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 Q4 2025 PitchBook-NVCA Venture Monitor presented by PitchBook, NVCA, J.P. Morgan, Dentons, and EisnerAmper, offers an in-depth view of the US venture capital and provides analysis on the changing mechanics of the market.
Key takeaways
- AI/ML deals captured 65.6% of all VC deal value in 2025 ($222B out of $339B), up from 47.2% in 2024 and just 10% in 2015.
- Public listings generated $119.4B in exit value from just 62 IPOs, while acquisitions totaled $112.7B across 995 deals.
- Fundraising contraction is creating a more selective LP environment.
- Record dry powder is providing continued deployment capacity.
What’s next: Join us on February 12th, 2026 at 1 PM ET 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 information:
- Download the full report
- Dive into the data pack
Contact information:
- For more information on the report, contact research@nvca.org
- For media inquiries, contact press@nvca.org
- For sponsorship opportunities, contact jvita@nvca.org
Special thanks to NVCA’s official data provider, PitchBook.