Southern California’s Top 25 Venture Capital Deals of 2025
Business by LA Times Studios presents the 25 largest venture capital deals closed by Southern California companies in 2025. Information was provided by PitchBook and Crunchbase, with additional information from the companies themselves. The list includes equity fundraising; some companies may have concurrently raised debt. Several companies raised multiple venture capital rounds during the year. Each round was listed separately.
Deal Trends: Aerospace & Defense Lead the Way
Among the top 25 deals, Series C rounds were the most prevalent, accounting for eight of the top 25 deals. Series D rounds accounted for seven deals. The aerospace and defense sector accounted for the majority of deals, but there was a wide variety of industries represented including biotech, software, energy, apparel, finance and electric vehicle manufacturing.
Top Deal:
Anduril Industries Anduril Industries was the top deal of the year with $2.5 billion raised at a $30.5 billion valuation. The company more than doubled its valuation from the prior round after it reported that revenue had doubled in 2024 to about $1 billion.
