Current News in Startups and Venture Investments for Thursday, November 27, 2025: AI Rounds, Megafunds, and Technology Market Trends. Analytical Overview for Venture Investors and Funds.
By the end of November 2025, the global venture capital market is confidently emerging from the prolonged slump of recent years. According to analysts, the total volume of venture investments in the third quarter of 2025 reached approximately $97 billion—38% higher than the previous year and marking the best quarterly performance since 2021. The "venture winter" of 2022-2023 is behind us, and the inflow of private capital into technology startups is accelerating. Major funding rounds and the emergence of new megafunds signal a return to risk appetite, although investors remain selective and cautious.
Venture activity is growing almost everywhere around the globe. The United States maintains its leadership, especially against the backdrop of the booming AI sector. Investments in the Middle East have multiplied over the year, while in Europe, Germany has surpassed the UK in total venture capital for the first time in a decade. The landscape in Asia is heterogeneous: India, Southeast Asia, and Gulf countries are attracting record capital flows amidst a relative downturn in China. New tech hubs are forming in Africa and Latin America. The startup ecosystems in Russia and the CIS are striving to keep pace, despite external constraints. Overall, the global picture suggests the emergence of a new venture boom, although investors are still focused on the most promising and resilient projects.
Key events and trends shaping the venture market as of November 27, 2025, include:
- The return of megafunds and large investors.
- Record AI rounds and a new wave of unicorns.
- Revival of the IPO market.
- Diversification of sectoral focus in venture capital.
- A wave of consolidation and M&A deals.
- Renewed interest in crypto startups.
The Return of Megafunds: Big Money is Back in the Market
Mega investment funds and players are confidently re-entering the venture arena, demonstrating a new surge in risk appetite. After a period of decline from 2022 to 2024, leading firms are resuming capital raises and announcing record-sized funds. Japan's SoftBank has announced the launch of Vision Fund III with a volume of approximately $40 billion, focused on advanced technologies (AI, robotics, etc.). In the U.S., venture firm Andreessen Horowitz plans a $20 billion fund for investments in late-stage AI startups. Concurrently, sovereign funds from the Gulf are expanding their presence in the tech sector, pouring billions into promising startups worldwide and launching programs to develop their own tech hubs. New venture funds are springing up across regions, attracting significant institutional capital for investments in high-tech projects. The influx of this "big money" is filling the market with liquidity and intensifying competition for the most promising deals while instilling confidence in further capital inflows.
Record Investments in AI: A New Wave of Unicorns
The artificial intelligence sector continues to be the primary driver of the current venture upturn, displaying record levels of funding. Since the beginning of 2025, AI startups have collectively raised over $160 billion in the U.S. alone (accounting for about two-thirds of all venture investments in the country), with global investments in AI expected to exceed $200 billion by year-end—an unprecedented level. The aggregate valuation of the ten largest AI companies has approached the astronomical figure of $1 trillion. The colossal capital influx into AI is accompanied by the emergence of numerous new unicorns. Just in October 2025, around 20 startups with valuations exceeding $1 billion joined the unicorn club—marking a record monthly addition. Investors are actively financing initiatives in generative AI, AI infrastructure, autonomous systems, and other advanced fields. Almost every week, new mega rounds are announced; for instance, in November, the American cloud AI infrastructure company Lambda raised approximately $1.5 billion, the predictive markets platform Kalshi secured $1 billion, and multimodal systems developer Luma AI received $900 million. While the rapid growth inspires optimism regarding the potential of these technologies, experts warn of signs of overheating in specific niches. This compels investors to pay closer attention to valuations and select truly quality projects.
The IPO Market is Reviving: A New Wave of Public Offerings
The global IPO market is gradually emerging from a lengthy hiatus and picking up steam. After almost two years of a lull, public offerings are becoming a sought-after exit mechanism for venture funds once again. In Asia, Hong Kong has spearheaded a new IPO wave: in recent months, several major tech companies have gone public, collectively raising billions of dollars. For example, Chinese company CATL raised approximately $5 billion, 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 exchange, with its shares rising about 30% on the first trading day. Shortly thereafter, Figma conducted its IPO, raising around $1.2 billion at a valuation of approximately $20 billion.
The crypto industry is also trying to leverage the revival: fintech company Circle successfully went public last summer (with a market capitalization of about $7 billion), and cryptocurrency exchange Bullish has filed for a listing in the U.S. with a target valuation of approximately $4 billion. The revival of IPOs is crucial for the venture ecosystem: successful public offerings enable funds to recoup invested capital and validate the viability of the business models they have financed, restoring liquidity to the market and strengthening investor confidence.
Industry Diversification: Investment Horizons are Expanding
In 2025, venture investments are covering a much broader range of industries and are no longer focused solely on AI. Following last year's downturn, there has been a resurgence in fintech: new fintech startups are securing substantial funding rounds, particularly in payment systems and decentralized finance (DeFi). American fintech decacorn Ramp raised $300 million at a valuation of approximately $32 billion (the fourth round in 2025), indicating a revival of investor interest in fintech. There is also rapid growth in climate ("green") technologies in response to the global demand for sustainability: investors are funding renewable energy and carbon reduction projects.
Interest in biotechnology and medtech is also returning: large funds (especially in Europe) are forming specialized instruments 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 driving investments in satellite constellations, rocket construction, unmanned systems, and military AI. The sectoral focus of venture capital has significantly broadened, enhancing market resilience: even if the excitement around AI diminishes, other sectors are poised to continue the innovation relay.
A Wave of Consolidation and M&A: The Industry is Transforming
High startup valuations and intense competition in the markets are driving a new wave of consolidation. Major mergers and acquisitions are once again taking center stage, reshaping the balance of power in the industry. Tech giants are eager to acquire cutting-edge developments and talent, actively purchasing promising companies. A noteworthy example is Google's agreement to acquire Israeli cybersecurity startup Wiz for about $32 billion, setting a record for Israel's tech sector. These mega deals demonstrate corporations' readiness to invest in innovations to strengthen their positions. In general, the surge in M&A activity and significant deals signals market maturation. Mature startups are merging with each other or becoming acquisition targets, while venture funds seize the opportunity for much-anticipated profitable exits. Consolidation accelerates the growth of the most promising companies while simultaneously "cleansing" the ecosystem of weaker players, revitalizing the market.
Renewed 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, the volume of funding for crypto projects reached its highest level in years. Major rounds are taking place in Web3 infrastructure and decentralized finance (DeFi), and venture capital is once again flowing into promising blockchain platforms. The growth of the cryptocurrency market has also played a role: Bitcoin surpassed $100,000, further fueling investor enthusiasm. Venture funds that had long remained on the sidelines are gradually returning to the crypto sector; new specialized funds and incubators for Web3 startups are emerging. Of course, volatility and regulatory risks remain, but cautious optimism is taking hold: participants are striving not to miss the new wave of growth. Cumulative investments in crypto startups in 2025 have already exceeded $20 billion—more than double that of 2024—and may reach $25 billion by year-end. This indicates a renaissance in the industry: after the market was cleansed of speculation, the focus has shifted to real use cases for blockchain, attracting "smart" money.
Conclusion: Cautious Optimism and Sustainable Growth
By the end of 2025, cautious optimism prevails in the venture capital industry. Successful IPOs and major funding rounds indicate that the downturn is behind us, and the startup ecosystem is experiencing a new upturn. However, investors remain cautious: capital is increasingly directed towards startups with resilient business models, proven economics, and real profitability prospects. Significant investments in AI and other sectors instill confidence in ongoing market growth, though players strive not to repeat the mistakes of past "bubbles," carefully selecting projects and realistically assessing their potential. The return of major investors, the emergence of new unicorns, and successful IPOs have laid the groundwork for another wave of innovation, but discipline and prudence among investors will dictate the nature of this growth. Despite the increased appetite for risk, the focus remains on the quality of startup growth and the long-term sustainability of the market.
