Deal-making is so back!

With 6 days still left in the quarter (and a few rumored deals), Q1 2025 has already set new records for billion-dollar startup acquisitions.

While Q1 2025 is currently tied with Q1 2000 (dot com) and Q4 2020 (ZIRP) for deal count, each with 11 startup acquisitions valued at over $1B, the current quarter blows the previous valuation records out of the water.

Driven by Wiz's record-breaking in its own right $33B acquisition by Google, billion-dollar startup acquisitions have netted $54.5B in Q1 2025 – up a mind-boggling 44% versus the previous $37.7B record from Q1 2022.

With big money M&A hotter than ever and long-awaited IPOs imminent, 2025 is on track to be the exit market we've all been waiting for.

Will the momentum keep building?