Hi there,
Venture funding held steady in Q2’25 — but what’s driving it is shifting fast.
AI continues to dominate, but this quarter also saw a surge in hard tech, with 6 of the top 10 deals in sectors like defense, energy, and data centers.
Meanwhile, CVC-backed deals are down, but collaboration is at an all-time high.
And big tech M&A? Practically frozen, as minority deals take the spotlight.
Get all the details in our new State of Venture Report.
