vc Benchmark reports
The whole board. In a single snapshot.
Our quarterly VC Benchmark reports offer analysis and insights gathered from the US, Europe, and LatAm. Get perspectives from experts who lead their industries, so you can challenge yours.
Q1 2026
Q1 2026 shattered records, but not evenly. Global deal value exploded to $330.8B, concentrating an unprecedented 81% of capital in North America, while deal counts fell 27% YoY. Europe punched back with its own wave of billion-dollar rounds, bioscience staged a comeback, and agentic AI crossed from pilot to production. Capital is flowing faster than ever, but to fewer bets, in fewer places, and the rules for what makes a fundable company are being rewritten in real time.
Q4 2025
Q4 2025 closed the year with an investment surge, driven by a 20% spike in early-stage deals and North American dominance. As the market pivots from AI hype to 'Physical AI' and sovereign defense infrastructure, the narrative has shifted toward technical depth and real-world utility. From historic healthtech rounds in Europe to the rise of agentic workflows, Q4 confirms a market that now rewards revenue resilience and mission-critical innovation over speculation.
Q3 2025
Q3 2025 kept global venture capital moving, with high-value deals and shifting exits capturing attention. Fundraising remained selective across regions, while AI continued to dominate, expanding beyond foundational models into applied tech and enterprise software. M&A activity reached near-record levels, highlighting appetite for scale, cross-border growth, and strategic expansion.
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Q2 2025
The venture capital world is witnessing a shift in how capital finds innovation. While global funding reached new heights, the number of deals plummeted dramatically, creating a divided market where AI-enabled companies capture the lion’s share of capital through mega-rounds, leaving traditional startups fighting for increasingly scarce early-stage dollars. This strategic evolution shows us not just where capital flows, but how the next generation of breakthrough companies will emerge...