March may not have had the fireworks of an xAI-SpaceX merger, but longer-term growth now looks locked in.
March was always going to be a quieter month for exits than February, when generative AI developer xAI was merged into SpaceX, but with $11bn disclosed from 60 exits, investors can benefit from an exit market that appears to be holding relatively steady following the covid-19 market downturn.
In comparison, March 2025 had a much higher disclosed exit value of $46bn from 56 exits, though $32bn of that amount was due to Alphabet's acquisition of cloud security software provider Wiz, which counted SoftBank as an investor. Take out that deal and the year-on-year growth in exits begins to look more clear.
March 2024, for instance, only saw $3bn from 27 exits, a clear indication that the venture recovery period was yet to arrive. Track the exits market since that point and the trajectory has largely remained upward, with some peaks but no major dips. All of this is a positive sign for corporate investors seeking returns.
