PitchBook has published their Q3 2023 European VC Valuations Report

Published 21 December 2023


Key takeaways from the report on Europe include:

  • Median valuations declined across all stages compared to 2022, with venture growth most effected and late-stage investments being the most resilient. Venture growth valuations declined by 26.1% through the first nine months of the year versus the full year 2022.
  • Valuations across all stages have been on the rise since Q1 2023, indicating potential signs of market recovery.
  • Median exit valuations have decreased due to shifted market conditions, down to a median of EUR 25m, compared to EUR 33.2m in 2022.
  • The biotech, pharma, and consumer tech sector has shown signs of resilience with increases in median deal sizes and valuations across various stages.

Read the full report here.