European VC activity in 2022 did not fall below pre-2021 levels

Published 9 January 2023


The European VC market changed in 2022 compared to record breaking 2021. Startups in Europe raised in total EUR 81 billion across 9,921 deals per 14 December 2022, according to data from PitchBook, a provider of capital market data.

This is a decrease from 2021 of 18.6% and 14.3%, respectively, and is due to rising interest rates, inflation and geopolitical circumstances. However, the activity did not fall below pre-2021 levels. This is in line with Vækstfonden’s analysis of the Danish VC market in 2022, which we have written about here.

You can find the full analysis of the European VC market from PitchBook here.