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Recent Editions
Risk Channel
North America
Venture capital fundraising in the U.S. fell 35% in 2025 to $66bn, the weakest showing in at least six years, as start-ups remain private longer and capital concentrates in top-tier firms, according to PitchBook. Fundraising is down 70% from 2022’s record high, with large players like Lightspeed and Founders Fund securing billions, while new managers struggle. The trend is driving cash-heavy AI start-ups toward alternative backers like sovereign wealth funds and hedge funds, amid a record $222bn raised for U.S. AI firms last year. Upcoming IPOs from companies including SpaceX and OpenAI could help revive the VC ecosystem.
Full Issue
Risk Channel
UK/Europe
US tech giants including Alphabet's Google, Meta Platforms, Microsoft and Amazon will not face heavy-handed regulations in Europe's forthcoming rule revamp known as the Digital Networks Act, which aims to boost the region's competitiveness and investments in telecoms infrastructure, sources say. "They will be asked to cooperate and discuss voluntarily, moderated by EU telecoms regulators' group BEREC. There will be no new obligations. It will be a best practices regime," one of the people said. EU tech chief Henna Virkkunen will present the rule overhaul on January 20.
Full Issue