« back to reports
European VC Valuations Report

Q1 2021

European VC Valuations Report

June 1, 2021

Valuations of European VC-backed companies rose across the board in the first three months of the year. Figures climbed higher than last year's records despite lockdown-related uncertainty, rising unemployment, and unpredictable economic growth.
PitchBook's Q1 2021 European VC Valuations Report analyzes valuation changes across investment stages, sectors, and regions.

Key takeaways

  • Valuations were boosted by the increased presence of nontraditional and international investors, driving round sizes and valuations to new heights. 
  • Europe's maturing VC ecosystem has seen early-stage startups now carrying valuations and closing rounds similar to late-stage startups five years ago.
  • The median late-stage valuation reached €24.8 million in Q1 2021 and is on track to nearly double the record set in 2020 if the pace is maintained throughout the year.

Interested in sponsoring future editions of this report? Visit our media partnerships page to learn more.