스냅차트
Global venture capital (VC) funding accelerated in the fourth quarter of 2025, reaching approximately $141 billion, a 12% quarter-over-quarter increase. As a result, 2025 became the highest-funded year since 2021. AI was the biggest force behind the rise in funding. It represented more than a quarter of total global VC funding in 2025, up from 15% in 2024 and 7% in 2023—a remarkable jump in just two years.
US funding climbed 13% quarter over quarter, retaining the largest share with 57% of the global total. AI pulled in about half of all US venture funding in the fourth quarter, with investment spanning infrastructure, model training platforms, and AI-native developer tools.
China gained meaningful momentum, powered by AI and autonomous vehicles venture rounds. Europe decelerated despite strength in sustainability and software, while the UK stood out with a funding surge.
In the fourth quarter of 2025, seed- and early-stage average deal sizes rose significantly, buoyed by multiple mega rounds. Seed activity spiked from the robotics, AI, semiconductors, and Web3 sectors. Early-stage activity was strengthened by AI, robotics, defense tech, and biotech—coming in above the $34 million overall average deal size. Late-stage average deal size, meanwhile, dipped modestly after Anthropic’s $13 billion outlier in the third quarter.
Corporate- and corporate venture capital (CVC)-backed activity posted a mild fourth-quarter uptick. Still, participation remains elevated, largely due to Big Tech. In 2025, CVCs participated in 68% of overall AI deal value, supported by favorable AI policy signals and faster adoption timelines.
Within AI, horizontal enterprise applications raised the most funding and reported the highest deal count in the fourth quarter. Generative AI funding skyrocketed in 2025, with larger deal sizes even as activity cooled late in the year. Foundation and large language models remained the highest-funded category last year, but core development tools also reflected sustained investor focus.
Bain's Quarterly Global Venture Capital Outlook
Subscribe to receive our Global Venture Capital Outlook in your inbox every quarter.
First published in 3월 2026