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Q3 2023
Germany Market Snapshot
November 9, 2023
German PE shows strength amid weaker VC performance
Private equity dealmaking in Germany has increased compared with last quarter and shown less of a decline than venture capital year on year despite a cooling economy. German VC deal value has continued its slump, according to our Q3 2023 Germany Market Snapshot—the latest in our Country Snapshot series.
While the German economy is forecast to grow next year, factors such as high inflation and weak consumption continue to weigh heavily on the financial markets, including IPOs, which have almost completely ground to a halt.
Although Berlin is the biggest hub for private markets activity, other cities, such as Munich and Hamburg, also account for a significant share.
Table of contents
Private equity dealmaking in Germany has increased compared with last quarter and shown less of a decline than venture capital year on year despite a cooling economy. German VC deal value has continued its slump, according to our Q3 2023 Germany Market Snapshot—the latest in our Country Snapshot series.
While the German economy is forecast to grow next year, factors such as high inflation and weak consumption continue to weigh heavily on the financial markets, including IPOs, which have almost completely ground to a halt.
Although Berlin is the biggest hub for private markets activity, other cities, such as Munich and Hamburg, also account for a significant share.
Table of contents
| Market overview | 2 |
| Commentary | 3 |
| City comparison | 4 |
| Heatmap | 5 |
| Macro activity | 6 |
| Equity markets | 7 |
| Private markets | 9 |
| VC deal activity | 11 |
| VC exit activity | 13 |
| VC fundraising activity | 14 |
| PE deal activity | 15 |
| PE exit activity | 17 |
| PE fundraising activity | 18 |
| Credit markets | 19 |