The World Economic Forum published a report, “The Future of Venture Capital: Unlocking Liquidity and Growth,” documenting strains in the VC recycling model and mounting capital tied up in private markets. The WEF reports nearly $3.5 trillion in global venture capital assets under management and an estimated $530 billion in deal value in 2025, while around $3.2 trillion of unrealized value remains in venture portfolios, including $1.7 trillion in funds launched in 2019 or earlier (World Economic Forum). Separate research from iConnections finds AI has moved from a theme to a central portfolio lens: 83% of allocators in 2026 cite the AI supercycle as a top theme and 44% identify AI infrastructure as the most compelling opportunity (iConnections). Editorial analysis: These reported trends frame AI as a material reallocating force for where allocators and GPs direct capital, increasing demand for new valuation and liquidity frameworks.
