Observed Signal · Jul 21, 2025 · Market Analysis · Source: Trending Topics · Impact: 3/5 · Sentiment: Negative
European VC Fundraising Hits Lowest Since 2015
European venture capital funds raised only €5.2 billion in the first half of 2025, the lowest figure since 2015, according to Pitchbook data published by Bloomberg. Weak exit markets and declining returns to investors are cited as the primary causes, with profit-generating exits remaining rare after four years of falling returns. Industry experts forecast a further 10% decline in exit activity during 2025. The funding squeeze is driving an increase in secondary transactions, which reached $52 billion globally in Q1 2025, and a 'flight to quality' with over 80% of EU deals now exceeding €10 million. Sectors such as defense and artificial intelligence continue to attract disproportionate capital. The slowdown reduces 'dry powder' and could lead to consolidation among established investment houses, while new and smaller funds struggle.
Declining VC fundraising in Europe directly impacts the availability of capital for AI, Deep Tech, and digital infrastructure startups, which are integral to the AdTech/MarTech ecosystem's innovation pipeline.
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Key Takeaways & Evidence Grounding
- European VC funds raised €5.2 billion in H1 2025, the lowest since 2015.
- Weak exit markets and declining investor returns are the main causes of the fundraising drop.
- Global secondary market transactions hit $52 billion in Q1 2025.
- Over 80% of EU venture deals now exceed the €10 million threshold.
- Defense and artificial intelligence are attracting disproportionate venture capital.
Connected Companies & Entities
3 Entities mapped“According to Pitchbook data published by Bloomberg, European VC funds raised €5.2B in H1 2025....”
“The Pitchbook data was published by Bloomberg....”
“Andreas Schwarzenbrunner of Speedinvest commented on the impact of the funding decline....”
Ontology Mapping & Concepts
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