In 2024, artificial intelligence (AI) startups captured a substantial portion of venture capital (VC) funding, accounting for 35.7% of all global VC deal value, according to Pitchbook data. This trend highlights the growing interest and investment in AI and machine learning (ML) sectors. However, the overall performance of venture capital is facing challenges, with reports indicating a downward trend in internal rate of return (IRR) across the industry. Thrive Capital has emerged as a standout performer, with its newer funds exceeding traditional expectations and breaking the conventional 'J-curve' for venture returns, as detailed in new data from UTIMCO. In contrast, the Irish VC landscape saw a decline, with deal values dropping to €700 million in 2024, the lowest level since 2019. As the venture capital market navigates these dynamics, industry experts are optimistic about the potential for recovery and growth in 2025.