Venture capital activity in Central and Eastern Europe got off to a slow start in 2023, and the region registered its lowest quarterly deal count in over five years.
The global slowdown in VC dealmaking and political instability due to the war in Ukraine have had a significant impact on startups in the region. In Q1, only €360 million was invested across 125 deals, declines of 71.6% and 59.4%, respectively, from the same period last year, according to PitchBook data.
Poland is leading the region in deal count with 32 completed rounds—headless commerce platform Vue Storefront‘s $17.4 million fundraise among the largest. Estonia, which was one of the few countries in Central and Eastern Europe to register an increase in deals last year, follows in second place with 21 deals.
Here’s a snapshot of Central and Eastern Europe’s venture ecosystem, exploring highlights across dealmaking, fundraising and exits.
Featured image by Wead/Shutterstock
