AI drives venture capital recovery as funding concentrates, Oddo BHF says

PUBT · 2d ago
AI drives venture capital recovery as funding concentrates, Oddo BHF says
  • Oddo BHF Asset Management’s analysis finds AI is driving venture capital’s recovery, concentrating investment in a small number of companies.
  • By 2025, just ten firms captured nearly 60% of US venture capital fundraising, squeezing emerging and midsize managers.
  • Weak exits have constrained investor liquidity, limiting new fund commitments despite recovering investment activity; exits remain well below 2021 levels.
  • US venture secondaries recently overtook IPOs as the primary source of venture capital liquidity for the first time.
  • Geopolitical fragmentation is redirecting capital toward strategic technologies, with national security priorities boosting investment in defense, AI infrastructure and energy resilience.


Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Oddo Bhf Asset Management SAS published the original content used to generate this news brief on October 21, 2026, and is solely responsible for the information contained therein.