European VC Valuations Report

European VC valuations largely survive 2023’s corrections 

Europe’s venture market saw many valuation corrections last year, but the median pre-money price tag still increased year over year across most stages. Only the seed and venture-growth stages suffered declines, according to our 2023 Annual European VC Valuations Report, and only venture growth registered a lower median deal value in 2023. 

While valuations are not expected to rebound to 2021 levels any time soon, there are indications that Europe may have reached the low point of the valuation dip. Changes in interest rates will likely determine the extent of recovery in VC valuations going forward.