ARTICLE
18 August 2025

2025 Venture Capital Report

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WilmerHale

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WilmerHale provides legal representation across a comprehensive range of practice areas critical to the success of its clients. With a staunch commitment to public service, the firm is a leader in pro bono representation. WilmerHale is 1,000 lawyers strong with 12 offices in the United States, Europe and Asia.
This year's Venture Capital Report offers a detailed review of the US venture capital market, including a breakdown of venture financing activity by state, and analyzes key trends shaping the year ahead.
United States Corporate/Commercial Law

Note From the Editors

This year's Venture Capital Report offers a detailed review of the US venture capital market, including a breakdown of venture financing activity by state, and analyzes key trends shaping the year ahead. We examine the recent uptick in VC funding "mega-rounds" and discuss the FTC's efforts to standardize non-compete laws across the country and what this means for new and emerging companies. We also track recent trends in convertible note and SAFE terms, venture financing terms, and VC-backed company M&A deal terms.

Download 2025 Venture Capital Report

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