SVB硅谷银行：2025年度企业创投（CVC）现状报告（英文版）

CVC deal activity is set to make a comeback this year, with 2025 on track to record the highest investment in three years. Deal counts, on the other hand, are continuing to trend down. While this trend can’t be explained by CVCs writing bigger checks — in fact, the opposite is true — it can be explained by CVCs participating in large, highly valued AI rounds where a CVC may contribute a portion of the total value of the round. The picture is one of calculated optimism: fewer deals but sharper ta