VNTR News Oct 26: $100M+ Rounds Surge, Defense VC Heats Up, OpenAI Keeps Buying

Venture Capital, Web3, and Private Equity – News, Events, and VC Reads

Oct 26, 2025

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A Record Share Of Startup Funding Is Going To $100M+ Rounds

The percentage of U.S. startup funding going to rounds of $100 million or more reached an all-time high in 2025. It’s a development that should surprise no one who has been following the rise of AI megarounds. An estimated 70% of all U.S. startup funding this year went to jumbo-sized financings of $100 million and up, per Crunchbase data. That equates to around $157 billion spread across more than 300 reported rounds.

OpenAI continues acquisition streak with Software Applications

OpenAI has acquired early-stage AI startup Software Applications for an undisclosed amount. The acquisition is the latest in the ChatGPT maker’s ongoing shopping spree, during which it has spent billions buying startups, big and small. OpenAI CEO Sam Altman had previously invested in Software Applications personally alongside Context Ventures and Stellation Capital.

VCs in European defense sharpen focus on weapons and hardware

Specialized hardware and weapons systems are becoming priorities for VCs as their appetite for Europe’s defense tech market heats up. According to our latest analyst note, European defense tech startups raised $4.2 billion in the first nine months of this year, almost reaching 2024’s total. The segment attracting the most funding is autonomy and platforms, which includes autonomous air and ground systems.

Featured Conferences:

November 9-11 SUMMIT 3³ Abu Dhabi (Request invitation with 10% discount using VNTRS333)

Venture funding slowed in September quarter; exit activity at 7-year high

Venture funding in India slowed in the third quarter (Q3) of 2025 amid geopolitical uncertainty, though exit activity surged to a seven-year high, according to Venture Pulse from KPMG Private Enterprise, a quarterly report tracking investment trends globally across major regions around the world. While investors remained cautious, optimism persisted as initial public offering (IPO)-driven exits lifted sentiment.

Dell Technologies Capital On The Next Generation Of AI — And The Data Fueling It
Dell and its venture arm are seeing massive momentum, with $20B in AI server shipments projected and five portfolio exits since June, highlighting strong demand for enterprise AI infrastructure.

Marketing In The AI Era Has A Marketing Problem
Marketers risk losing trust as AI hype outpaces results. Industry leaders argue that overpromising AI-driven marketing tools has created a credibility crisis among investors and clients.

How Will We Know When Artificial Superintelligence Is Here?
A new Anthropic study reveals that advanced AI models engage in manipulative behavior at alarming rates, raising questions about control, ethics, and the signs of true superintelligence.

What The Second Wave Of Layoffs Means For Workers And Startups
The latest tech layoffs have flooded the job market with top talent, giving startups access to skills once out of reach but also increasing pressure on smaller teams to compete for hires.

VNTR Investor Forums

Our upcoming VNTR Forums bring together leading investors and thought leaders for a mix of insightful keynotes, thematic roundtables, and curated networking — designed to spark meaningful connections and co-investment opportunities. Reach out to Isha if interested in speaking or sponsoring.

Join us at the upcoming VNTR Investor Forums:

VNTR Family Office Forum Nov 27 (sponsorship packages)
VNTR Forum Abu Dhabi Dec 9 (sponsorship packages)
VNTR Forum Davos Jan 21 (sponsorship packages)
10+ VNTR Forums are planned in 2026

Cybersecurity Startup Investors Pulled Back In Q3
Cybersecurity funding dropped by a third from the previous quarter, signaling investor caution after a hot first half — though totals still exceed last year’s levels.

Blackstone sees end to private-equity distribution drought
Blackstone reported $9.3B in Q3 realizations, the firm’s highest this year, suggesting long-awaited liquidity is returning to private equity markets.

Stablecoins’ trillion-dollar rise meets the friction of traditional finance
Despite rapid adoption, stablecoins face liquidity and cost barriers that limit their potential to bridge crypto and traditional finance effectively.

Trump on CZ pardon: I’m told ‘what he did is not even a crime’
President Trump confirmed the pardon of Binance founder CZ after industry lobbying, calling the conviction “unjustified” and restoring him to the crypto spotlight.

US eyes quantum computing investments amid rising national security stakes
The U.S. is exploring CHIPS Act funding for quantum computing to stay ahead of China, marking a strategic pivot toward securing quantum leadership.

Bessemer partner says ‘no limit’ on European defence investments
Bessemer Venture Partners plans to deploy up to $1B into European defense startups, signaling surging VC confidence in the dual-use and security tech sectors.

Despite gov’t shutdown, crypto market structure bill ‘90% there’ — Coinbase CEO
Brian Armstrong says bipartisan progress on crypto legislation is accelerating, with a deal possible by Thanksgiving despite federal gridlock.

Are VCs reserving too much follow-on capital?
A new critique questions whether VC reserve strategies are excessive, arguing they may hurt LP returns and distort fund economics.

Revolut and Spotify investor to stop raising outside funds
One of Europe’s top VCs is closing to new LPs, signaling a shift in strategy toward focusing on portfolio companies over fundraising.

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