VC Megadeals Surge, AI Not Leading Sector

• Venture capital is still flowing for good companies despite the ongoing venture capital bear market.
• Down rounds were at near record highs through the first half of 2024, with around 39% of late-stage deals being a down round.
• Despite the gloom, late 2024 stats show a boom in megadeals, funding rounds of $100 million or more.
• Crunchbase tracked nearly 240 mega-rounds for U.S.-based startups so far this year, surpassing the 210 raised all of last year.
• The top category for these deals was not AI but biotech and healthcare startups, accounting for 87 mega-deals.

Source: Techcrunch