毕马威：2025年第二季度全球风险投资报告（英文版）

Welcome to the Q2’25 edition of KPMG Private Enterprise’s Venture Pulse — a quarterly report highlighting the major trends, challenges, and opportunities facing the venture capital market globally and in key jurisdictions around the world. VC investment globally fell from $128.4 billion in Q1’25 to $101.05 billion in Q2’25. Recognizing the outlier $40 billion raise by OpenAI drove deal value up significantly in Q1’25, however, uncovers a more positive story — one that shows the strength