Surreal 2025/26 – Global Tech and VC Wrapped

2025 was a standout year for tech value creation. Venture capital rebounded. And AI rounds rewrote the rules. 2025 in tech and VC, in data.

Key findings

• Global tech enterprise value rose 29% to $55T in 2025, made up of $37T in public value (up 33%) and $18T in private value (up 19%).
• Global VC investment grew 27% to $434B in 2025, recovering from the post-2021 correction but still far below the 2021 peak of $722B.
• AI companies took $198B of venture funding in 2025, up from $116B in 2024 and close to half of all global VC.
• The US took 65% of global VC in 2025, up from 56% in 2024, as AI mega-rounds pulled late-stage capital toward a handful of frontier-model leaders.
• First-time M&A exits in tech reached $131B in 2025, roughly matching the prior five years combined, and three deals carried most of it: Wiz $32B, Scale $29B, Groq $20B.