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The total number of venture capital (VC) deals with disclosed funding rounds announced globally fell by around 3% during the first half (H1) of 2025 compared to the same period in the previous year, according to GlobalData, a leading data and analytics company.
 
An analysis of GlobalData’s Deals Database revealed that the total number of early-stage funding rounds declined by 4% in H1 2025, year on year (YoY). The number of Seed rounds decreased by around 6%, while Series A rounds also experienced a YoY decline of around 3%. These two rounds collectively accounted for around 80% of the total number of VC deals with disclosed funding rounds announced globally in H1 2025.

The number of growth and late-stage funding rounds increased by around 3%. Within growth and late-stage rounds, notably, the number of Series D rounds increased by 28% YoY.

Aurojyoti Bose, Lead Analyst at GlobalData, said this shift indicates a potential pivot in investor strategy, favouring established businesses over nascent startups amidst economic uncertainty and that investors are strategically reallocating their resources, prioritising quality over quantity in their portfolios, reflecting a maturation of the VC landscape.