Q4 2025 Venture Capital Fund Report
98 venture capital and private equity funds were added to the Fund Momentum database between 2025-10-01 and 2025-12-31, down 85% versus the previous quarter. Of those, 96 disclosed a fund size, representing $24.4B in committed capital.
Funds by location
| Location | Funds | Share |
|---|---|---|
| United States | 39 | 40% |
| United Kingdom | 9 | 9% |
| France | 7 | 7% |
| Netherlands | 7 | 7% |
| India | 6 | 6% |
| Germany | 4 | 4% |
| Canada | 3 | 3% |
| Israel | 3 | 3% |
Funds by industry focus
| Industry | Funds |
|---|---|
| AI/ML | 50 |
| SaaS | 35 |
| Climate & Sustainability | 29 |
| Deep Tech | 27 |
| Digital Health | 27 |
| FinTech | 23 |
| Enterprise Software | 21 |
| Consumer & Commerce | 15 |
Funds by stage
Methodology
Figures are drawn from the Fund Momentum database. A fund counts toward Q4 2025 based on the date it was added to our database, which tracks announced closes but is not identical to the official close date.
96 of 98 funds disclosed a fund size in a machine-readable format. Funds reporting a size only as free text (for example "$3B combined" or "first close of a $30M target") are counted in the fund total but excluded from the capital, median and largest-fund figures, so those figures understate the true total rather than estimating it.
Non-USD amounts are converted at European Central Bank reference rates observed on 2026-10-02: 1 EUR = 1.1225 USD, 1 GBP = 1.3201 USD, 1 CHF = 1.2097 USD, 1 CAD = 0.7023 USD, 1 AUD = 0.6939 USD, 1 SGD = 0.7814 USD, 1 NZD = 0.5612 USD. Amounts in a currency we cannot identify with certainty are excluded rather than assumed to be US dollars. Last generated 2026-10-04.