September update: Revenue & smarter company organization
September 19, 2025
Simplify deal sourcing with new company organization and revenue tracking features.
Investment pulse check: Software dominates, HealthTech heats up, and the US leads in record-breaking deals
Investment pulse check: Software dominates, HealthTech heats up, and the US leads in record-breaking deals
September’s investment data reveals a clear hierarchy in where capital is being deployed. The trends point to sustained confidence in technology and life sciences, with a significant portion of funds concentrated in a small number of large-scale deals.
Industry allocation: Software dominates
The software sector remains the primary destination for investment, securing US$6.61B across 103 deals. Financial Services followed with US$2.01B across 28 deals. This highlights the massive ongoing disruption in the fintech space, including digital banking, payment processing, and blockchain technologies.
Biotechnology and Healthcare also demonstrated their resilience and high-cost R&D nature, pulling in US$1.59B and US$1.5B respectively. These sectors continue to attract major investment as they tackle global health challenges and develop next-generation therapies.
Leading industries by capital invested
Leading industries by number of deals
Drilling down: The verticals defining our future
Looking beyond broad industries, the top-performing verticals tell an even more specific story about our technological priorities:
- HealthTech (US$1.75B): Investment here is driving advances in telemedicine, personalized health data, and medical diagnostics software.
- Deep Learning (US$1.1B): As a subset of AI, Deep Learning’s massive funding confirms that the AI revolution is in full swing. Companies specializing in neural networks and complex data modeling are essential for the next leap in automation and intelligence.
- Manufacturing & Infrastructure (~US$1B each): These two verticals, each attracting just over a billion dollars, show a balanced focus on the core pillars of the modern economy: advanced manufacturing (Industry 4.0) and the critical infrastructure that supports it all.
Top 5 performing verticals by capital invested
Top 5 performing verticals by number of deals
A Global stage: The US widens the gap
Geographically, the distribution of capital is stark. The United States firmly leads the pack, with US$12.73B invested across 147 deals. This represents a vast majority of the total capital, reinforcing its position as the world’s primary innovation hub.
The United Kingdom holds a strong second place with US$1.7B, maintaining its role as Europe’s financial and tech center. India follows closely with US$1.37B, signaling its explosive growth as a major market and source of innovation.
The appearance of Guatemala with a massive US$830M from just two deals is a notable outlier, potentially pointing to a rising star or a single, transformative project in the region.
Top 5 performing countries by capital invested
Top 5 performing countries by number of deals
The Billion-Dollar Club: Companies with the largest deals
The largest individual deals highlight the scale of current investments:
- StubHub: US$800M | Internet | Operates a ticket exchange and resale marketplace.
- Groq: US$750M | Software | Develops specialized hardware and software for AI computing.
- Larsen & Toubro: US$700M | Logistics & Distribution | An Indian multinational providing engineering and construction services.
- Avidity Biosciences: US$690M | Biotechnology | Researches and develops RNA-targeted therapeutics.
- Nscale AS: US$683M | Software | A UK-based company building scalable software infrastructure.
Key takeaways for the road ahead
3.1 US dominance, Driven by AI infrastructure
The current investment landscape is characterized by a strong focus on software and health technology. Funding is not only concentrated in these sectors but also geographically, with the US capturing most of the capital. The prevalence of deals nearing the billion-dollar mark indicates a strategic shift towards making fewer, but substantially larger, bets on established front-runners.
The data in this blog is based on completed deals across all investment rounds in September 2025.
Share the news
Need deeper, real-time insights into private markets?
Data aggregator designed to help investment professionals find, analyze, and evaluate opportunities in private markets.
More product news
The end of incomplete due diligence: faster, smarter, AI-powered
August 28, 2025
This update introduces AI-powered due diligence that eliminates manual research and provides faster, smarter insights.
How people data and precision reports are transforming private market investing
July 22, 2025
This update delivers real-time people data, business model clarity, and 5-year risk insights to help you qualify smarter and close stronger.