial investments in AI and other sectors instill confidence in continued market growth, but players are keen to avoid repeating the errors of past "bubbles" by carefully selecting projects and honestly assessing their potential. The return of large investors, the emergence of new unicorns, and successful IPOs have laid the foundation for another wave of innovation, but the discipline and prudence of investors will shape the nature of this growth. Despite an increased appetite for risk, the focus remains on the quality growth of startups and the long-term sustainability of the market.
