Pre-ChatGPT era startups face a reckoning in private markets; PitchBook: nearly half of US unicorns haven't raised in three years and 220+ are “fallen unicorns”
Startups from the pre-ChatGPT era face a reckoning in private markets; PitchBook: half of US unicorns haven't raised in three years, 220+ are “fallen unicorns”
Five years ago, venture capitalists were pouring money into American startups selling everything from lingerie subscriptions …
PitchBook: VC investment in global robotics and physical AI jumped to $26B in 2025 from $4.2B in 2019, and has already topped $23B as of May 20 this year
Investors bet big on infrastructure and ‘physical AI,’ enticed by prospect of revenue opportunities
PitchBook: VC investment in global robotics and physical AI jumped to $26B in 2025 from $4.2B in 2019, and has already topped $23B as of May 20 this year
Investors bet big on infrastructure and ‘physical AI,’ enticed by prospect of revenue opportunities
PitchBook: US growth and late-stage venture funds raised $23.6B YTD, up from $7.4B in 2025 and above the totals for any of the past 12 years, amid the AI boom
U.S.-based growth and late-stage venture funds raised a record $23.6 billion this year so far, according to PitchBook
PitchBook estimates that 25%+ of VC-backed unicorns have become “undercorns,” startups once valued at $1B or more by VCs but now valued below that threshold
PitchBook estimates that 25%+ of VC-backed unicorns have become “undercorns,” startups once valued at $1B or more by VCs but now valued below that threshold
New valuation data from PitchBook suggests that more than one-quarter of VC-backed “unicorns” have lost their horns …
KPMG citing PitchBook data: UK fintech investment totaled almost $11B in 2025 across 418 deals, down from ~$13.4B in 2024 across 527 deals; Revolut raised ~$4B
Investment in the UK financial technology world plummeted by more than 20% last year to the lowest levels since the start …
PitchBook: European VC investments rose 5% YoY to €66B in 2025, a post-pandemic high; AI-related deals accounted for 35%+, or €23.5B, up from €17.7B in 2024
Soaring valuations as venture capital flows to groups tied to continent's security and economic sovereignty
Sources, PitchBook data, and news reports: the founders of Perplexity, Figure AI, Safe Superintelligence, Harvey, and others joined the nine-figure club in 2025
Just like past tech booms, the latest frenzy has produced a group of billionaires — at least on paper — from smaller start-ups.