Startup and Venture Investment News — Thursday, September 18, 2025 — AI Mega-Rounds, IPOs, and Global Market Expansion

Current Startup and Venture Capital News for September 18, 2025: Mega Rounds in AI, IPO Resurgence, Global Venture Capital Expansion, New Funds and Deals in the US, Europe, Asia, and CIS

By mid-September 2025, the global venture capital market is steadily recovering after several years of decline. Investors across all regions are once again actively funding technology companies at all stages of development—from seed rounds 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 since 2021. Against the backdrop of an improving macroeconomic situation and growing interest in innovation, trust in the venture market has strengthened: deals are increasing in size and covering a wide range of industries—from artificial intelligence and fintech to biotechnology and defense. At the same time, selectivity remains: capital is mainly directed toward the most promising projects to avoid overheating certain niches.

The venture boom is observed across all regions. The US continues to lead, accounting for about two-thirds of global investment volume (especially dominating in the AI sector). In the Middle East, financing volumes have doubled year-over-year due to multi-billion-dollar tech projects from Gulf states. Structural shifts are occurring in Europe; for instance, Germany has, for the first time in a decade, surpassed the UK in total venture deal volume, although Europe’s share of global VC has slightly decreased. India and Southeast Asia continue to experience an investment boom, fueled by foreign funds, while activity in China remains subdued due to internal restrictions. The startup ecosystems in Africa and Latin America are also reviving, attracting increasing capital and creating new growth points outside traditional tech hubs. Meanwhile, startups in Russia and the CIS aim to develop in parallel with the global market: despite external constraints, new funds and support programs are launching in the region.

Below are the key trends and events in the venture market as of September 18, 2025:

Return of Mega Funds and Large Investors. Leading venture players are forming record-sized funds and increasing investments, re-saturating the market with capital and fueling risk appetite.
Record Funding Rounds and a New Wave of Unicorns. Unusually large deals this year are driving startup valuations to unprecedented levels, particularly in the segments of artificial intelligence and robotics.
Revival of the IPO Market. A series of successful technology company public offerings indicates the opening of an “exit window” and the return of liquidity to the venture market.
Wave of Consolidation and M&A Deals. Major mergers, acquisitions, and strategic investments are transforming the industry, creating new exit opportunities and accelerated growth for companies.
Diversification of Industry Focus. Venture capitalists are investing not only in AI but also in fintech, green technologies, biotech, defense developments, and even crypto startups, expanding market horizons.
Renaissance of the Crypto Industry. A rally in the digital asset market has rekindled investors' interest in blockchain projects, leading to significant funding rounds and even public offerings in the crypto sector.
Surge in Defense and Space Investments. Geopolitical factors are driving capital inflow into defense-tech and space projects, making these sectors a new priority for venture funds.
Local Initiatives in Russia and CIS. New funds and legislative initiatives to support startups are emerging in the region, while local projects begin attracting foreign capital, gradually integrating into global trends.

Return of Mega Funds: Big Money Back in the Market

The largest investment players are once again entering the venture arena, signaling a new surge in risk appetite. Japanese conglomerate SoftBank is launching its third Vision Fund, amounting to about $40 billion, targeting advanced technologies (focused on AI and robotics). Sovereign funds from Gulf states are also becoming more active; "petrodollars" are being directed toward tech initiatives and government megaprojects, creating their own tech hubs in the Middle East. Simultaneously, dozens of new venture funds are emerging worldwide, attracting significant institutional capital for investments in startups.

Veritas Capital Fund IX — $14.4 billion. An American fund specializing in technology and defense, has closed a new fund at a record amount, demonstrating a high level of trust from large institutional investors.
Great Hill Partners IX — $7 billion. One of the largest growth funds focused on tech companies raised $7 billion in a new fund, significantly exceeding the initially planned size and indicating increased interest in late stages.

The return of such "mega funds" means a sharp increase in the amount of available capital ("dry powder") in the market. This intensifies competition for the most promising deals and supports high valuations for rapidly growing companies. The presence of large institutional investors instills confidence in the industry regarding the continued inflow of capital.

Mega Rounds in AI and a New Wave of Unicorns

The field of artificial intelligence and related advanced technologies remains the main driver of the current venture boom, demonstrating record funding volumes. Investors are eager to position themselves in the leaders of the new technology cycle, directing colossal sums into the most promising projects. At the beginning of September, several large-scale deals confirmed this trend:

OpenAI (USA) — $8.3 billion. The AI technology developer secured one of the largest venture rounds in history, raising its valuation to ~$300 billion; alongside Microsoft, the company is spinning off its commercial division and preparing it for an IPO.
Mistral AI (France) — €1.7 billion. This generative AI startup obtained record funding for Europe at a valuation of approximately €11.7 billion; the leading investor was Dutch corporation ASML, highlighting Europe's commitment to enhance technological sovereignty.
PsiQuantum (USA) — $1 billion. The quantum startup attracted the largest investment in its segment (valuation around $7 billion), proving investors are ready to fund projects beyond classical AI.
Figure AI (USA) — $1 billion+. The humanoid robotics developer closed a Series C round exceeding $1 billion, achieving a valuation of around $39 billion—a precedent level for a robotics startup and the largest funding round in robotics in 2025.

Such mega rounds are forming a new generation of unicorns and accelerating the emergence of future tech leaders. Although experts warn of the risk of overheating, investor appetite for breakthrough startups remains high. Notably, not only applied AI products are being funded, but also the infrastructure for them—from specialized chips and cloud platforms to innovative data storage systems necessary for scaling the AI ecosystem.

IPO Market Revival: The Window for Exits is Open

After a prolonged hiatus during 2022–2023, the IPO market is beginning to awaken. Successful public offerings from several technology companies have shown that investors are again willing to buy shares of rapidly growing startups at high valuations. The new wave of stock market debuts strengthens confidence among venture funds in profitable exit possibilities.

Chime. The American fintech unicorn (neobank) went public on Nasdaq in June; the share price soared 30% on the first trading day, confirming high demand for promising financial technology companies.
Klarna. The Swedish fintech giant became one of the first European unicorns to list on the NYSE after a long pause; its shares were sold above the initial range and gained more than 25% in the first hours of trading.
Via. An American developer of public transport technologies raised ~$493 million in its IPO on the NYSE, achieving a valuation of around $3.5 billion and demonstrating the market's readiness to invest in new segments of transport services.

The success of these listings signals a return of liquidity to the venture market. Following these initial "harbingers," other major startups are preparing to go public—from the American payment service Stripe to highly valued AI companies like Databricks. The revival of IPO activity is critical for the entire ecosystem: successful exits allow venture funds to realize profits and direct freed-up funds into new projects, fueling the next cycle of startup growth.

Wave of Mergers and Acquisitions (M&A)

Rising valuations of startups and fierce competition for markets are prompting a new wave of consolidation in the industry. Major tech companies are once again willing to spend billions on strategic acquisitions to strengthen their positions and secure advanced developments. Recent major M&A deals confirm this trend:

Alphabet (Google) → Wiz — ~$32 billion. Alphabet Corporation acquired the Israeli cloud cybersecurity startup, making the largest purchase in its history to bolster its position in protective solutions for multi-cloud services.
SoftBank → Ampere — ~$6.5 billion. The Japanese holding company purchased the American server processor developer Ampere Computing to enter the ranks of leaders in the cloud and enterprise data center chip market.

The surge in acquisitions is altering the balance of power in the industry. Mature startups are either merging with each other or becoming targets for corporations. For venture investors, consolidation opens much-anticipated exit opportunities through the sale of portfolio companies to strategic players. At the same time, the consolidation allows for the removal of excess competitors from the market and focuses resources on the most promising directions.

Diversification: Fintech, Biotech, and Green Projects

Venture investments in 2025 are no longer solely concentrated in AI—capital is actively flowing into other sectors. After last year’s downturn, fintech is regaining momentum: major fintech startups are attracting significant sums and renewing partnerships with banks. Simultaneously, interest in climate and environmental projects is increasing—from renewable energy and energy storage systems to electric vehicles and technologies reducing carbon footprints. Gradually, appetite for biotechnology is also returning: successes in developing new drugs and digital medtech services are starting to attract capital again as company valuations recover.

Recent examples of significant deals outside the AI sector confirm the breadth of the venture market:

Kriya Therapeutics – $320 million. This American biotech startup specializing in gene therapy raised $320 million in a Series D round to accelerate the development of its portfolio of innovative drugs.
Odyssey Therapeutics – $213 million. This biopharmaceutical company developing treatments for serious illnesses secured $213 million in a Series D round, reflecting the ongoing interest of venture capital in biomedical innovations.
Nitricity – $50 million. A California eco-technology startup raised $50 million for the development of innovative zero-emission fertilizer production, demonstrating demand for green projects.

The expansion of industry focus makes the startup ecosystem more resilient, reducing the risk of overheating in individual segments. Investors are intentionally seeking new growth points beyond the extremely popular AI, encouraging the emergence of promising companies across various industries.

Renaissance of 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 surpassed the historic threshold of $120,000, reaching an absolute peak, and leading altcoins are rapidly rising in value. Just a year ago, the blockchain sector faced a crisis of confidence and stringent regulatory pressure; however, the current rally has dramatically changed investor sentiment.

Major funds that previously paused investments in crypto projects are once again stepping into this market. Significant funding rounds are being secured, and some players are even going public. For instance:

Circle. A fintech company in the digital currency sector (issuer of the USDC stablecoin) successfully conducted an IPO, becoming one of the first major "crypto-friendly" firms to debut on the stock exchange.
Gemini. The cryptocurrency exchange raised $50 million from Nasdaq Ventures ahead of its own public share offering, signaling traditional exchanges' interest in crypto assets.
BlackRock. The investment giant launched an exchange-traded fund (ETF) linked to Bitcoin, which serves as an important indication of institutional recognition of cryptocurrencies on Wall Street.

All these events demonstrate that the blockchain industry is once again being perceived by investors as a promising growth direction.

Defense Technologies and Space in the Spotlight

The geopolitical tensions of recent years have led to an unprecedented increase in investments in defense and aerospace sectors. Funding for defense-tech startups has multiplied: major rounds like ~$2.5 billion raised by US autonomous systems developer Anduril indicate venture capital's readiness to finance security projects. Investors (and, in some cases, governments) are actively supporting developments in drones, cybersecurity, military AI systems, as well as new space programs and satellite platforms.

The areas of defense and space are quickly becoming a new priority for venture funds. Several new unicorns in the aerospace tech sector have emerged in the US, while European defense startups have received a significant influx of funds against the changing geopolitical landscape. For example, California-based standardized satellite platform manufacturer Apex raised $200 million in a Series D round to accelerate mass production of its spacecraft in response to rising demand. Overall, venture investments in "power" industries promise not only commercial returns but also strategic advantages, making these projects appealing even to relatively conservative investors.

Global Expansion of Venture Capital

The surge in venture investments in 2025 has a truly global character. Beyond traditional hubs like Silicon Valley, New York, and London, multi-million dollar rounds are now occurring in new locations for the industry. Regional diversity within the startup ecosystem is growing, and investors are increasingly seeking opportunities worldwide.

Middle East. Sovereign funds in Gulf states have collectively invested billions of dollars in technologies (startups in the region raised ~$2 billion in the first half of 2025 alone, a growth of around 130% year-over-year). Countries like the UAE and Saudi Arabia are producing their own unicorns, and Dubai has become one of the new venture capital attraction points.
India and Southeast Asia. The startup boom in India continues, while Southeast Asia demonstrates record growth rates. International funds are scaling their presence; for example, the IFC invested $137 million in an Indian electric bus project, and major venture capitalists from Silicon Valley are increasing funding for Indian AI startups. In Southeast Asia, significant deals are taking place in e-commerce, fintech, and edtech, attracting both regional and global capital.
China. The Chinese startup ecosystem remains one of the largest in the world despite tightening regulations in recent years. Government programs are directing significant funds into domestic AI projects and chip manufacturing. Among the major deals of 2025 is a round of about $200 million for AI-chip manufacturer Biren Technology, demonstrating investors' willingness to invest even under geopolitical pressure.

New points of innovation are also emerging in Africa and Latin America. Growing markets from Nigeria and Kenya to Brazil and Mexico are forming their own startup ecosystems and attracting global investors' attention. Promising companies can now emerge anywhere—from Nairobi and Lagos to Monterrey and Santiago. For venture funds, this expands the horizons of opportunity searching and opens new growth prospects in different corners of the globe.

Russia and CIS: Local Trends Amidst Global Market Developments

Despite external constraints, 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 tech entrepreneurship have emerged in the region:

New Funds. A private fund Nova VC started operations in Russia (with an approximate volume of 10 billion rubles), and an industry venture fund "New Chemical Industry" (~5 billion rubles) was established in Tatarstan to finance regional innovation projects.
Government Support. Authorities are discussing a separate law on venture investments. Announced goals include stimulating innovation and increasing R&D spending to 2% of GDP by 2030 (almost doubling the current level).
International Success. Despite sanctions barriers, teams from the CIS continue to attract funds abroad. For instance, the machine learning service Vocal Image, founded by Belarusian expatriates and operating in Estonia, received ~$3.6 million from a French venture fund—proving that promising projects from the region can find support on the global stage.

Although the volume of venture investments in Russia and the CIS currently falls behind global leaders, all the necessary elements of the ecosystem are being formed: local funds, accelerators, government programs, and international partnerships. This foundation creates prerequisites for the emergence of homegrown unicorns and a deeper integration of regional startups into the global technological agenda.