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Laxman Pai, Opalesque Asia:

During Q4'24, the US saw total VC investment rise to its highest level since Q2'22 as interest and investment in AI continued to be red-hot. The sector accounted for more than half of the country's top ten deals, including the first $10 billion venture round ever seen in the US.

According to the Q4'24 Venture Pulse Report by KPMG, despite the significant uptick in deal value in the US, the total number of VC deals remained subdued during Q4'24.

VC investors continued to focus on quality over quantity given the ongoing uncertainties in the market, including global conflicts and geopolitical tensions, the US presidential election which occurred mid-way through the quarter, and the ongoing lack of exits.

Meanwhile, Q4'24 was a banner year for multi-billion dollar VC deals in the US. Five companies raised VC rounds at or above $4 billion, including Databricks ($10 billion), OpenAI ($6.6 billion), xAI ($6 billion), Waymo ($5.6 billion), and Anthropic ($4 billion). All five companies are major players in the AI space, with OpenAI, xAI, and Anthropic focused primarily on generative AI and Waymo focused on using AI to enable autonomous driving capabilities.

Heading into Q1'25, VC market participants will be watching the exit market in the US, with growing expectations that IPO activity will pick up significantly. While a major rise in IPO exits right out the gate may not be in the cards given the uncertainty associated with the forthcomin......................

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