Startup and Venture Investment News - September 16, 2025 - AI Mega Rounds, IPOs, and New Funds

Global Startup and Venture Investment News for September 16, 2025: Mega-Rounds in AI, IPO Resurgence, New Funds, and Key Transactions Across All Sectors for Professional Investors

By mid-September 2025, the global venture capital market is steadily recovering after several years of decline. Investors across all regions have ramped up funding for tech companies at all stages of development—from early seed investments to preparations for IPOs. In the first six months of 2025, startups in North America raised approximately $145 billion, which is about 43% higher than the previous year and represents a record level since 2021. Fueled by an improving macroeconomic situation and increased interest in new technologies, confidence in the venture market is strengthening: deals are growing in size and span the entire range of sectors—from artificial intelligence and fintech to biotechnology and defense. At the same time, caution persists: funding is primarily directed to a limited number of the most promising projects to avoid overheating in specific niches.

The venture surge is evident across all regions. The U.S. continues to lead, accounting for about two-thirds of the global investment volume (especially dominating in the AI sector). In the Middle East, funding volumes have doubled over the past year, thanks to multi-billion dollar tech projects in the Gulf states. In Europe, structural shifts are occurring: for the first time in a decade, Germany has outpaced the UK in total venture deal volume, although Europe’s share in global VC has slightly declined. India and Southeast Asia are experiencing an investment boom fueled by foreign funds, while activity in China remains subdued due to domestic restrictions. The startup scenes in Africa and Latin America are also reviving, attracting increasing capital and creating new growth points beyond traditional tech hubs. Meanwhile, startups in Russia and the CIS are striving to develop in parallel with the global market: despite external constraints, new funds and support programs are being launched in the region.

Below are the key trends and events in the venture market as of September 16, 2025:

Return of Mega-Funds and Large Investors. Major venture players are forming record-sized funds and ramping up investments, once again saturating the market with capital and fueling appetite for risk.
Record Funding Rounds and a New Wave of “Unicorns.” Unusually large deals this year are raising startup valuations to unprecedented levels, especially in AI and robotics segments.
Revitalization of the IPO Market. A series of successful public offerings by tech companies signals an opening “window” for exits and a return to liquidity in the venture market.
Wave of Consolidation and M&A Deals. Significant mergers, acquisitions, and strategic investments are transforming the industry, creating new exit opportunities and accelerated growth for companies.
Diversification of Sector Focus. Venture capitalists are investing not only in AI but also in fintech, “green” technologies, biotech, defense developments, and even crypto-startups, broadening market horizons.
Renaissance of the Crypto Industry. The rally in the digital asset market has renewed investor interest in blockchain projects, leading to new large funding rounds and even public offerings in the crypto sector.
Investment Boom in Defense and Space. Geopolitical factors are driving capital inflows into defense-tech and space projects, making these areas a new priority for venture funds.
Local Initiatives in Russia and the CIS. New funds and bills to support startups are being launched in the region, while local projects are beginning to attract foreign capital, gradually integrating into global trends.

Return of Mega-Funds: Big Money Back in the Market

The largest investment players are returning to the venture stage, signaling a new surge in appetite for risk. The Japanese conglomerate SoftBank is launching its third Vision Fund, worth approximately $40 billion, for investments in advanced fields (with a focus on artificial intelligence and robotics) after a pause. Sovereign wealth funds from the Gulf states have also revived: they are pouring oil dollars into technology initiatives and government mega-projects, creating their own technology hubs in the Middle East. Simultaneously, numerous new venture funds are being established worldwide, attracting significant institutional capital for investments in high-tech sectors.

Veritas Capital Fund IX – $14.4 billion. This American fund, focused on technology and defense industries, has closed a new fund at a record amount, demonstrating strong trust from large institutional investors.
Great Hill Partners IX – $7 billion. One of the largest growth funds aimed at technology companies attracted significant capital, exceeding its initial target size at the closing of its new fund.

Notably, the venture firm Andreessen Horowitz is also planning a mega-fund of $20 billion, entirely dedicated to investments in AI companies – if successfully raised, it would become the largest fund in the firm’s history. The increased capital inflow from such “mega-funds” is leading to a sharp rise in the volume of uninvested capital (“dry powder”) in the market. This enhances competition for the best startups and supports high valuations for promising companies. The very presence of large institutional funds bolsters confidence that capital inflows into the sector will continue.

Mega-Rounds in AI and a New Wave of “Unicorns”

The field of artificial intelligence and other advanced technologies remains the primary driver of the current venture upturn, demonstrating record levels of funding. Investors are eager to position themselves among the leaders of a new technological cycle, directing colossal sums to the most promising projects. In recent weeks, several record deals have confirmed this trend:

OpenAI (USA) – $8.3 billion. The AI technology developer raised one of the largest rounds in history at a valuation of around $300 billion. Together with Microsoft, the company is spinning off a business unit and preparing it for an IPO.
Mistral AI (France) – €1.7 billion. This generative AI startup received record funding in Europe, raising its valuation to €11.7 billion. The leading investor was the Dutch corporation ASML, underscoring Europe’s ambitions in AI infrastructure.
PsiQuantum (USA) – $1 billion. This quantum startup secured the largest investment in its segment at an approximate valuation of $7 billion, confirming investors' readiness to fund technologies beyond classical artificial intelligence.

New directions capable of attracting giant rounds are also emerging. For instance, Figure AI (USA), which develops humanoid robots, is reportedly negotiating a round of about $1.5 billion with a potential valuation of around $40 billion — an unprecedented level for a robotics startup. Such mega-rounds are creating a generation of new “unicorns” and accelerating the emergence of future technology leaders. Despite warnings of a potential market overheating, investor appetite for advanced projects remains heightened. It is noted that not only are applied AI products being funded, but also the infrastructure for them — specialized chips, cloud platforms, and data storage solutions necessary for scaling the AI ecosystem.

IPO Market Revitalization: The Window for Exits is Open

After the decline of 2022-2023, the IPO market is once again showing signs of life. Successful public offerings by several tech companies have demonstrated that investors are ready to purchase shares of rapidly growing startups at high valuations. This new wave of public debuts strengthens venture funds' confidence in the potential for profitable exits.

Chime. This American fintech unicorn (neobank) went public on Nasdaq in June; its stock rose by 30% on the first day of trading, confirming strong investor demand for promising fintech companies.
Klarna. This Swedish fintech giant debuted on the New York Stock Exchange, becoming one of the first European “unicorns” to list in the U.S. after a long hiatus. The shares were sold above the initial range and rose more than 25% in the first hours of trading.
Via. This American developer of transit technologies raised approximately $493 million in its IPO on the NYSE, achieving a valuation of around $3.5 billion. This debut showcased the market's willingness to invest in new segments of transportation services.

The success of these offerings signifies a return of liquidity to the venture market. Following these initial “harbingers,” other major startups are preparing for their own public offerings—from the American payment service Stripe (reportedly having submitted a confidential IPO application) to well-valued AI companies like Databricks. The revival of IPO activity is crucial for the entire ecosystem: successful exits allow venture funds to lock in profits and redirect freed-up capital into new projects, fueling the next cycle of growth.

Wave of Mergers and Acquisitions (M&A)

High startup valuations and fierce market competition are pushing the industry towards a new wave of consolidation. Major tech corporations are once again ready to spend billions on strategic acquisitions to strengthen their positions and gain access to cutting-edge developments. A number of high-profile M&A deals in recent months confirm this trend:

Google → Wiz — ~$32 billion. Alphabet acquired the Israeli cloud cybersecurity startup to bolster its positions in data protection and cloud services.
SoftBank → Ampere — ~$6.5 billion. The Japanese holding purchased the American server processor developer Ampere Computing, aiming to lead the segment of chips for cloud and enterprise data centers.

The increased activity in acquisitions is changing the balance of power in the industry. Mature startups are either merging with each other or becoming targets for corporations. For venture investors, this opens up long-awaited exit opportunities by selling portfolio companies to strategic players. Simultaneously, consolidation allows the market to eliminate excess players and focus resources on the most promising directions.

Diversification: Fintech, Biotech, and Green Projects

Venture investments in 2025 are no longer concentrated exclusively on AI—capital is actively flowing into other sectors. After last year's decline, fintech is regaining momentum: large fintech startups are attracting significant sums and renewing partnerships with banks. At the same time, interest in climate and environmental projects is growing—from renewable energy and energy storage systems to electric vehicles and carbon footprint reduction technologies. Gradually, appetite for biotechnology is also returning: the emergence of new drugs and digital health services is once again attracting capital as company valuations in the sector recover.

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

Kriya Therapeutics – $320 million. This American biotech startup specializing in gene therapy secured $320 million in a Series D round.
Odyssey Therapeutics – $213 million. This biopharmaceutical company developing new medicines for serious diseases raised $213 million in a Series D round.
Nitricity – $50 million. This California-based eco-tech startup received $50 million to develop an innovative zero-emission fertilizer production technology.

The expansion of sector focus is making the startup ecosystem more resilient, reducing the risk of overheating in specific niches. Investors are deliberately seeking new growth points beyond the hyper-popular AI, contributing to the emergence of promising companies in various fields.

Renaissance of the Crypto Industry

The digital asset market is experiencing a new boom in the second half of 2025, reviving venture capital interest in crypto startups. Bitcoin has already surpassed the historic $120,000 mark, setting a new absolute high, and the leading altcoins are also rapidly increasing in value. Just a year ago, the blockchain sector was facing a crisis of trust and tough regulatory pressure; however, the current rally has fundamentally changed investor sentiment.

Major funds that had previously paused investments in crypto projects are re-entering this market. Large funding rounds are being recorded, and some players are even going public. For instance:

Circle. This fintech company in the digital currency space successfully conducted an IPO, becoming one of the first major “crypto-friendly” firms on the exchange.
Gemini. This cryptocurrency exchange secured $50 million from Nasdaq Ventures ahead of its own public offering.
BlackRock. This investment giant launched an exchange-traded fund (ETF) linked to Bitcoin, marking an important signal of institutional recognition of crypto assets.

All these events indicate that the blockchain industry is once again being viewed by investors as a promising area for growth.

Defense Technologies and Space Take Center Stage

The geopolitical tensions of recent years have led to unprecedented growth in investments in the defense and aerospace sectors. Investments in defense-tech startups have surged: large rounds, such as the ~$2.5 billion raised by the American manufacturer of autonomous systems Anduril, demonstrate the venture capital readiness to fund security-related projects. Investors (and in some cases, governments) are actively supporting the development of drones, cybersecurity, military AI systems, as well as new space programs and satellite platforms.

The industries of defense and space are quickly becoming a new priority for venture funds. Several “unicorns” have emerged in the U.S. aerospace technology sector, while European defense startups have received a significant influx of funds in light of changing geopolitics. For example, the California-based standardized satellite platform manufacturer Apex raised $200 million in a Series D round to accelerate mass production of spacecraft in response to growing demand. In general, venture investments in “power” sectors promise not only commercial returns, but also strategic advantages, making them attractive even to relatively conservative investors.

Russia and the CIS: Local Trends in the Global Market Context

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 businesses have emerged in the region:

New Funds. The private fund Nova VC has begun operations in Russia (with a volume of about 10 billion rubles), while an industry venture fund “New Chemical Industry” (~5 billion rubles) has been established in Tatarstan to finance regional innovative projects.
Government Support. Authorities are discussing a separate law on venture investments. Among the declared goals are promoting innovation and increasing R&D spending to 2% of GDP by 2030 (almost double the current level).
International Success. Despite sanctions barriers, teams from the CIS continue to raise funds abroad. For example, the machine learning service Vocal Image, founded by Belarusians and operating in Estonia, received ~$3.6 million from a French venture fund—this demonstrates that promising projects from the region can find support on the global stage.

While the volume of venture investments in Russia and the CIS still lags behind global leaders, all the necessary elements of the ecosystem are being formed: local funds, accelerators, government programs, and international partnerships. This lays the foundation for the emergence of homegrown “unicorns” and deeper integration of regional startups into the global tech agenda.