The Venture Capitalists Set to Win Big in 2025

For three years, venture capitalists struggled to return cash to their investors. In 2025, many believe the dam is about to break.

With more than a dozen tech startups on track to list publicly next year, early and large investors in companies including Klarna, Chime and CoreWeave will have the opportunity to cash out their shares. Below, we list the VC firms and investment partners who are likely to have a banner year due to expected initial public offerings, including new details on ownership stakes and expected returns in Chime, Snyk, Cato Networks and ServiceTitan.