Anthropic round lifts August venture capital funding to 5-month high

The $13 billion round of funding of artificial intelligence company Anthropic PBC increased the value of global private equity and venture capital-backed rounds of funding to $31.90 billion in August, the highest monthly tally since March, according to S&P Global Market Intelligence data.

The deal value increased from $27.04 billion in July and marked a 52% year-over-year surge.

However, the deal count fell to 966, the lowest monthly total since 2023.

The deal value of global rounds of funding is trending higher for 2025. As of Aug. 31, deal value totaled $221.12 billion, compared to $211.15 billion during the same period in 2024. The deal count was 9,977, falling below the 10,000 mark for the first time since 2023.

Aggregate transaction values and volume may not match figures reported for preceding periods due to subsequently acquired disclosures and updates.

– Download a spreadsheet with data featured in this story. – Read about trends in global private equity leveraged buyouts. – Read about trends in global private equity and venture capital deal value and volume.

The technology, media and telecommunications (TMT) sector accounted for the lion's share of total rounds of funding value in August, with $21.67 billion raised, representing approximately 68% of total value. Industrials and healthcare accounted for 8.4% and 7.6% of total value, respectively.

TMT deal count totaled 320, or 33% of the total volume. Application software was the most active TMT subsector in August with 167 deals, followed by systems software and electronic equipment and instruments with 30 and 24, respectively. The deal count fell across most TMT subsectors.

Top rounds of funding

Anthropic closed the largest round of funding in August, which was also the largest round so far this year through Aug. 31. The $13 billion round was co-led by Iconiq Capital LLC, Fidelity Management & Research Co. LLC and Lightspeed Ventures LLC. Other investors include Altimeter Capital Management LP, Baillie Gifford & Co., affiliated funds of BlackRock Inc., Blackstone Inc., Coatue Management LLC, D1 Capital Partners LP, General Atlantic Service Co. LP, General Catalyst Group Management LLC, GIC Pte. Ltd., Growth Equity at Goldman Sachs Alternatives, Insight Venture Management LLC, Jane Street Capital LLC, Ontario Teachers' Pension Plan Board, Qatar Investment Authority, TPG Inc., T. Rowe Price Group Inc., WCM Investment Management LLC and XN LP. The round saw Anthropic's valuation jump to $183 billion.

The second-largest round was by China-based CGN (Inner Mongolia) New Energy Investment Co. Ltd., which raised $1.64 billion from investors including ABC Financial Asset Investment Co. Ltd., BOCOM Financial Asset Investment Co. Ltd., China CCB Investment Co. Ltd., CS Capital Co. Ltd., ICBC Financial Asset Investment Co. Ltd., SDIC Chuangyi Industry Fund Management Co. Ltd. and SDIC Unity Capital Co. Ltd.