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. 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.

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. READ MORE