US Venture Capital Outlook

This report was updated on January 23, 2025, to correct two data points in the first outlook.

2025 is looking like a better year for VC 

Our venture analysts are feeling optimistic about 2025.  

The state of the VC industry has been pretty dreary lately. Late-stage deals are few and far between and tech IPOs even scarcer. But the temporary pain should pave the way for a strong 2025, according to PitchBook’s 2025 US Venture Capital Outlook. 

Interest rate cuts should jump-start some long-delayed public listings. Valuations are poised for a rebound. And we should see more acquisitions as investors face the acute pressure of liquidity generation. All in all, it’s shaping up to be a good year.