Observed Signal · Oct 23, 2023 · Market Report · Source: Trending Topics · Impact: 3/5 · Sentiment: Negative
European VC Deal Value Falls 49%, PitchBook Report
The new European venture report for Q3 2023 by PitchBook reveals a sharp downturn across the venture capital market. Deal value in Europe reached €43.6 billion in the first nine months of 2023, down 49.1% from the same period in 2022. Late-stage activity fell 61.9%, while early-stage shows sequential growth. Cleantech and AI startups dominated the largest deals, with France and Benelux showing resilience. Exit value plunged 72.8% to €9.1 billion, hitting a decade low, with IPO exits down 79.8%. VC fundraising also dropped sharply to €13.9 billion versus €27.6 billion in 2022. The report suggests 2023 will not recover to previous highs, but quarterly trends indicate gradual improvement.
Provides critical market data on European VC funding declines, affecting investment across tech startups including AdTech/AI sectors.
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Key Takeaways & Evidence Grounding
- European VC deal value totaled €43.6 billion in first nine months of 2023, down 49.1% year-over-year.
- Late-stage deal activity fell 61.9% in the first three quarters of 2023 compared with 2022.
- Exit value reached €9.1 billion, a 72.8% decline, projected as the lowest since 2013.
- VC fundraising in Europe raised €13.9 billion, down from €27.6 billion in 2022.
- Five of the ten largest Q3 deals were in cleantech, with AI technologies also prominent.
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