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European VCs have raised more than €10.6B funds since 2016
VC funds raised (€B) and # of VC funds closed per year by fund size
Global investors are taking notice of the world-class technology companies backed by European venture capital, and the returns being generated. Since 2012, more than 1,800 venture-backed technology companies, born in start-up hubs across the continent, have been exited. The results are clear: last year European VC fundraising hit an all-time high of €6.4 billion
First-time funds account for ~25% of funds raised by VCs in Europe and have raised €3B since the start of 2016, although the data shows a slowdown in number of first-time funds being closed
Funds raised (€B) and number of funds closed per year by fund type
Even if the absolute numbers have slowed, Europe continues to see the emergence of first-time VC fund managers targeting a diverse set of geographies and sectors
Selected first-time fund launches in Europe in 2017
| Firm | Country | Fund size | Focus areas |
|---|---|---|---|
| Apex Ventures | Austria | €10M | Early-stage, Austria |
| Axeleo Capital | France | €25M | Early-stage, France |
| BlackFin Tech Fund | France | €100M | Fintech, Insurtech, Regtech |
| Brighteye Ventures | France | €50M | Education |
| Crowberry Capital | Iceland | €33M | Early-stage, Iceland |
| Firstminute Capital | UK | $85M | Early-stage, Europe |
| Icebreaker.vc | Finland | €18M | Early-stage, Nordics |
| Rewired | Switzerland | $100M | Robotics |
| Rooks Next Capital | UK | £28M | Media & entertainment |
| Suir Valley Ventures | Ireland | €20M | Early-stage, Ireland |
| VentureFriends | Greece | €20M | Early-stage, Greece |
| Wave Ventures | Finland | €1.2M | Early-stage, Nordics |
Funds raised in France, Germany and the UK account for two-thirds of VC funds since the start of 2016, but the past few years have seen large increases in funds raised in new geographies, including Spain, Netherlands and beyond
VC funds raised by country of GP by year
European countries can take the lead of the digital revolution. In France alone, investments in start-ups tripled over the past three years. More can and must be done to build the digital champions of tomorrow, with investments in deep technologies and while keeping in mind the requirement of digital inclusion.
The sum of total funds raised is at an all-time high, but since the number of new funds closed has not been increasing, the average fund size - both in terms of mean and median - has increased significantly
Median and mean fund size at final closing by year
European VC fund sizes have increased significantly
- 3x
- increase in mean VC fund size in Europe since 2012
