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Laxman Pai, Opalesque Asia:

Global venture capital (VC) investment soared from US$75.4 billion to $94.3 billion between Q1'24 and Q2'24, fueled by nine $1 billion mega-deals-the second largest total ever seen in a single quarter, revealed a study.

According to KPMG Private Enterprise's Venture Pulse, while VC investment rose to a five-quarter high, deals volume fell to 7,691-the lowest level seen globally since Q3'16.

"The low deal volume mirrors the ongoing challenges faced by the VC market, including the high interest rate environment and geopolitical uncertainties," the study said.

AI accounted for over half of the ten largest funding rounds globally during Q2'24 as VC investors continued to pour money into the space, according to the Q2'24 edition of KPMG Private Enterprise's Venture Pulse- a quarterly report highlighting VC investment trends globally and in key regions around the world. These AI deals were led by a $8.6 billion raise by CoreWeave and a $6 billion raise by xAI-based in the US.

Exit activity remained quite soft globally in Q2'24, although there were a few notable exceptions. In the US, cybersecurity firm Rubrik raised $752 million in its IPO, while marketing company Ibotta raised $577 million. UK-based budget computer company Raspberry Pi raised $211 million in the UK's second-largest IPO of the year.

Heading into Q3'24, VC investment globally is expected to remain relatively steady, with AI continuing to attract a large share ......................

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