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Daily edition

Tuesday 2 September 2025

28 rounds and $13.6B raised. The biggest: Anthropic, $13B.

Rounds
28 +17%
Capital raised
$13.6B ×40
Median round
$10.5M ×3.1

vs Tue 26 Aug

The day in charts

AI took 97% of the capital on this day, up from 49% on Tue 26 Aug. Anthropic alone raised $13B, 96% of it.

The 5 biggest rounds

The 5 biggest rounds raised $13.4B, 98% of the total.

The 5 biggest rounds, Tuesday 2 September 2025Anthropic: $13B; Kapital: $100M; Framer: $100M; CHARM Therapeutics: $80M; ProVerum: $80M Anthropic $13B · Series F K Kapital $100M · Series C Framer $100M · Series D CHARM Therapeutics $80M · Series B ProVerum $80M · Series B

Mega-rounds against the rest

3 of 28 rounds made 97% of the capital.

11% of the rounds were of $100M or more 11%of the rounds3 of 2897% of the capital came from rounds of $100M or more 97%of the capital$13.2B of $13.6B
Rounds of $100M or more, Tuesday 2 September 2025
RoundsCapital
$100M or more3$13.2B
The rest25$408M

Where the capital went

AI raised $13.2B, 97% of the capital. Choose a sector to filter the rounds below.

Capital by sector, Tuesday 2 September 2025 97% AI AI $13.2B 10 rounds 97% Enterprise software $154M 4 rounds 1% Climate & Energy $49M 2 rounds <1% Web3 $39.6M 3 rounds <1% Health $19.7M 4 rounds <1% Other sectors $98.7M 5 rounds <1%
Capital by sector, Tuesday 2 September 2025
SectorCapitalShareRounds
AI$13.2B97%10
Enterprise software$154M1%4
Other$91M<1%2
Climate & Energy$49M<1%2
Web3$39.6M<1%3
Health$19.7M<1%4
Consumer$7.7M<1%3

Where the rounds were

United States raised $13.1B, 96% of the capital. Rounds in 14 countries.

Capital by country, Tuesday 2 September 2025United States: $13.1B; United Kingdom: $118M; Netherlands: $106M; Mexico: $100M; Ireland: $80M; India: $60.3M; Germany: $11.6M; Israel: $11M; Hong Kong: $10M; Singapore: $10M; Finland: $3.5M; Italy: $2.1M United States $13.1B · 8 rounds United Kingdom $118M · 4 rounds Netherlands $106M · 2 rounds Mexico $100M · 1 round Ireland $80M · 1 round India $60.3M · 4 rounds Germany $11.6M · 1 round Israel $11M · 1 round

Most active investors

New Enterprise Associates joined 2 rounds, leading 2, more than any other investor.

Most active investors, Tuesday 2 September 2025New Enterprise Associates: 2 rounds, 2 led; OrbiMed: 2 rounds, 0 led; General Catalyst: 2 rounds, 0 led; Liquid 2: 2 rounds, 0 led; Y Combinator: 2 rounds, 0 led; ICONIQ: 1 rounds, 1 led; Meritech Capital: 1 rounds, 1 led; Tribe Capital: 1 rounds, 1 led; MVM Partners: 1 rounds, 1 led; Accel: 1 rounds, 1 ledLedJoined New Enterprise Associates 2 rounds · 2 led OrbiMed 2 rounds General Catalyst 2 rounds Liquid 2 2 rounds Y Combinator 2 rounds ICONIQ 1 round · 1 led Meritech Capital 1 round · 1 led Tribe Capital 1 round · 1 led MVM Partners 1 round · 1 led Accel 1 round · 1 led

Rounds by stage

Seed was the most common stage: 9 rounds, median $3.5M. The median round size is under each column.

Rounds by stage, Tuesday 2 September 2025 1 Pre $932K 9 Seed $3.5M 9 A $14M 3 B $80M 1 C $100M 2 D $71M 1 E+ $13B 2 Other $5.9M
Rounds by stage, Tuesday 2 September 2025
StageRoundsMedian round
Pre-Seed1$932K
Seed9$3.5M
Series A9$14M
Series B3$80M
Series C1$100M
Series D2$70.5M
Series E+1$13B
Other or undisclosed2$5.9M

The cities that raised

San Francisco raised $13B, more than all of Europe ($323M). Rounds from 12 cities.

Capital by city, Tuesday 2 September 2025San Francisco: $13B; Mexico City: $100M; Amsterdam: $100M; London: $83.6M; Dublin: $80M; Gurugram: $41.3M; Munich: $11.6M; Singapore: $10M; Bengaluru: $4M; Helsinki: $3.5M; Milan: $2.1M; Brussels: $932K San Francisco $13B · 2 rounds Mexico City $100M · 1 round Amsterdam $100M · 1 round London $83.6M · 3 rounds Dublin $80M · 1 round Gurugram $41.3M · 2 rounds

The last two weeks

This day against the 13 days before it. The biggest day of the two weeks.

Capital raised per day, Tuesday 2 September 2025 Wed 20 Aug: $1.6B, 31 rounds; Thu 21 Aug: $476M, 18 rounds; Fri 22 Aug: $143M, 9 rounds; Sat 23 Aug: $0K, 0 rounds; Sun 24 Aug: $150K, 1 round; Mon 25 Aug: $336M, 25 rounds; Tue 26 Aug: $344M, 24 rounds; Wed 27 Aug: $185M, 20 rounds; Thu 28 Aug: $1.1B, 13 rounds; Fri 29 Aug: $52M, 7 rounds; Sat 30 Aug: $0K, 0 rounds; Sun 31 Aug: $0K, 0 rounds; Mon 1 Sept: $152M, 11 rounds; Tue 2 Sept: $13.6B, 28 rounds $5B$10B$15B 20 21 22 23 24 25 26 27 28 29 30 31 1 2 $13.6B
Capital raised per day, Tuesday 2 September 2025
DayRoundsCapitalBiggest round
Wed 20 Aug31$1.6BGroup14 Technologies, $463M
Thu 21 Aug18$476MOntic, $230M
Fri 22 Aug9$143MStarian, $117M
Sat 23 Aug0$0K
Sun 24 Aug1$150KZaher AI, $150K
Mon 25 Aug25$336MParagraf, $55M
Tue 26 Aug24$344MAerospacelab, $65.3M
Wed 27 Aug20$185MLeal Therapeutics, $30M
Thu 28 Aug13$1.1BCommonwealth Fusion Systems, $863M
Fri 29 Aug7$52MDeftpower, $14.6M
Sat 30 Aug0$0K
Sun 31 Aug0$0K
Mon 1 Sept11$152MLayerX, $100M
Tue 2 Sept28$13.6BAnthropic, $13B
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