Q2 2025 PitchBook-NVCA Venture Monitor Webinar

Halfway through 2025, the venture market remains defined by liquidity concerns and surging interest in AI. Investment power has concentrated among firms with ample dry powder and established track records. Meanwhile, tariffs and geopolitical uncertainty continue to dampen IPO prospects despite a recent surge in new public listings, while a handful of billion-dollar M&A deals closed in Q2, driven in large part by highly capitalized, VC-backed companies.

In this webinar, created in partnership with the National Venture Capital Association (NVCA), our panel of experts examine current US VC trends, analyze their impact on the market moving forward, and offer their perspectives on the rest of the year’s outlook.

Key topics

• Down round IPOs are the new normal
• Secondaries have provided some limited liquidity relief
• Dealmaking continues its focus on AI
• Fundraising is waiting on a return of large exits