Record Highs, Record Lows: Tracking the Shifting VC Landscape
For venture capital, 2025 was remarkable for highs and lows.
Among the highs: Two of the three biggest quarters ever for venture funding took place last year.
And, the lows: Overall, firms closed a record-low number of funds.
This dichotomy inspires this edition of Venture Legal, exploring some of the ways in which the VC landscape is evolving, including:
⭐Record raises for the biggest VCs, but a difficult time for mid-level funds.
While big VC firms announce mega-fundraises, many newer and mid-level funds struggled in 2025.
⭐Venture capital goes global. VCs are traveling the world to find new investors, while India and other global markets have had robust activity.
⭐The potential upcoming IPO “mega-cycle.” Experts are predicting a possible “mega-cycle” for IPOs, and projecting what it will mean for VCs and LPs.
⭐Enterprise AI consolidation. As enterprise-focused VCs anticipate consolidation of AI spend, we may see even more M&A activity – a trend which may already be underway in LegalTech.
➡️Read the full feature story: Record Highs, Record Lows: Tracking the Shifting VC
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Evolving the VC Model
Speaking at a tech conference, Sarai Bronfeld, Partner at NFX, was quoted in the press as saying that the world of venture capital is changing very quickly. Large American funds are now operating less like traditional investors and more like private equity firms. Instead of waiting a decade for returns, they are actively shaping opportunities…
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5 LegalTech VC Trends to Watch
It seems that almost every week brings headlines of another multimillion-dollar LegalTech funding round. Supio, a Seattle-based AI platform designed for personal injury and mass tort plaintiff law firms, announced it had raised $60 million in Series B funding led by Sapphire Ventures, with participation from Mayfield and Thomson Reuters Ventures. This latest round brought the…
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LegalTech and the IPO Market-RIP or Activity Ahead?
Business Insider wrote that the much-anticipated IPO comeback may not materialize as expected. Despite optimism that 2025 would bring new momentum, the first quarter told a different story, with both Klarna and StubHub delaying their IPO plans. Against this backdrop of market uncertainty, I wanted to examine the potential for IPOs in the LegalTech sector and consider…
