PitchBook-NVCA Venture Monitor

The PitchBook-NVCA Venture Monitor, produced by NVCA and PitchBook, is the authoritative quarterly report on venture capital activity in the entrepreneurial ecosystem.

What’s new: Our newly released Q2 2025 PitchBook-NVCA Venture Monitor presented by J.P. Morgan, Dentons, Deloitte, and Oracle NetSuite, offers an in-depth view of the US venture capital and provides analysis on the changing mechanics of the market.


Key takeaways

  • Down round IPOs are the new normal
  • Secondaries have provided some limited liquidity relief
  • Dealmaking continues its focus on AI
  • Fundraising is waiting on a return of large exits

What’s next: Join us on July 31st, 2025 for the Venture Monitor webinar. And don’t forget to download the report and data pack to dive into the details.

Learn more about real-time fundraising, investments, exits, and other relevant industry analyses by:


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Special thanks to NVCA’s official data provider, PitchBook.