Venture capital bounced back in 2025

January 15, 2026, Audio: "Last year, around $340 billion of VC funding was deployed. That marks a jump of at least $100 billion compared to any of the prior three years, according to a new report from Pitchbook and the National Venture Capital Association. The last spike in venture capital funding was back in the low-interest-rate, easy-money days of 2021. It was like “a drunken frenzy where venture capitalists gave a lot of money to a lot of people at very high valuations,” said Josh Lerner, a professor of investment banking at the Harvard Business School."