Global venture investment could rise even as fewer deals closed because a small number of exceptionally large rounds lifted the total. The figures depend on the data provider: KPMG Private Enterprise counted $368.3 billion in 2024, up from $349.4 billion in 2023, while its reported deal count fell to about 35,685 from 43,320. Other providers published materially different totals, so the $368.5 billion and 17% decline in the original headline should not be treated as a universal measure of the market.
How much did global venture capital investment rise in 2024?
In KPMG Private Enterprise’s 2025 Venture Pulse report, global VC investment rose to $368.3 billion in 2024 from $349.4 billion in 2023. That is an increase of about 5.4%. The report’s deal count, however, declined from 43,320 in 2023 to roughly 35,685 in 2024.
KPMG gives 35,684 deals in the report’s main text and 35,685 in its highlights. Both figures show a sharp fall from 2023; using “about 35,685” avoids implying greater precision than the report supports. The 17% decline in the headline is associated with a PitchBook–NVCA first look, not the KPMG report, and the available figures do not establish that the providers use identical definitions.
Why could funding rise while the number of deals fell?
Total investment measures dollars deployed, while deal count measures transactions. A market can therefore record fewer deals but more investment if the remaining rounds are much larger. In 2024, a small group of very large financings—many connected to AI—accounted for a substantial share of reported activity.
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WIPO says deals involving Databricks, OpenAI, xAI, Anthropic and Waymo totaled around $40 billion, approximately 10% of WIPO’s reported 2024 total. Without those megadeals, WIPO says investment would have fallen by more than 3% year over year. KPMG likewise describes record multibillion-dollar AI deals as a major driver of its strong fourth quarter and annual investment total.
That concentration matters when interpreting a headline increase: it does not mean that funding rose broadly across companies or that the typical startup found it easier to raise capital. KPMG reported larger median Series B, C and D+ rounds in the Americas and Europe, but that does not erase the decline in the overall count of deals.
Why do global VC reports give different totals?
Providers publish different estimates because their datasets and coverage are not established as a single harmonized measure. The figures below are each provider’s own reported series, not competing arithmetic versions of one agreed total.
| Provider and report | 2024 investment | Deal count or comparison | Important qualification |
|---|---|---|---|
| KPMG Private Enterprise, Venture Pulse (2025) | $368.3 billion, up from $349.4 billion in 2023 | About 35,685, down from 43,320 in 2023 | The report gives 35,684 in its main text and 35,685 in its highlights. |
| WIPO (2025) | $384 billion; deal values rose 7.7% | Around 43,000 deals, down 4.4% | WIPO says this was the third consecutive year of falling deal volume and remained well below its roughly $750 billion 2021 peak. |
| Crunchbase News analysis of Crunchbase data (2025) | Close to $314 billion, versus $304 billion in 2023; up around 3% | Not stated in the cited analysis | Crunchbase says its data was current as of January 3, 2025; early-stage data can lag. |
Crunchbase also says more than $100 billion went to AI-related companies in 2024, up more than 80% from $55.6 billion in 2023. Its analysis reports that $58.3 billion—19% of its own 2024 total—went to billion-dollar rounds. Those concentration figures describe Crunchbase’s dataset and should not be combined with KPMG’s or WIPO’s totals.
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1Scan for outdated or missing drivers - takes under a minute2Clear out junk files and repair common Windows errors3Fix the driver behind crashes, sound loss and screen glitchesCrunchbase notes that foreign-currency amounts are converted using the historic spot rate on the funding event date, and that seed and early-stage data can arrive with a reporting lag. Different coverage and later revisions can affect reported totals; a difference between providers is not, by itself, evidence that one has simply corrected another.
Which regions attracted the most venture capital?
KPMG’s 2024 regional figures show the Americas leading, followed by Asia-Pacific and Europe. The year-over-year movement was not uniform: investment rose in the Americas but declined in Europe and Asia-Pacific.
| Region (KPMG series) | 2024 investment | Comparison with 2023 |
|---|---|---|
| Americas | $221.7 billion | $173 billion in 2023 |
| Asia-Pacific | $78.8 billion | KPMG called this a nine-year low. |
| Europe | $62.4 billion | $67.6 billion in 2023 |
The United States accounted for $209 billion of the Americas’ 2024 total, compared with $162.2 billion in 2023. This geographic breakdown helps explain why a strong Americas result could coexist with weaker results in other regions.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What happened in the fourth quarter?
KPMG recorded $108.6 billion across 7,022 deals globally in Q4 2024. It described that as the lowest quarterly deal volume in more than ten years. The Americas accounted for $78.7 billion, including $74.6 billion in the United States. A high quarterly dollar total alongside unusually low deal volume is consistent with activity concentrated in large rounds.
Best Value
How should investors and readers use these figures?
- Keep value and volume separate. Total dollars invested can increase while the number of transactions falls; neither figure alone describes the experience of a typical startup.
- Keep each provider’s estimate attached to its source. KPMG’s $368.3 billion, WIPO’s $384 billion and Crunchbase’s figure close to $314 billion are distinct reported series.
- Read the date and coverage notes. Crunchbase’s analysis reflects data reported as of January 3, 2025 and flags early-stage reporting lag. Historical totals may change as data is updated.
- Do not treat VC investment as a catch-all financing measure. Investment totals are not interchangeable with fundraising by VC funds, company exits, commitments or every form of startup financing.
For the KPMG figures, see KPMG Private Enterprise’s Venture Pulse. WIPO’s series is in its 2025 venture capital indicators, and Crunchbase’s estimates and methodology notes appear in its 2024 global funding analysis.
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