Key takeaways include:
- Deal value will end below 2022: Venture capital deal value in Europe for the first nine months of 2023 was €43.6 billion, down 49.1% compared to the same period in 2022. However, there are signs of recovery, with deal value increasing by 5.9% in Q3 2023, indicating potential improvement.
- Exit activity in the VC ecosystem remained weak throughout 2023: 2023 saw no significant quarter-over-quarter recovery. Public listing values were particularly depressed, while buyouts showed more resilience. The software industry dominated the top exits in Q3 2023.
- VC funds fundraising halved: In 2023 fundraising reached €13.9 billion over 91 vehicles, half the level of 2022. Fundraising trends indicated a challenging environment, with median fund closing times increasing to 15.1 months compared to 9.0 months in 2022. France & Benelux and DACH regions gained the most share of capital raised, with 27.8% and 24.3% respectively, reflecting a shift towards more experienced fund managers.
Read the full report here.
