Global venture funding totaled $23 billion in April 2025, flat year over year and down significantly month over month from $68 billion invested in March, Crunchbase data shows.
April’s funding total marks one of the slowest months in the past year.
The slow month follows an exceptionally strong March, which had the highest monthly funding amount since 2022 due to the single largest private financing on record — $40 billion for OpenAI.
In April, the largest funding deal also went to an AI research lab: $2 billion at a $32 billion valuation for Safe Superintelligence, a startup co-founded by Ilya Sutskever, previously chief scientist at OpenAI. The new funding means SSI added $27 billion in value in the space of just seven months.
AI led
The leading sector for startup funding in April was again artificial intelligence. About $7 billion, or around 30% of global funding, went to AI-related companies last month, per Crunchbase data.
Runner-up leading sectors were healthcare and biotech, which raised $4.1 billion, and financial services with $3.8 billion.
Other notable sectors with large rounds were security, solar, transportation, energy and space.
U.S.-based startups raised $14 billion, or around 62% of global funding, last month. That marks a further percentage increase from 2024, when 56% of global funding went to U.S. startups.
Meanwhile, funding to China — the second-largest country for venture funding after the U.S. — totaled $1.7 billion. The UK and India tied for third place, with startups in each country raising just over $800 million last month.
Active investors pick up
Active investors Insight Partners, Accel, Andreessen Horowitz and Khosla Ventures led the most post-seed venture rounds in April.
The investors that led the largest deals into private venture-backed companies were private equity firms Greenoaks, Franklin Templeton and General Atlantic as well as venture capital firm Accel.
By funding stage, 10% was invested in seed stage companies in April, while 37% went to early-stage startups and 53% to late-stage financings.
Market uncertainty
April shows the extent to which the venture market remains mired in uncertainty amid broader economic turmoil fueled by U.S. tariffs and an escalating trade war.
Without the boost seen from a deal on the magnitude of OpenAI’s blockbuster investment, startup investment last month slumped, and could be a sign of more slowness ahead as investors tread carefully going into the second quarter.
Methodology
The data contained in this report comes directly from Crunchbase, and is based on reported data. Data reported as of May 2, 2025.
Note that data lags are most pronounced at the earliest stages of venture activity, with seed funding amounts increasing significantly after the end of a quarter/year.
Please note that all funding values are given in U.S. dollars unless otherwise noted. Crunchbase converts foreign currencies to U.S. dollars at the prevailing spot rate from the date funding rounds, acquisitions, IPOs and other financial events are reported. Even if those events were added to Crunchbase long after the event was announced, foreign currency transactions are converted at the historic spot price.
Glossary of funding terms
Seed and angel consists of seed, pre-seed and angel rounds. Crunchbase also includes venture rounds of unknown series, equity crowdfunding and convertible notes at $3 million (USD or as-converted USD equivalent) or less.
Early-stage consists of Series A and Series B rounds, as well as other round types. Crunchbase includes venture rounds of unknown series, corporate venture and other rounds above $3 million, and those less than or equal to $15 million.
Late-stage consists of Series C, Series D, Series E and later-lettered venture rounds following the “Series [Letter]” naming convention. Also included are venture rounds of unknown series, corporate venture and other rounds above $15 million.
Technology growth is a private-equity round raised by a company that has previously raised a “venture” round. (So basically, any round from the previously defined stages.)
Illustration: Dom Guzman
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