European Venture Report: VC Dollars Rise In 2019

According to Crunchbase data, over $122 billion has been invested in European startups, across 48 countries, in the last five years.

Strong European growth in 2019 contrasts with our reporting on overall global venture, which is down year over year (largely based on China late-stage fundings slowing down in 2019).

Sweden, also part of Northern Europe, is the fourth-largest country for European funding rounds in 2019.

Western Europe includes Germany, France and Switzerland–three countries in the top six by funding counts and amounts.

In terms of deal volume, the United Kingdom took first place by far, with 1,425 deals totaling $14.31 billion in 2019, representing 40 percent of European funding in 2019.

The largest venture funding round for 2019 was London’s OneWeb, which raised $1.25 billion in March in a round led by Softbank–also the only VC round for a European company that was over $1 billion, according to Crunchbase.

Let’s take a look at the firms that are most active in European startups at each stage–seed, early- and late-stage venture.

Germany-based High-Tech Grunderfonds, Seedcamp in the U.K., and Kima Ventures in France are all among the most active seed-stage investment funds leading the larger seed rounds.

Active early stage investors (Series A and B rounds) in 2019 include Idinvest Partners, Partech and Bpifrance, which are all based in France.

The most active investors in late-stage rounds include European and global players.

Eurazeo a PE and venture firm based out of Paris also leads late-stage rounds.

The increase in funding in 2019 to European startups is visible at all stages.

Early-stage venture includes financings that are classified as a Series A or B, venture rounds without a designated series that are below $15 million and equity crowdfunding above $5 million unless otherwise noted.

Late stage venture includes financings that are classified as a Series C+ and venture rounds greater than $15 million.

Note: Fundings denoted by Crunchbase as corporate rounds or private equity are not included in this report.

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