Global Startup and Venture Capital News for September 16, 2025: Mega-Rounds in AI, IPO Revitalization, New Funds, and Key Deals Across All Sectors for Professional Investors.
By mid-September 2025, the global venture capital market continues to steadily recover after several years of decline. Investors across all regions have ramped up funding for technology companies at all stages of development—from early seed investments to IPO preparations. In the first six months of 2025, startups in North America raised approximately $145 billion, which is about 43% more than the previous year and marks a record high since 2021. Against the backdrop of improved macroeconomic conditions and increased interest in new technologies, confidence in the venture market is strengthening: deals are increasing in size and span a wide array of sectors—from artificial intelligence and fintech to biotechnology and defense. At the same time, caution remains: funding is primarily directed to a limited circle of the most promising projects to avoid overheating in specific niches.
The venture boom is being observed in all regions. The U.S. continues to lead, accounting for about two-thirds of the global investment volume (with a particular dominance in AI). In the Middle East, funding volumes have doubled over the year, fueled by multi-billion projects in the Gulf countries. Europe is undergoing structural shifts; for example, Germany has surpassed the UK in total venture deal volume for the first time in a decade, though Europe's share of global VC has slightly decreased. India and Southeast Asia maintain an investment boom, powered by foreign funds, while activity in China remains subdued due to domestic constraints. The startup scenes in Africa and Latin America are also revitalizing, attracting increasing capital and creating new growth avenues outside traditional tech hubs. Meanwhile, startups in Russia and the CIS are striving to develop parallel to the global market: despite external limitations, new funds and support programs are being launched in the region.
Below are the key trends and events in the venture market as of September 16, 2025:
- The Return of Mega-Funds and Major Investors. The largest venture players are forming record-sized funds and increasing investments, replenishing the market with capital and fueling appetite for risk.
- Record Financing Rounds and a New Wave of "Unicorns." Unusually large deals this year are elevating startup valuations to unprecedented levels, particularly in the AI and robotics segments.
- Revitalization of the IPO Market. A series of successful public listings for technology companies indicates the opening of an "exit window" and the return of liquidity to the venture market.
- A Wave of Consolidation and M&A Deals. Major mergers, acquisitions, and strategic investments are transforming the industry, creating new exit routes and accelerating growth for companies.
- Diversification of Sector Focus. Venture capitalists are investing not only in AI but also in fintech, green technologies, biotech, defense developments, and even crypto-startups, broadening market horizons.
- A Renaissance for the Crypto Industry. The rally in the digital asset market has rekindled investors' interest in blockchain projects, leading to new large financing rounds and even public listings in the crypto sector.
- A Boom in Investments in Defense and Space. Geopolitical factors are driving capital inflow into defense-tech and space projects, making these fields a new priority for venture funds.
- Local Initiatives in Russia and the CIS. New funds and legislative proposals aimed at supporting startups are being launched in the region, with local projects starting to attract foreign capital as they gradually integrate into global trends.
The Return of Mega-Funds: Big Money Back in the Market
The largest investment players are re-entering the venture arena, signaling a new wave of risk appetite. After a hiatus, the Japanese conglomerate SoftBank is launching its third Vision Fund with a volume of approximately $40 billion to invest in advanced sectors (with a focus on artificial intelligence and robotics). Sovereign funds from Gulf countries are also reviving, pouring oil dollars into technology initiatives and state mega-projects, establishing their own tech hubs in the Middle East. Concurrently, numerous new venture funds are being established globally, attracting substantial institutional capital for investments in high-tech areas.
- Veritas Capital Fund IX – $14.4 billion. The American fund focused on technology and defense has closed a new fund at a record amount, demonstrating a high level of trust from major institutional investors.
- Great Hill Partners IX – $7 billion. One of the largest growth funds targeting technology companies has attracted significant funds, substantially exceeding its initial target size at the closing of the new fund.
Notably, the venture firm Andreessen Horowitz is also planning a mega-fund worth $20 billion, entirely dedicated to investments in AI companies—if successfully raised, this would become the largest fund in the firm’s history. The increased influx of capital from such "mega-funds" is leading to a sharp rise in the amount of unallocated capital ("dry powder") in the market. This enhances competition for the best startups and supports high valuations for promising companies. The presence of large institutional funds itself reinforces confidence that the influx of capital into the sector will continue.
Mega-Rounds in AI and a New Wave of "Unicorns"
The artificial intelligence sector and other advanced technologies remain the main drivers of the current venture boom, demonstrating record financing volumes. Investors are eager to secure positions among the leaders of a new technological cycle, directing colossal sums to the most promising projects. In recent weeks, several record deals have confirmed this trend:
- OpenAI (USA) – $8.3 billion. The AI technology developer raised one of the largest rounds in history at a valuation of about $300 billion. Together with Microsoft, the company is spinning off a business unit and preparing it for an IPO.
- Mistral AI (France) – €1.7 billion. The generative AI startup secured record funding for Europe, raising its valuation to €11.7 billion. The leading investor was the Dutch corporation ASML, highlighting Europe’s ambitions in AI infrastructure.
- PsiQuantum (USA) – $1 billion. The quantum startup attracted the largest investment in its segment, with a valuation of approximately $7 billion, confirming investors' readiness to finance technologies beyond classical artificial intelligence.
New directions capable of attracting giant rounds are also emerging. For instance, the company Figure AI (USA), which develops humanoid robots, is reportedly negotiating a round of approximately $1.5 billion with a potential valuation of around $40 billion—an unprecedented level for a robotics startup. Such mega-rounds are creating a generation of new "unicorns" and accelerating the emergence of future technology leaders. Despite warnings of potential market overheating, investor appetite for advanced projects remains high. It is noted that not only applied AI products are being financed but also the infrastructure for them—specialized chips, cloud platforms, and data storage solutions necessary for scaling the AI ecosystem.
IPO Market Revitalizes: An Opening for Exits
After the downturn of 2022-2023, the IPO market is once again showing signs of life. Successful public offerings of several technology companies have demonstrated that investors are once again willing to buy shares in rapidly growing startups at high valuations. This new wave of IPO debuts is strengthening venture funds' confidence in the potential for profitable exits.
- Chime. The American fintech unicorn (neobank) went public on Nasdaq in June; the stock price jumped 30% on its first trading day, confirming high investor demand for promising fintech companies.
- Klarna. The Swedish fintech giant debuted on the New York Stock Exchange, becoming one of the first European "unicorns" to list in the U.S. after a lengthy pause. The shares were sold above the original range and increased by more than 25% in the first hours of trading.
- Via. The American public transport technology developer raised approximately $493 million during its IPO on the NYSE, garnering a valuation of around $3.5 billion. This debut showcased the market's readiness to invest in new segments of transportation services.
The success of these listings indicates the return of liquidity to the venture market. Following the first "harbingers" of the IPO surge, other large startups are preparing for public offerings—from the American payment service Stripe (which reportedly has already submitted a confidential IPO application) to highly valued AI companies like Databricks. The revival of IPO activity is crucial for the entire ecosystem: successful exits allow venture funds to realize profits and redirect freed-up resources into new projects, fueling the next growth cycle.
A Wave of Mergers and Acquisitions (M&A)
High valuations of startups and fierce competition for markets are pushing the industry towards a new wave of consolidation. Major tech corporations are once again ready to spend billions on strategic acquisitions to strengthen their positions and gain access to cutting-edge developments. A series of high-profile M&A deals in recent months confirms this trend:
- Google → Wiz – ~$32 billion. The Alphabet corporation acquired the Israeli cloud cybersecurity startup to strengthen its data protection and cloud services capabilities.
- SoftBank → Ampere – ~$6.5 billion. The Japanese holding acquired American server processor developer Ampere Computing, aiming to become a leader in the chip segment for cloud and enterprise data centers.
The activation of acquisition deals is changing the balance of power in the industry. Mature startups are either merging with each other or becoming targets for corporations. For venture investors, this opens opportunities for long-awaited exits through the sale of portfolio companies to strategic players. At the same time, consolidation allows for the removal of redundant players from the market, focusing resources on the most promising directions.
Diversification: Fintech, Biotech, and Green Projects
Venture investments in 2025 are no longer concentrated solely on AI; capital is actively flowing into other sectors. After last year's decline, fintech is gaining momentum again: large financial technology startups are attracting substantial sums and renewing partnerships with banks. Simultaneously, interest in climate and environmental projects is on the rise—from renewable energy and energy storage systems to electric vehicles and carbon footprint reduction technologies. Gradually, appetite for biotechnology is also returning: the emergence of new drugs and digital health services is once again attracting capital as company valuations in the sector recover.
Recent examples of significant deals outside the AI sector confirm the breadth of the venture market:
- Kriya Therapeutics – $320 million. The American biotech startup specializing in gene therapy raised $320 million in a Series D round.
- Odyssey Therapeutics – $213 million. The biopharmaceutical company developing new drugs for serious diseases secured $213 million in a Series D round.
- Nitricity – $50 million. The California-based eco-tech startup received $50 million to develop its zero-emission fertilizer production technology.
The expansion of sector focus is making the startup ecosystem more resilient, reducing the risk of overheating in specific niches. Investors are deliberately seeking new growth points beyond the ultra-popular AI, which is fostering the emergence of promising companies across a variety of fields.
A Renaissance for the Crypto Industry
The digital asset market is experiencing a new boom in the second half of 2025, which has revived venture capital interest in crypto startups. Bitcoin has already surpassed the historic threshold of $120,000, reaching an all-time high while major altcoins are quickly rising alongside it. A year ago, the blockchain sector faced a crisis of trust and stringent regulatory pressures; however, the current rally has radically shifted investor sentiment.
Major funds that previously paused investments in crypto projects are once again entering the market. Massive financing rounds are being secured, and some players are even going public. For example:
- Circle. The fintech company operating in the digital currency space successfully conducted an IPO, becoming one of the first major “crypto-friendly” firms on the exchange.
- Gemini. The cryptocurrency exchange attracted $50 million from Nasdaq Ventures ahead of its public stock offering.
- BlackRock. The investment giant launched an exchange-traded fund (ETF) linked to Bitcoin, marking a significant signal of institutional recognition of crypto assets.
All these developments indicate that the blockchain industry is once again viewed by investors as a promising avenue for growth.
Defense Technologies and Space in the Limelight
The geopolitical tensions of recent years have led to an unprecedented surge in investments in the defense and aerospace sectors. Investments in defense-tech startups have multiplied: significant rounds, such as approximately $2.5 billion raised by the American autonomous systems manufacturer Anduril, demonstrate the willingness of venture capital to finance security projects. Investors (and, in some cases, governments) are proactively supporting developments in drones, cybersecurity, military AI systems, as well as new space programs and satellite platforms.
Defense and space are quickly becoming a new priority for venture funds. In the U.S., several “unicorns” have emerged in aerospace technologies, while European defense startups are receiving serious capital inflow amid shifting geopolitics. For instance, the California-based manufacturer of standardized satellite platforms Apex raised $200 million in a Series D round to accelerate the mass production of spacecraft in response to increasing demand. Overall, venture investments in “power” sectors promise not only commercial benefits but also strategic advantages, making them attractive even to relatively conservative investors.
Russia and the CIS: Local Trends Amid Global Markets
Despite external limitations, the startup scene in Russia and neighboring countries is developing in parallel with global trends. In 2025, new sources of capital and initiatives to support the technology sector have emerged in the region:
- New Funds. In Russia, the private fund Nova VC (approximately 10 billion rubles) has commenced operations, and in Tatarstan, an industrial venture fund “New Chemical Industry” (~5 billion rubles) has been established to finance regional innovation projects.
- Government Support. Authorities are discussing a separate law on venture investments. Among the stated goals is to stimulate innovation and increase R&D expenditures to 2% of GDP by 2030 (almost doubling the current level).
- International Success. Despite sanctions barriers, teams from the CIS continue to attract foreign funding. For example, the machine learning service Vocal Image, founded by expatriates from Belarus and operating in Estonia, raised approximately $3.6 million from a French venture fund—demonstrating that promising projects from the region can find support on the global stage.
Although the volume of venture investments in Russia and the CIS still lags behind global leaders, all necessary elements of the ecosystem are forming: local funds, accelerators, government programs, and international partnerships. This creates a foundation for the emergence of homegrown “unicorns” and deeper integration of regional startups into the global technological agenda.
