Global Startup and Venture Investment News for November 13, 2025: New Unicorns, IPO Market Revival, and Crypto Startup Resurgence. In-Depth Review for Venture Investors and Funds.
By mid-November 2025, the global venture market is confidently recovering after a period of stagnation in recent years. Statistics show that in the third quarter of 2025, the global volume of venture investments reached approximately $97 billion (nearly 40% higher than the previous year) – the best quarterly figure since 2021, marking the fourth consecutive quarter of growth following the "venture winter" of 2022-2023. Investors globally are once again actively funding technology startups: record deals are being made, new IPOs are on the horizon, and major funds are bringing fresh capital to the market. Governments in various countries are also increasing their support for innovation, further stimulating the influx of private investments into the startup ecosystem.
Venture activity is on the rise across all regions. The United States continues to lead, generating around 60% of global investments (particularly strong funding is being directed to AI projects). In the Middle East, the volume of investments has nearly doubled over the year, creating new tech hubs supported by sovereign wealth funds. In Europe, a resurgence is evident: following recent periods, Germany has, for the first time, surpassed the United Kingdom in attracting venture capital. India and Southeast Asia are attracting record capital inflows amid a relative decline in activity in China. The startup scenes in Russia and other CIS countries are also striving to keep pace – new funds and programs are being launched in the region despite sanctions and other limitations. Overall, the market is experiencing a global venture boom, although investors remain selective and cautious when choosing projects.
Below are key events and trends defining the current agenda of the venture market as of November 13, 2025:
- The Return of Mega Funds and Large Investors. Leading venture players are raising record funds and actively investing in startups again, saturating the market with capital and enhancing the appetite for risk.
- Record Investments in AI and a New Wave of Unicorns. Unprecedented funding rounds are boosting valuations of startups to unseen heights, particularly in the field of artificial intelligence, leading to the emergence of numerous new unicorns.
- The Revival of the IPO Market. Successful public offerings of technology companies and new listing plans confirm that the long-awaited "window" for exits has reopened for venture investors.
- Diversification of Sectors: Not Just AI. Venture capital investments are flowing not only into the AI sector but also into fintech, climate projects, biotechnology, as well as space and defense technologies – expanding the investment focus.
- A Wave of Consolidation and M&A. Major mergers, acquisitions, and strategic deals are reshaping the industry landscape, creating new opportunities for exits and accelerated growth of companies.
- Renewed Interest in Crypto Startups. Following a prolonged "crypto winter," blockchain projects are once again attracting significant funding and attention from venture funds and large corporations.
- Local Focus: Russia and CIS Countries. New funds and initiatives for developing local startup ecosystems are emerging in the region, gradually attracting investor attention despite sanction-related limitations.
The Return of Mega Funds: Big Money Back in the Market
The largest investment funds and institutional players are making a confident return to the venture arena, signaling a new wave of appetite for risk. Following a decline in VC fundraising during 2022-2024, leading firms are resuming capital raises and launching new mega funds, demonstrating faith in the market's potential. For instance, Japan's SoftBank announced the launch of its Vision Fund III, valued at about $40 billion, focusing on advanced technologies (AI, robotics, etc.). In the US, Andreessen Horowitz is raising a record fund of approximately $20 billion, which will be the largest in its history and one of the biggest in the industry, with a focus also on late-stage AI startups. Silicon Valley giant Sequoia Capital recently announced two new venture funds totaling about $950 million.
Sovereign funds from the Gulf countries have also become active: Middle Eastern states are pouring billions of dollars into high-tech projects around the world and launching large-scale government programs to support the startup sector. Simultaneously, dozens of new venture funds are emerging across all regions, attracting significant institutional capital for investments in technology companies. The return of such "megastuctures" means that startups will soon have even more opportunities to secure funding, while competition among investors for the best projects intensifies.
Record Investments in AI: A New Wave of Unicorns
The field of artificial intelligence remains the main driver of the current venture upswing, demonstrating record funding volumes. It is estimated that about half of all venture investments in 2025 are directed towards AI startups, with total global investments in AI potentially exceeding $200 billion by the year's end – an unprecedented level for the sector. In the United States alone, AI projects have received up to two-thirds of all venture capital since the beginning of 2025. The combined valuation of the ten largest companies in the AI sector has already approached $1 trillion. Investors explain the excitement by the promise that AI technologies will radically increase efficiency across numerous sectors and open multi-trillion dollar markets – from business automation to personal digital assistants. Despite warnings from experts about a possible "bubble," funds continue to ramp up investments, fearing they might miss out on the next technological revolution.
Unsurprisingly, the capital influx into AI is accompanied by the emergence of numerous new unicorns and the concentration of resources among leaders. Currently, approximately 70% of all venture investments in the US are concentrated in a select few companies leading the AI race. For example, French startup Mistral AI raised around $2 billion in September (a record round for Europe), while US-based OpenAI previously secured a one-time $13 billion investment – an unprecedented deal that skyrocketed the company's valuation to astronomical heights. Such mega rounds inflate startup valuations but simultaneously concentrate resources and talent in promising directions, laying the groundwork for future breakthroughs.
In recent weeks, several companies have announced large investments, confirming the return of "big checks" to the market. Among notable examples:
- Synthesia (UK) – $200 million at an estimated valuation of around $4 billion for the development of an AI-powered video generation service (the round was led by Alphabet's GV venture fund).
- Fireworks AI (US) – $250 million in a Series C round (valuation around $4 billion) to scale an AI platform in genomics and healthcare.
- Armis (US) – $435 million in a pre-IPO round at a valuation of $6.1 billion to enhance the cybersecurity platform for IoT devices (led by Goldman Sachs together with CapitalG).
The Revival of the IPO Market and Exit Perspectives
Amid rising valuations and capital inflows, technology companies are once again actively preparing to go public. After nearly two years of dormancy, a long-awaited surge in IPOs, as a primary exit strategy for venture funds, is underway. Several high-profile listings have confirmed the opening of a "window" of opportunities: for instance, US fintech unicorn Circle successfully conducted an IPO with an estimated valuation of around $7 billion – this debut has restored investor confidence in the market's appetite for new technology issuers. Following this, several large private companies are eager to take advantage of favorable market conditions. Insider sources indicate that ChatGPT creator OpenAI is contemplating its own IPO in 2026 with a potential valuation of up to $1 trillion, which would be unprecedented for the sector. The blockchain company ConsenSys (developer of the MetaMask wallet) is also preparing for a listing in 2026.
The improving market situation and the gradual alleviation of regulatory uncertainty (for example, the adoption of regulations regarding stablecoins and the prospects of approving Bitcoin ETFs) give startups confidence that the public market has once again become a viable mechanism for capital raising and exits for investors. Analysts forecast that the number of high-profile technology IPOs will grow over the next couple of years, provided that there remains strong demand from institutional investors for new listings. The return of successful IPOs is crucial for the venture ecosystem: profitable exits allow funds to lock in returns and allocate freed-up capital to new projects, thereby closing the venture investment cycle.
Diversification of Sectors: Not Just AI
In 2025, venture investments cover a significantly broader range of sectors and are no longer limited to just artificial intelligence. Following last year's decline, the fintech sector is experiencing a revival: large funding rounds are occurring not only in the US but also in Europe and emerging markets, boosting the growth of promising financial services. Climate projects are also attracting capital: for example, the Australian startup Uluu secured AUD 16 million for developing biodegradable plastic from seaweed – a testament to the global trend favoring sustainable technologies. Interest in space and defense developments is intensifying: Bulgarian company EnduroSat raised $104 million for the production of small communication satellites, while American defense startup Anduril Industries secured $2.5 billion in investments mid-year, doubling its valuation to $30 billion.
There is a renewed appetite for biotechnology and medtech: new developments in pharmaceuticals and digital health are once again attracting capital as the sector stabilizes following valuation corrections. Notably, the healthcare sector emerged as the third largest in terms of venture investments at the end of the third quarter (around $15-16 billion). One of the latest examples is the American startup Forward Health, working in the field of preventive medicine: the company raised $225 million in a Series D (investors include SoftBank and Founders Fund), increasing its valuation to over $1 billion and achieving unicorn status. Additionally, with the surge in attention to security, investors are supporting projects in the defense-tech sector, and a partial recovery of confidence in the cryptocurrency industry has enabled some blockchain startups to begin attracting funding once again. The expansion of sector focus is making the startup ecosystem more resilient and reducing the risk of overheating in specific segments.
Consolidation and M&A: Big Players Getting Bigger
High startup valuations and intense competition are driving a new wave of consolidation in the industry. Major mergers and acquisitions are once again taking center stage, reshaping market dynamics. In October, American investment bank Goldman Sachs announced its acquisition of the venture firm Industry Ventures for around $1 billion – one of the year's largest deals within the venture sector, reflecting the growing interest of bank capital in technology assets. Tech giants are also resuming their activity: in pursuit of key technologies and talent, corporations are acquiring promising AI and cybersecurity startups. A notable example is Google's acquisition of Israeli cybersecurity developer Wiz for approximately $32 billion, setting a record for deals in the Israeli technology sector.
Consolidation is also affecting the crypto industry. According to industry sources, payment giant Mastercard is close to acquiring a blockchain infrastructure startup (a provider of stablecoin technologies) for up to $2 billion. This move would represent one of the largest investments by Mastercard in the realm of digital assets and underscores traditional financial companies' efforts to establish a foothold in the cryptocurrency market. Overall, the increase in the number of M&A deals indicates the maturation of the startup ecosystem: more mature companies are merging or being acquired by larger players, while venture investors are receiving much-anticipated opportunities for profitable exits.
Renewed Interest in Crypto Startups
Following an extended downturn due to the "crypto winter," the blockchain startup market is noticeably revitalizing: venture investments in the crypto industry are once again on the rise. In October 2025, funding for cryptocurrency projects sharply increased thanks to several large rounds. Leading the pack is the American project Polymarket, which raised a record $2 billion (with a valuation around $9 billion) – one of the largest venture deals of the year outside the AI sector. Overall, infrastructure solutions for digital assets are also beginning to receive support from funds. For instance, American startup Hercle, which is developing a platform for issuing stablecoins, attracted approximately $60 million in funding.
Simultaneously, the cryptocurrency market is becoming more mature – institutional investors are returning to the realm of digital assets. The easing of regulatory uncertainty (for example, the emergence of clear rules for stablecoins and the anticipation of approval for exchange-traded crypto ETFs) combined with the participation of financial giants in funding the sector sustains capital inflows. Crypto startups that have survived the culling of speculative projects are gradually restoring trust and again attracting the attention of venture funds and corporations.
Local Market: Russia and CIS Countries
In Russia and neighboring countries, the startup ecosystem is also striving to develop against the backdrop of a global upswing. Over the past year, several new venture funds have emerged in the region – some local capital has begun to flow into the technology sector. Government institutions and large corporations have ramped up support programs: new accelerators, thematic funds, and grant competitions for innovative projects have been launched. Although the total volume of venture investments in Russia and CIS remains relatively modest, and significant barriers (high interest rates, sanctions, etc.) persist, the most resilient startups continue to attract funding and develop, focusing on local market niches. The gradual formation of their own venture infrastructure is creating a foundation for the future – by the time external conditions improve and global investors can again work more actively with the region.
Conclusion: Cautious Optimism
Cautious optimism prevails in the venture industry. On one hand, the rapid growth in valuations – especially in the AI segment – evokes memories of the dot-com bubble and raises warnings about potential market overheating. On the other hand, the current excitement concentrates enormous resources and talent in new technologies, laying the groundwork for future innovative breakthroughs. As 2025 draws to a close, it has become evident that the startup market has revived: record funding volumes are being recorded, high-profile IPOs are on the horizon, and funds are forming unprecedented pools of capital for investments. At the same time, investors have become more discerning, directing funds primarily towards the most promising projects with clear business models.
The key question for the future is whether the high expectations surrounding the AI boom will be justified and whether other sectors can catch up with it in terms of capital attractiveness. For now, the appetite for innovations remains high, and market participants are looking ahead with moderate enthusiasm, hoping for further balanced growth of the venture ecosystem.
