New 2025 venture capital (VC) data from WIPO reveals a sharp AI-driven surge. While global VC activity appears to have regained momentum after the boom-and-bust cycle of 2020–2023, the recovery is uneven, driven largely by AI-related megadeals and heavily concentrated in the United States.
Key Takeaways:
- Global VC deal value jumped by almost 45% year-on-year, climbing from USD 83.5 billion in Q3 2024 to USD 120.7 billion in Q3 2025.
- Deal numbers fell 3.8%, dropping from 9,731 to 9,358 over the same period.
- Projections suggest 2025 will close with roughly USD 490 billion in deal value (25% higher than 2024) and 40,000 deals (5% lower than 2024).
- AI dominates: AI now captures 53% of global VC deal value, up from 32% in Q3 2024.
- US concentrates funding: Northern America commands nearly 70% of global VC investment in 2025, surging from 57% in 2024 and 48% in 2023.
- Asia retreats: Asia's share plummets from 30% in 2023 and 22% in 2024 to just 13% of global VC funding.
- Megadeals drive growth: A handful of large late-stage AI deals propel headline VC figures, including OpenAI, xAI, Anthropic and Mistral AI.
In the Global Innovation Index (GII), VC funding has become a key metric for measuring the vibrancy of innovative start-ups. It reflects both investor confidence and the strength of entrepreneurial ecosystems. The GII Tracker and the GII Innovation Insight Blogs now also report on the global and national VC development on a yearly basis.