Venture Pulse Q3 2025: Global analysis of venture funding (KPMG)

Summary

• VC-backed companies across the Americas region secured $85.1 billion across 3,474 deals.p.35
• Venture investment in the Asia region remained subdued at $16.8 billion across 2,310 deals.p.81
• African venture capital backed companies raised $156 million across 86 deals.p.76

Key insights

1. The US venture market experienced an opening of the IPO window with successful listings by firms like Figma, Bullish, and Klarna.p.2
2. Quantum computing generated significant funding rounds, with US-based PsiQuantum securing $1 billion and Finland-based IQM raising $320 million.p.6
3. Canada recorded its largest non-US deal of the quarter with AI firm Cohere raising $600 million.p.36
4. Germany's VC market slowed sharply to $1.3 billion, marking an eight-quarter low.p.51
5. Fintech remained the dominant sector for African venture capital, generating all three of the continent's unicorn companies.p.77