Global venture capital deals declined in Q1 2025 compared to the same quarter a year ago, according to a report by the National Venture Capital Association (NVCA) and Pitchbook. In North America, there were 3,155 deals in Q1 2025, compared to 4,282 deals in Q1 2024. In Europe, there were 1,852 deals in Q1 2025, […]
Global venture capital deals declined in Q1 2025 compared to the same quarter a year ago, according to a report by the National Venture Capital Association (NVCA) and Pitchbook.
In North America, there were 3,155 deals in Q1 2025, compared to 4,282 deals in Q1 2024. In Europe, there were 1,852 deals in Q1 2025, compared to 2,917 deals a year earlier; in Asia, the deal count was 2,063 in Q1 2025, compared to 3,111 a year earlier; in Latin America, the deal count was 156, compared to 225 a year earlier. And in the rest of the world, there were 325 deals in Q1 2025, compared to 561 deals a year earlier.
In Q1 2025, M&A exits for VC-backed companies also declined, with deal value amounting to $78.2 billion across 636 deals, compared to an average of $80 billion across 726 per quarter across all of the quarters of 2024.Asia results
Melanie Tng, Asia Pacific private capital analyst, said in the report that VC deal activity in APAC remained subdued in Q1 2025, continuing a multi-year trend of caution amid macroeconomic uncertainty.
“The number of deals declined, but total capital invested rose sharply, driven by larger rounds in the B2B space. Binance raised $2 billion, which was the largest deal in Asia,” Tng said.
VC-backed exit activity continued to lag in Asia, falling to just 95 exits in Q1 2025, the lowest since Q2 2019, Tng said. Historically, markets in the region have struggled with consistent exit channels, especially as many remain relatively in developing robust financial ecosystems.
