PitchBook：2025年上半年风险投资技术调查：投资者对人工智能、交易和融资的见解报告（英文版）

• Moderate disruption forecast: 84% of survey respondents anticipate at least mild to moderate impact from US President Donald Trump’s “Liberation Day” tariff announcements, with 64% expecting higher supply chain costs and 50% foreseeing slowed growth. The manufacturing and semiconductor/hardware segments were deemed the most vulnerable to tariff disruption. • Pragmatic dealmaking: Despite 45% of respondents noting increased LP risk aversion, 53% of VC investors are actively hunting for deals