Pitchbook’s annual dataset shows that venture capital for European ecosystems was slightly lower last year, down to €91.6m from a record €108.9m in calendar year 2021, tech.eu reports.
Overall, 65.6% of the total deal value came from late-stage venture capital funding rounds and “venture growth” rounds (the latter is a new pitchbook classification introduced to capture mid- and later-stage activity). But this is a small increase from 64.8% in 2021.
The value of foreclosures reached the third highest level on record (€38.3 million) despite the worsening economic conditions and lower valuations, but the more difficult conditions are expected to continue this year. Unfortunately, exit values have fallen dramatically compared to last year (€137.7m) and according to Pitchbook 63 public IPOs have raised just €13.4bn. This trend is likely to continue into 2023, making the prospect of a corporate takeover a more enticing choice.