Global risk capital in the third quarter of this year increased by 38% compared to the same period last year to 97 billion USD, up slightly from 92 billion USD in the second quarter. About 46% of global adventure investment capital from July to September 2025 will be used to finance AI companies.
The three largest venture capital calling rounds in the quarter ended in September 2025 were mobilized by platform model companies, including $13 billion from Anthropic; $5.3 billion from xAI and $2 billion from Mistral AI.
Capital for US companies dominated in the third quarter, with $60 billion in global risk capital poured into US-based companies.
According to Crunchbase data, the hardware sector is the sector that receives the most investment after AI alone, with large capital calling rounds mobilized by robot, semiconductor, quantum and data infrastructure companies for a total of 16.2 billion USD.
Health care and biotechnology have mobilized 15.8 billion USD in adventure finance, becoming the major sector receiving the third largest venture capital in the quarter.
In addition to the bright spot from AI, hardware, healthcare and biotech companies, the general picture of startups in other fields is glower.
According to data provider PitchBook, companies in these fields have only raised $80 billion from 823 venture capital funds, a figure much lower than the $412 billion raised from more than 4,430 venture capital funds in 2022.
