Baromètre EY du capital-risque en France, bilan annuel 2025 (EY Swiss Fintech / Banking Barometer)

Summary

• Global venture capital funding reached $435 billion in 2025, an increase of +27%.p.2
• French tech startups raised €7.39 billion in 2025 across 618 deals, marking a -5% decline in value.p.3
• In France, software led sector investments with €3,309 million (+9%), followed by Greentech at €1,029 million (-46%).p.4
• UK venture capital and growth equity surged +40% to €20.04 billion across 1,290 deals.p.6
• The United States dominated global generative AI venture funding, securing $97 billion (+154%), or 89% of global deal value.p.8

Key insights

1. Global venture capital rose by +27% to $435 billion in 2025, driven heavily by generative artificial intelligence.p.2
2. French startup fundraising experienced a -5% contraction in total value to €7.39 billion, despite venture capital growing +6%.p.2
3. Growth equity investments in France fell sharply by -24% to €2.70 billion.p.6
4. Software maintained its top rank in France with €3,309 million across 215 operations.p.4
5. Greentech funding in France dropped -46% to €1,029 million, down from €1,913 million in 2024.p.4
6. Revolut completed the largest European deal of 2025, raising €1,818 million in the UK.p.7
7. The US captured 89% of global generative AI investment value, taking $97 billion out of total global funding.p.8