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On the heels of a rocky year for #VC, deal activity showed signs of a rebound—particularly at the early stage—supporting the case for cautious optimism among some investors. 📈  #AI continues to drive VC’s narrative of resilience, accounting for nearly two-thirds of deal value while representing nearly 40% of deal count in 2025.💡  However, the lack of distributions has stifled recovery. As PitchBook Senior Venture Capital Analyst Emily M. Zheng notes, high-profile exits generated headlines and enthusiasm in 2025, IPO activity remained muted. Fundraising is also lagging, prompting an ongoing push to generate liquidity through secondary vehicles. Our Q4 2025 PitchBook-NVCA Venture Monitor report, created in partnership with the National Venture Capital Association, and presented by J.P. Morgan Commercial and Investment Banking, Dentons, and EisnerAmper, delves into the challenges and opportunities shaping the VC landscape. Download the full Venture Monitor report here ➡️ https://pitchb.co/VEjVLu

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