The CB Insights Q2 2025 State of Venture Report is an analysis of venture capital trends, dealmaking, funding, and exits. The report covers various sectors, geographic regions, and investment stages. Below we focus on the US only.
More capital, fewer deals. In Q2 2025, U.S. venture capital deal count was the lowest since 2021, with 2430 deals done in Q2. That said, venture dollars invested are back to covid levels, at $68.7bln deployed in Q2.
Late stage is commanding the capital. More capital going to fewer deals means a constriction for the overall industry, especially at the early stages. Early-stage investments accounted for 59% of all deals YTD, the lowest figure in the data set shown.
Global exits remain in line. Exits globally (the data isn’t available for the US only) remained in line with pre and post covid periods, with 2053 M&A events recording in Q2.
Thank you for your readership. See more blogs and SaaS data at blossomstreetventures.com. Email the author at sammy@blossomstreetventures.com.
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