Market Conditions Update Q3 2025
Key Takeaways:
- Robust and healthy private technology market
- Deal mark-ups set almost three-year highs
- AI companies continue to raise faster than non-AI counterparts
- IPO and M&A markets warm with a number of deals on file
- Investor demand remains for strong core business models
Download the summary report here.







About The Market Conditions Update
The Friends & Family Capital Market Conditions Update features metrics that we track internally on companies raising capital at valuations ranging from $1 Billion to $10 Billion.
This is one of the assets we review with founders, CEOs, and CFOs in our network as they prepare for their growth rounds.



