European venture capital investment reached its highest in a decade, with €6.4bn in 2017, according to Invest Europe.
Venture capital funds in Europe increased investments into companies of all stages and sizes last year. Seed and early-stage investments grew almost 50 per cent year-on-year, reaching €649 million and €3.5bn respectively, Invest Europe’s 2017 activity data report reveals.
Meanwhile, later-stage investments into larger companies reached €2.3bn, the highest level since 2008.
The information and communications technology sector received 45 per cent of the total investment, followed by biotech and healthcare (23 per cent) and consumer goods and services (eight per cent).
For the first time in 2017, European venture funds raised on average almost €100 million at final closing, almost double the average of 10 years ago.
Invest Europe data also reveals that European venture capital raised €7.7bn in 2017, close to 2016’s record €8.2bn fundraising year. Almost 1,200 companies were exited by VC funds last year, with a 60 per cent year-on-year increase in VC-backed companies going public.
• Invest Europe has named Nenad Marovac as its Chair for 2018 to 2019. Founder and Managing Partner of early-stage venture firm DN Capital, Marovac has over 25 years of investment experience in the technology and media sectors.