Europe is on course to break records for fundraising and deal values in the venture capital sector this year.
Investors have poured €11 billion into Europe-focused funds in the first seven months of 2018, according to data from researcher Preqin. The firm has recorded 1,403 deals totalling €11 billion in the same period.
The good performance means this year is on course to exceed a record set in 2016, when €15 billion (£13.3 billion) in fundraising was recorded.
“Venture capital and growth investment activity in recent years has been a tale of two regions – the contest between North America, still regarded as the pre-eminent home of the technology and start-up industry, and Asia, the swift-expanding home of tech giants like Didi Chuxing and Ant Financial,” said Christopher Elvin, head of private equity products at Preqin.
“Asia’s rise has perhaps somewhat overshadowed Europe as an area of growth for the industry, but clearly it is in good health. 2016 saw fundraising exceed €10 billion for the first time, a level likely to be surpassed in 2018. Deal activity is similarly on course to reach an all-time high.”
Since 2013, the UK accounted for both the largest number of deals and highest deal value in Europe’s venture capital sector, according to Preqin.
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