Venture capital funding maintained its strong trajectory in Q3 2025, crossing the $80 billion mark with impressive momentum despite a continued decline in deal volume. While the number of deals dropped to an estimated 4,208 transactions, the size and ambition of funded companies continued to climb, creating an unmistakable bifurcation in the market. 

Drawing insights from Pitchbook-NVCA Venture Monitor, here's a breakdown of the key trends we're watching。