Startup and Venture Investment News — Monday, December 1, 2025: Megafunds Make a Comeback, Record AI Rounds

Current Startup and Venture Capital News as of December 1, 2025: Mega Funds, Record AI Rounds, Deals, IPOs, and Global Tech Market Trends

The venture market is experiencing a resurgence: large funds and strategic investors are actively returning, setting the investment format for 2026. The focus is on large rounds in the field of artificial intelligence and a revival of the IPO market. Capital is being allocated across various sectors—from classic fintech and biotech projects to “clean” energy and space startups—as venture expansion reaches new regions. Below are the key trends and events shaping the investment climate as December 2025 begins.

Return of Mega Funds and Large Capital. Investment giants are forming record funds and pouring tens of billions into startups, reinforcing their appetite for risk.
Record AI Rounds and a Wave of New Unicorns. Unprecedented investments in the field of artificial intelligence are skyrocketing startup valuations to unseen heights, leading to the emergence of hundreds of new unicorn companies.
Revival of the IPO Market. After a long lull, public offerings have resumed: successful launches of tech companies are attracting billions, paving the way for exits for investors.
Diversification of Investments Across Sectors. Venture capital is extending beyond AI: fintech and biotech are reviving, with growing investments in energy, climate tech, space tech, defense, and other innovative niches.
Consolidation and M&A. Mergers and acquisitions are gaining momentum—large corporations and funds are acquiring promising startups and creating joint projects, providing new exit routes.
Global Expansion. The investment boom is reaching new markets: Asia, the Middle East, Africa, and Latin America are demonstrating record growth rates in startup financing.
Renewed Interest in Crypto Startups. Following regulatory clarity, blockchain projects are once again garnering significant investment: fintech participants in the crypto industry are preparing for IPOs and substantial funding rounds.
Local Focus: Russia and the CIS. Despite ongoing restrictions, new funds and support programmes for startups have emerged in this region. Market volumes are still modest, but investments in AI and industrial technologies continue to grow.

Return of Mega Funds: Major Players are Back in Action

The largest investors are returning to the venture scene with record-setting funds. After a “long pause,” Japan's SoftBank has announced the launch of Vision Fund III, targeting ~$40 billion for advanced technologies (AI, robotics, etc.). Silicon Valley is responding with similar ambition: Andreessen Horowitz is forming a new $10 billion fund (of which ~$6 billion will go to late stages, while $1.5 billion each will be directed towards AI applications and AI infrastructure), and Sequoia Capital is launching approximately $950 million in early funds (seed and Series A). Sovereign funds from the Persian Gulf (Mubadala, PIF, and others) and major corporations are also actively channeling billions into promising startups worldwide. This influx of “big money” is filling the ecosystem with liquidity, enabling riskier projects to attract giant rounds and instilling confidence in further growth.

SoftBank (Vision Fund III) – about $40 billion for AI and robotics.
Andreessen Horowitz – $10 billion fund (growth and AI directions).
Sequoia Capital – ~$750 million (Series A) + $200 million (seed) for the very earliest projects.
Sovereign funds (PIF, Mubadala) – tens of billions for global VC projects.

Record AI Rounds and New Unicorns

The artificial intelligence sector remains the main driver of the venture boom. In Q3 2025, global VC financing reached ~$97 billion (up +38% from last year), with around 46% ($~45 billion) going to AI startups. Leading the pack were companies with foundation models: American firms Anthropic and xAI secured $13 billion and $5.3 billion respectively, bringing their valuations close to hundreds of billions. Major funding rounds continue to happen weekly: in France, Mistral AI raised €1.7 billion (valuation ~$11.7 billion) in September, while the American service Cursor (Anysphere) secured $2.3 billion at a ~$29.3 billion valuation in November, and healthcare startup Hippocratic AI raised $126 million. Over the last few months, dozens of projects have exceeded the "unicorn" threshold. Investors are closely monitoring various AI directions (generative AI, autonomous systems, neural networks) while also assessing overheating risks, betting on the quality of teams and real commercialization.

Anthropic (USA) – $13 billion (Series F)
xAI (USA) – $5.3 billion (Series A)
Mistral AI (France) – €1.7 billion (Series C)
Cursor / Anysphere (USA) – $2.3 billion (Series B)
Hippocratic AI (USA) – $126 million (Series C)
Others: Reflection.ai and Polymarket (about $2 billion each), Crusoe ($1.4 billion), Base Power ($1 billion), Luma AI ($0.9 billion).

Revival of the IPO Market: A New Wave of Public Offerings

After a summer lull, the IPO market has come back to life. In Asia, this wave has encompassed Hong Kong and Singapore: several large tech companies have gone public, collectively raising billions of dollars. For instance, Chinese battery producer CATL attracted about $5 billion through its IPO in Hong Kong, confirming investor interest in Asian IPOs. In the USA, the pace is also accelerating: fintech "unicorn" Chime recently debuted on the stock exchange, with its shares rising roughly 30% on the first day. This was followed by the design platform Figma, which raised ~$1.2 billion. The cryptocurrency sector is also not lagging behind: payments company Circle launched its IPO valued at ~$1 billion, and the crypto exchange Bullish has filed for a listing with a ~$4 billion valuation. Although some listings (for example, the service Navan in October) faced challenges (shares fell 20% upon opening), the overall revival of the IPO market brings optimism: successful exits allow funds to book profits and return capital to the venture investment market.

CATL (China) – ~$5 billion from IPO in Hong Kong.
Chime (USA, fintech) – successful IPO with +30% growth on the first day.
Figma (USA) – ~$1.2 billion in IPO (valuation ~$20 billion).
Circle (USA, crypto fintech) – ~$1 billion IPO (stablecoin platform).
Bullish (USA, crypto exchange) – IPO filing with a valuation of ~$4 billion.
Navan (USA, travel) – $0.9 billion IPO (shares fell -20% from the offering price).

Diversification of Investments: Expanding Horizons

In addition to AI, venture capital is increasingly being directed towards other industries. Fintech projects (new payment systems, blockchain in finance), biotechnology (medicine, genetics, diagnostics), “clean” energy, and climate solutions are making a comeback. For instance, renewable energy startups have received substantial investments: AI data centers Crusoe and Base Power raised ~$1.4 billion and $1 billion respectively. In light of this, demand for startups in biotech and climate tech is on the rise: sustainable energy, smart cities, and agri-tech projects consistently secure funding. Furthermore, defense and national projects (AI for security, robotics) are becoming a part of large funds' portfolios. This breadth of focus reduces risks and opens up additional niches for investor contributions.

Fintech and DeFi – revival of startups in payments, lending, and financial technologies.
Biotechnology and health – projects in medicine, genetics, and telemedicine.
Climate and clean energy – startups in renewable sources, energy efficiency, agri-tech.
Space and aerospace technologies – private space projects, satellite systems.
Defense and security – AI systems for the military, national infrastructure, “security technologies.”

Consolidation and M&A: Companies are Merging

There is an increase in merger and acquisition activity within the tech sector. Large corporations and funds are frequently acquiring promising startups to expand their capabilities (through corporate M&A and venture accelerators). This creates new exit routes for investors: by selling companies to strategic buyers, funds can book profits and return liquidity to the ecosystem. Concurrently, major joint projects between startups and industry leaders are emerging (for example, fintech alliances and AI joint labs). As a result, the market is being reshaped not only through new rounds but also through a closer integration of the technologies of large players and startups.

Global Expansion: New Hubs and Regions

The investment boom is reaching new markets. The Asian sector is confidently growing: Indian startups attracted approximately $1.7 billion in investments just in November (up 3× from last year), while Chinese companies raised $3.9 billion in October (+200% year-on-year). Africa continues to develop rapidly: $2.65 billion of venture capital in the first half of 2025 (+56% year-on-year), primarily in fintech and mobile technologies. Latin America is also gaining momentum: its largest market, Brazil, attracted $692 million in Q3 2025 (+47% YoY) due to active deals in fintech and healthcare. At the same time, interest in Southeast Asia (Singapore, Indonesia) and the Middle East (Dubai, Saudi Arabia) is rising: new tech clusters are being formed, attracting global VC funds.

Asia: India ~$1.7 billion (November, +200% YoY); China ~$3.9 billion (October, +200%).
Africa: $2.65 billion (January–October 2025, +56%); leaders – Kenya, Nigeria, Ghana.
Latin America: $692 million in Q3 2025 (+47% YoY); drivers – fintech and healthcare.
Middle East: billion-dollar funds (UAE, Saudi Arabia) investing in global VC projects.
Southeast Asia and the Asia-Pacific Region – rapidly growing startup ecosystems and new accelerators.

Renewed Interest in Crypto Startups

Crypto projects are once again in the spotlight for venture investors. According to Carta, blockchain startups raised $904 million in the first six months of 2025—this is a 47% increase compared to the same period in 2024. This surge is linked to regulatory clarity (GENIUS Act and other laws), which has alleviated many investors' concerns. In this context, exits are being activated: over the summer, payments company Circle conducted an IPO valued at $1 billion, while in September, blockchain lender Figure ($787.5 million) and crypto exchange Gemini ($425 million) went public. Validators and DeFi projects are also preparing for new rounds, considering the favorable market sentiment and demands from financial regulators. All this points to a return of large capital to the Web3 ecosystem.

$904 million – investments in crypto companies in H1 2025 (up +47% YoY).
IPO of crypto companies: Circle ($1 billion), Figure ($787.5 million), Gemini ($425 million).
New Regulations: The GENIUS Act and other legislative measures aim to support the crypto industry.
Blockchain startups in adjacent fields (NFT, Web3 SaaS, DeFi) are gearing up for significant rounds.

Local Perspective: Russia and the CIS

Against the backdrop of the global boom, the markets of Russia and the CIS remain small and not fully open. According to ComNews, from January to September 2025, Russian tech companies attracted only $125.5 million (an increase of +30% from last year). Key niches are IndustrialTech (about $29.7 million), Healthcare ($19.2 million), and FinTech ($18.3 million). Notably, AI companies are leading in volume: they accounted for $60.4 million in investments (32 deals). The CIS portrays a similar picture: small rounds are being conducted in Kazakhstan, Belarus, and Uzbekistan, often with the participation of local funds. New state programmes and accelerators (FRII, RVC, Skolkovo, etc.) are being established, but major international investors are still hesitant. In general, the region anticipates an influx of private capital and a reduction in barriers—this is key to scaling local startups in the coming years.

Russia: $125.5 million in 9 months of 2025 (+30% from 2024); 103 deals during this period.
Main sectors: IndustrialTech ($29.7M), Healthcare ($19.2M), FinTech ($18.3M).
AI and Machine Learning: $60.4 million in investments (32 deals) — the leader in terms of deal volume.
CIS: Kazakhstan, Uzbekistan, Belarus — active “early” deals ($1–5 million) with the involvement of state funds.
New initiatives: Russian incubators and state funds (FRII, RVC, etc.) are gradually expanding support for startups.