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European Venture Report

Q3 2020

European Venture Report

October 28, 2020

European Venture Report
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The latest edition of the European Venture Report examines trends in dealmaking, exits, and fundraising in the region, with a spotlight on France & Benelux. Despite the COVID-19 pandemic, European VC deal value is astonishingly on pace to set a new annual record by year end, with startups utilizing funding from nontraditional sources such as CVC arms, sovereign wealth funds, and serial angel investors. Regional VC hubs, especially those laden with pharma & biotech and software startups, have drawn outsized capital. In addition, after a sluggish start to 2020, European VC exit value recovered in Q3. While exit value still looks set to post the slowest year since 2012, a small collection of transactions could influence year-end figures. LPs and GPs exhibited a refreshing confidence and appetite to commit to and raise new funds in the quarter, even in the current climate. Fund sizes in Europe have continued to grow in 2020, and we believe a new annual fundraising total could emerge by the end of Q4. 

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