VC Investment Landscape in North America

H1 2025 Report • Published August 13, 2025

Q1-Q2 2025

StartupFuel Research

VC Investment Landscape

North America | H1 2025

TORONTO | NEW YORK | LONDON | SAO PAULO

64.1%

AI Deal Value

$162.8B

U.S. VC Total

54%

Canada U.S. Share

Key Insights

AI megadeals drove U.S. VC to its strongest first half since 2021, with artificial intelligence accounting for 64.1% of total deal value.

Canadian VC activity slowed notably, with growing dependence on U.S. capital reaching 54% of total funding.

AGI attracted nearly 69% of all AI investment, highlighting strong belief in foundational model development.

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About This Report

The VC Investment Landscape in North America H1 2025 report offers deep market intelligence on U.S. and Canadian venture capital activity. From the dominance of AI megadeals to Canada's increasing reliance on U.S. funding, we break down the trends shaping the second half of 2025. With insights on valuations, sector focus, and investor sentiment, this is a must-read for LPs, VCs, corporate investors, and ecosystem leaders navigating today's market.