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Alternative Market Briefing

European venture capital industry records strongest quarter ever

Thursday, May 16, 2019

Laxman Pai, Opalesque Asia:

European companies raised €5.1 billion of venture capital funding during the first three months of 2019, an increase of 76% year-over-year, and marking the strongest first quarter ever recorded, says financial market data company Refinitiv in a new review.

Despite the record-breaking deal values in the period, a total of only 339 venture capital deals were completed in the first quarter. This was down 4% from Q1 2018 and marked the slowest start to a year since 2008.

European companies saw buyout and related deal values of €18.8 billion in Q1, down 12% from the same period last year and 1% from the same period in 2017.

A total of 326 buyout and related private equity deals were completed during the first three months of 2019. Against the drop in values throughout the period, these volumes were up 53% from the previous year.

London-based OneWeb raised the most venture capital in Q1, with investors SoftBank Investment Advisers, Qualcomm Technologies and Grupo Salinas ploughing €1.1bn into the satellite internet company.

German fintech N26 had the second-largest fund raise at €259.9m, backed by Insight Venture Partners, GIC, Allianz X and Earlybird Venture Capital.

Meanwhile, European companies saw buyout and related deal values of €18.8bn in Q1, down 12pc from the same period last year and 1% from the same period in 2017.

However, 326 buyout and related private-equity deals were completed during the first three months o......................

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