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European Venture Report

Q3 2021

European Venture Report

October 20, 2021

European Venture Report
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Note: This is an older edition from this report series. Here is a link to the most recent edition of the European Venture Report.

€74B in capital invested, €115B in exits: European VC's record year

VC investment in Europe totaled €24 billion in Q3, the second-highest quarterly figure in history. What's more, the three largest quarters for European VC deal value have been the three completed quarters of 2021, as the continent’s venture ecosystem rewrites its record books. Our Q3 European Venture Report tracks the trends that are shaping an unprecedented year in VC, as the early pandemic-driven uncertainty has been replaced by investor confidence and promising growth.

Key takeaways
 
  • Late-stage rounds dominate dealmaking, accounting for nearly 74% of the quarter’s total deal value of €73.7 billion.
 
  • Annual exit value surpassed €115 billion through Q3, already an annual record and nearly five times the amount reached in 2020.
 
  • Fundraising is slightly below record pace but still on a path to reach €20 billion in aggregate by year’s end.

Table of contents
Introduction 2
Overview 3
VC deals by region and sector 6
Nontraditional investors 7
Spotlight: Unicorns defining the new norm 9
Exits 11
Fundraising 13