KPMG Venture Pulse Report Q2/2025
Our report provides an overview of global and European developments in the venture capital market. Download now and find out more.
Despite ongoing macroeconomic uncertainties, the global investment volume remained stable in the second quarter of 2025: around USD 74.7 billion flowed into venture capital transactions worldwide - with the number of deals declining at the same time.
In Europe, investment behavior is more selective. Large-volume financing rounds remained the exception. The focus was on early-stage financing in innovative technology fields such as biotech, digital health and industrial AI. In Germany, too, investors are increasingly focusing on viable business models with clear scaling potential.
Selected topics from the latest Venture Pulse Report:
- Significant investor interest in AI-based solutions with concrete use cases
- HealthTech, biotech and GenAI as strong investment fields worldwide
- Early-stage focus in Europe - especially in the Digital Infrastructure & CleanTech sector
- USA with five mega deals over USD 500 million - focus on enterprise software and platform technology
- Continued restraint in late-stage financing and IPOs