Q2 venture funding is rising in AI trading, with PE remaining on the sidelines

It’s time to take the temperature of the venture and private equity sectors. There are some new numbers.

According to the business data and forecast intelligence company, ventures poured $91 billion into businesses in the second quarter, up about 11% year-on-year. Crunch base. $91 billion in the second quarter represents a 20% decline from the first quarter when startups raised $114 billion. However, the first quarter was the strongest venture investment quarter since the second quarter of 2022 (including Openai’s $40 billion in the first quarter). Fundingthe largest private round ever. )

Almost half of the $91 billion in the second quarter came from one sector. AI kicked for $40 billion. (Meta) Investment of $14.3 billion Scale AI in June generated more than a third of the AI ​​sector’s funding. ) Healthcare and biotechnology came in second with a $14.8 billion funding, while Financial Services delivered $11.3 billion to third place.

“Global funding has been growing year-on-year over the last three quarters, with rounds of over $1 billion driven primarily by rounds into AI labs and sector data and infrastructure providers,” CrunchBase said in the report.

Almost a third of all capital in the second quarter went to 16 companies. Andrill Industries $2.5 billion rounds and separate $2 billion rounds of funds Mechanical Research Institute is thinking and A safe emergency.

Startup M&A was also active. The second quarter had the second strongest quarter since 2021 with reported exits of $50 billion. The first quarter total fell from $71 billion. Openai was the startup’s most active and largest acquirer in the second quarter, scooping up four companies, including four. Jony Ive’s IO For $6 billion Windsurfing $3 billion.

Bystander PE

On the private equity side of things, funding between PE companies continues to drag on. According to research and data company Pitchbook, PE Pool has accumulated $551 billion in all 2024, so far in 2025, which is low for performance last year, with PE Pool accumulating $551 billion in all 2024. US funding has raised $149 billion so far in 2025. That’s below the pace last year when PE pool raised $333.4 billion.

The slower PE funding was due to a decline in mergers and a decline in IPOs. PE companies are struggling to sell their investments. This means that you can’t send money back to investors, which stalls your own fundraising. The PE company joined in 2025 and was hoping for a strong year, or at least a rebound, in the merger. However, volatility from the tariffs on the day of President Trump’s release caused many transactions and IPOs Please put it on hold April. A new problem has begun rebound In June, M&A is slowly and dull.

US private equity managers have over $1 trillion Dried powderUninvested, dedicated capital, according to Kyle Walters, a private equity research analyst at Pitchbook. Many PE companies are “sitting on the sidelines) and choose not to sell most of their assets in what is considered a disadvantageous exit market,” Walters said. (The total figures for PE dry powders were as of September 30, 2024 and are likely to have declined since then, Walters said. The venture company has $701.2 billion in uninvested capital, he said.

So far, in 2025, the PE fund has acquired a total exit value of $339.8 billion. That’s more than the total of $384.2 billion last year. Small and large-scale transactions including natural gas exporter Venture Global $58.7 billion IPO and WorldPay’s $24.3 billion in sales In Global paymentshelped to increase the exit value this year.

“If you want to see the fundraising slowdown end, you need to look at a strong pickup on exit counts, and given that most exit activities are in standby mode, fundraising activities will not return until 2026,” Walters said.

Let’s meet again,

Louisa Bertrand
X: @luisarbelltran
Email: luisa.beltran@fortune.com
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Venture deals

– Talon.One, The Berlin-based enterprise loyalty and promotional software company raised $135 million. Silversmith Capital Partners and Meritech Partners Leading the round, with existing investors joining CRV.

– Karon SaleBerlin-based B2B market for second-hand car deals, rising Series C funding costs 70 million euros ($82 million). North Zone Leading the round, with existing investors joining HV Capital, Insight Partner, stripeand Create.

– Harmfulthe Tel Aviv-based quantum computing company raised $26 million in Series A funding. Grillot Capital Partner Leading the round and participating IBM, Korean Investment Partnerexisting investors tpy capitaL, others.

– BoomPasadena, California-based Childcare Marketplace has raised $10 million in seed funding. Offline venture and A true venture He led the fund and joined the company The capital of Goodwater, Market capitaland others.

– Fantasy life, The New York-based online sports and gaming company has raised $7 million in seed funding. LRMR Venture and SC Holdings Leading the round and participating Everg Capital, Wasserman Ventures, Bolt Venturesand others.

– Bridgeport, Crypto Trading’s New York-based middleware software provider has raised $3.2 million in seed funding. More ventures Leading the round and participating virtu, xbto, Blockchain Founders Fund, Fun fair ventureand Humla Ventures.

Private Equity

– Toma Bros. I agreed to get it Oroa New York-based SaaS restaurant platform with all the cash agreements that value the company for around $2 billion.

–The capital of Tifhau It was raised Portfolio company 1 billion euros ($1.17 billion) egisan architecture and civil engineering company based in Paris.

–Development Partners International, We agreed to acquire $190 million in minority stakes Alameda Healthcarea private healthcare group based in Cairo.

– Team Technologyis backed up Arlington Capital Partnerobtained Duke Proofa Morgan Hill, California-based cardiovascular medical device developer and manufacturer. Financial conditions have not been disclosed.

–Orix USAa subsidiary based in Japan Orix Corporation, I agreed to acquire a majority stake Hilco Globala diverse financial services company based in Northbrook, Illinois. Financial conditions have not been disclosed.

Exit

– Chamberlain Group, backing Black Stone, I agreed to get it Arrow Tru-linea manufacturer and supplier of garage door hardware based in Archbold, Ohio; The capital of the middle ground. Financial conditions have not been disclosed.

other

-TPG Capital Acquired 70% stake DirectVfrom a satellite television company based in El Segundo, California. AT&T $7.6 billion in cash.

– Light Cast I’ve got it rhetoricUK-based Wokingham B2B organization intelligence and data provider. Financial conditions have not been disclosed.

Fund + Fund Fund

–Red Dot Capital PartnerThe Tel Aviv-based venture capital firm has raised $320 million for its third fund focusing on early-stage growth companies in various sectors.

people

–Olympus Partnerpromoted private equity company based in Stamford, Connecticut Matt Boujole To the principal, Connor Wood To the principal, Courtney Dunn To the Vice President Marty Darkin To the vice president.

–ParttechParis-based venture capital company has been promoted Allison Invert To a partner, Moritz Steinbrecher To the principal, and Ariadne lemieux-cumbumlege Became a senior associate on the seed team. The company has been promoted Simone Riva To a partner Julia Najman Became a senior associate on a venture team.

–Stone PeakNew York City-based private equity company has been added Cindy Marl As a senior advisor. Previously, she was in Wellington management.