Global Startup and Venture Investment News for November 29, 2025: The Return of Mega Funds, Record Investments in AI, a Wave of New "Unicorns," IPO Market Revival, a Surge in M&A Deals, and the Formation of New Tech Hubs Worldwide. An Overview for Venture Investors and Funds.
By the end of November 2025, the global venture capital market is confidently emerging from the prolonged downturn of recent years. According to industry analysts, the total volume of venture investments in the third quarter of 2025 reached approximately $97 billion—almost 40% more than the previous year, marking the best quarterly result since 2021. The prolonged "venture winter" of 2022–2023 is behind us; the influx of private capital into tech startups is accelerating significantly. Large funding rounds and the launch of new mega funds signal a renewed appetite for risk among investors, although they continue to invest selectively and cautiously.
Venture activity is increasing across almost all regions of the world. The United States maintains its leading position, particularly amidst the booming AI sector. Investment volumes in the Middle East have increased manifold over the year, and for the first time in a decade, Germany has surpassed the UK in total venture capital. Asia exhibits mixed dynamics: India, Southeast Asia, and Gulf states are attracting record flows of capital against the backdrop of relative stagnation in China. New tech hubs are emerging in Africa and Latin America. The startup ecosystems in Russia and the CIS countries are working hard to keep pace, despite external constraints. Overall, the global picture indicates the onset of a new venture boom, although investors remain focused on the most promising and resilient projects.
Key events and trends shaping the venture market landscape as of November 29, 2025, are listed below:
- The return of mega funds and significant capital. Leading venture players are forming record funds and actively injecting substantial resources back into the market, filling the ecosystem with capital and reigniting the appetite for risk.
- Record AI rounds and a new wave of "unicorns." Unprecedented investments are driving startup valuations to unseen heights, particularly in the artificial intelligence segment, leading to the emergence of numerous new companies valued over $1 billion.
- Revival of the IPO market. Successful listings of tech "unicorns" and new listing applications indicate that the long-awaited "window" for public exits has reopened.
- Diversification of sectoral focus. Venture capital is now being directed not only into AI but also into fintech, biotech, climate technologies, space, defense, and other projects, broadening market horizons.
- A wave of consolidation and M&A deals. Major mergers, acquisitions, and partnerships are reshaping the industry landscape, creating new opportunities for exits and business scaling.
- Global expansion of venture capital. The investment boom is spreading to new regions—from the Middle East and South Asia to Africa and Latin America—forming new tech hubs.
- A resurgence of interest in crypto startups. Following a long "crypto winter," blockchain projects are once again attracting significant funding and attention from venture funds and corporations.
The Return of Mega Funds: Big Money Back in the Market
The largest investment funds and players are triumphantly reentering the venture scene—a clear sign of renewed risk appetite. After a downturn in 2022–2024, leading firms are again actively raising capital and launching record-sized funds.
Japan's SoftBank has announced the launch of Vision Fund III, with a focus on advanced technologies (AI, robotics, etc.) and a volume of approximately $40 billion. In the U.S., Andreessen Horowitz is forming a fund of around $20 billion to finance late-stage AI startups. Simultaneously, sovereign funds from the Gulf are increasing their presence in the tech sector: investors from the Middle East are pouring billions into promising startups worldwide and launching ambitious projects to create their own tech hubs. New venture funds are emerging in all regions, attracting significant institutional capital into high-tech projects. The influx of this "big money" is filling the market with liquidity, intensifying competition for the most promising deals, while at the same time providing confidence in the continued influx of capital.
Record Investments in AI: A Wave of New "Unicorns"
The artificial intelligence sector remains the main driver of the current venture surge, demonstrating unprecedented scales of funding. Since the beginning of 2025, AI startups in the U.S. alone have raised over $160 billion (around two-thirds of all venture investments in the country), and global investments in AI are projected to exceed $200 billion by year-end—a previously unseen level. The total valuation of the ten largest AI companies has approached an astronomical figure of $1 trillion. The enormous influx of capital into AI is accompanied by the emergence of numerous new "unicorns": in October 2025 alone, approximately 20 startups globally surpassed the $1 billion valuation mark for the first time—a record monthly addition to the unicorn club. Investors are readily funding projects in generative AI, AI infrastructure, autonomous systems, and other advanced domains.
A new mega round is announced almost every week. For instance, in November, American cloud AI infrastructure provider Lambda raised around $1.5 billion, the predictive market platform Kalshi secured $1 billion, and the multimodal AI systems developer Luma AI attracted $900 million. While such rapid growth instills optimism about technological potential, experts warn of signs of overheating in certain niches. This pushes investors to be more discerning about valuations and focus on truly quality projects.
IPO Market Revival: 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 popular exit strategy for venture funds. In Asia, Hong Kong opened a new wave of IPOs: in recent months, several large tech companies have gone public, collectively raising billions of dollars. For example, the Chinese company CATL raised approximately $5 billion during its listing, confirming investor interest in IPOs in the region.
The situation is also improving in the U.S. and Europe: American fintech unicorn Chime recently debuted on the stock market, with shares rising about 30% on the first day. Soon after, design platform Figma conducted its IPO, raising roughly $1.2 billion at a valuation of around $20 billion. The crypto industry is also trying to capitalize on the revival: fintech company Circle successfully went public in the summer (with a market capitalization of around $7 billion), while cryptocurrency exchange Bullish submitted a U.S. listing application with a target valuation of around $4 billion. The revival of IPOs is critically important for the venture ecosystem: successful listings allow funds to recoup invested capital and confirm the viability of funded business models, returning liquidity to the market and reinforcing investor confidence.
Diversification of Sectoral Focus: Expanding Horizons
In 2025, venture investments encompass a much broader range of industries and are no longer limited to just artificial intelligence. Following the downturn in 2024, there has been a resurgence in fintech: new fintech startups are once again securing large funding rounds, particularly in payment systems and decentralized finance (DeFi). For example, American fintech decacorn Ramp raised $300 million at a valuation of approximately $32 billion (the fourth round for this startup in 2025), indicating a return of investor interest in financial technologies. Rapid growth is also observed in climate ("green") technologies—in response to a global demand for sustainable development, investors are eagerly funding projects in renewable energy and carbon footprint reduction.
Investors are also returning to biotechnology and medtech: major players (especially in Europe) are creating specialized funds to support pharmaceutical and medical startups. Space and defense technologies are also coming to the forefront—geopolitical conditions and the successes of private space companies are stimulating investments in satellite constellations, rocket building, drone systems, and military AI. The sectoral focus of venture capital has significantly broadened, enhancing market resilience: even if the hype around AI subsides over time, other sectors are poised to take up the baton of innovation.
A Wave of Consolidation and M&A: The Industry is Changing
High valuations of startups and fierce competition in the market are provoking a new wave of consolidation. Major mergers and acquisitions are once again coming to the forefront, reshaping the balance of power in the industry. Tech giants are eager to acquire cutting-edge developments and talent, actively buying up promising companies. A notable example is Google’s agreement to acquire the Israeli cybersecurity startup Wiz for approximately $32 billion, a record for Israel’s tech sector. Such mega-deals demonstrate corporations' readiness to invest in innovation to strengthen their positions.
Overall, the surge in M&A activity signals market maturation. Mature startups are either merging with one another or becoming acquisition targets, and venture funds have the opportunity for long-awaited profitable exits. Consolidation accelerates the growth of the most promising companies while simultaneously "cleansing" the ecosystem of weaker players, revitalizing the market.
Global Expansion of Venture Capital: New Tech Hubs
The investment boom is spreading to new regions, forming their own tech hubs around the world. The Middle East is particularly notable: sovereign funds from Gulf countries are directing unprecedented volumes of capital into tech companies while simultaneously developing ambitious megaprojects (such as the future city NEOM in Saudi Arabia). In South Asia, India and Southeast Asian states are attracting record capital inflows, while in Europe, power dynamics are shifting—Germany has overtaken the UK in venture capital investments for the first time in a decade.
New startup ecosystems are forming in Africa and Latin America as global investors focus on these promising markets. Local entrepreneurs—from Nigeria to Brazil—are gaining access to capital for growth, creating regional innovation hubs. This global expansion of venture capital reduces dependence on traditional tech centers and stimulates innovation everywhere, laying the groundwork for the emergence of the next generation of startups in diverse corners of the globe.
Resurgence of Interest in Crypto Startups: The Market Awakens After the "Crypto Winter"
After a prolonged "crypto winter," the blockchain startup market has noticeably revived. In the fall, funding for crypto projects reached a high not seen in recent years. Significant rounds are taking place in Web3 infrastructure and decentralized finance, and venture capital is once again flowing into promising blockchain platforms. The rise of the cryptocurrency market also played a role: Bitcoin surpassed the $100,000 mark, fueling investor enthusiasm. Venture funds that had long stood on the sidelines are gradually returning to the crypto sector; new specialized funds and incubators for Web3 projects are emerging.
Of course, volatility and regulatory risks remain, but cautious optimism is evident: market participants are striving not to miss this new wave of growth. Total investments in crypto startups in 2025 have already exceeded $20 billion—more than double that of 2024—and could reach $25 billion by year-end. All this indicates a renaissance of the sector: after the market was cleansed of speculation, the focus has shifted to real blockchain use cases, once again attracting "smart" money.
Cautious Optimism and Sustainable Growth
By the end of 2025, cautious optimism prevails in the venture capital industry. Successful IPOs and large funding rounds indicate that the downturn is behind us and that the startup ecosystem is experiencing a new surge. However, investors continue to act prudently: capital is increasingly directed to startups with sustainable business models, proven economics, and real profit prospects.
The substantial influx of funds into AI and other sectors instills confidence in the market's continued growth, but participants are keen to avoid repeating the mistakes of past "bubbles," carefully selecting projects and realistically assessing their potential. The return of large investors, the emergence of new "unicorns," and successful public offerings have laid the groundwork for another wave of innovation, but investor discipline and calculated approaches will define the nature of this growth. Despite the increased appetite for risk, the focus remains on quality growth for startups and the long-term sustainability of the market.
