State of the Markets H1 2025 (Silicon Valley Bank)
Save
Silicon Valley BankSummary
- US venture capital investment totaled $204B in 2024, marking a 30% year-over-year increase.p.19
- US VC fundraising reached $66B in 2024, with the top 10% of funds capturing 64% of total raised capital.p.8
- Generative AI companies accounted for 48% of all US VC investment in 2024.p.19
- The median cash runway for US tech startups dropped to 12 months in 2024, matching the lowest level since 2019.p.28
- The average age of a US VC-backed tech unicorn reached 10.3 years, closely approaching the 10.6 years average age of tech IPOs.p.32
- Seed extension deals climbed as the median revenue for Series A startups reached $2.5M, a 75% increase compared to 2021.p.26
Key insights
- The top 10 venture capital firms captured 22% of all venture fundraising from 2020 through 2024.p.13
- Companies building or leveraging AI received 61% of all venture mega-deal funding in 2024.p.19
- Startup launch programs, including incubators and accelerators, accounted for 24% of all US VC deals in 2024.p.16
- US corporate attention on defense and security technologies doubled compared to 2020 levels.p.22
- Only 25% of active US VC-backed tech unicorns satisfy traditional public market IPO revenue and margin benchmarks.p.32
- Out of nearly 900 US VC-backed M&A transactions in 2024, only 18% disclosed a purchase price.p.35
- Approximately 73% of venture investors report having not participated in secondary market transactions.p.36
Investors in this report
Topics and entities
Summary and figures generated from the document and checked automatically: every number shown appears on the cited page. The full document is available from the publisher. Publishers can request removal.