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Netherlands

Dutch decline: Mapping the Netherlands’ VC ecosystem

Funding for Dutch startups fell significantly in 2023 with the persisting VC downturn.

The Netherlands saw a significant drop in venture capital dealmaking in 2023, although signs of recovery appeared in the last quarter of the year.

The country recorded 516 deals worth a combined €2.3 billion for the year, according to PitchBook’s Q4 2023 Netherlands Market Snapshot, down from 615 rounds totaling €3.2 billion in 2022. However, deal count ticked upward in Q4 to stand at 117 and deal value remained stable.

Early-stage rounds were the most prevalent, although both the late stage and venture growth grew their share of overall deal count in 2023. The Netherlands saw only a handful of mega-deals, including biotech startup VectorY Therapeutics’ €129 million (about $140 million) Series A and energy transition company EIT InnoEnergy’s more than €140 million round.

Here’s a look at the Netherlands’ venture ecosystem, highlighting major trends across dealmaking, fundraising and exits.

Featured image by Alexander Spatari/Getty Images

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