European Venture Report

AI helps boost European VC in Q2 

European venture capital activity has ticked upwards in the past quarter amid a recovery in valuations. Our Q2 2024 European Venture Report, sponsored by J.P. Morgan, showed that AI deals saw notable growth, doubling in value from the previous quarter to €4.2 billion. In all, AI companies pulled in €6.3 billion in H1, making it the second-most-active vertical after SaaS.  

While there were some bright spots in the IPO market—including the listing of Dutch robotics company RanMarine Technology and Swedish fintech GreenMerc—the exit market remains mixed. So far this year, acquisitions have accounted for 85.6% of VC-backed exit value. Fundraising in H1 totaled €9.4 billion, with France & Benelux accounting for the largest share of capital raised, displacing the UK & Ireland for the first time since 2018.