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.
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- 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.