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Laxman Pai, Opalesque Asia: VC investment in Europe rose, driven by strong geographic diversity, while Asia-based VC investment fell to twelve-quarter low amid COVID-19 despite mega-deals, said a study.
While the number of VC deals in Europe dropped from 1,262 in Q4'19 to 923 in Q1'20, VC investment in the region rose from $7.9 billion to $8.8 billion, said a report by KPMG.
Europe's strength continued to be driven by the growing geographic diversity of investment. The top five deals in Q1'20 included companies from five countries, including UK-based Revolut ($500m), Germany-based Lilium ($240m), Israel-based AppsFlyer ($210m), Sweden-based Klarna ($200m), and France-based Colonies ($197m).
Despite its official departure from the EU at the end of January, the UK saw a surge in VC investment in Q1'20 - with $3.2 billion compared to $2.1 billion in Q4'19.
At the same time, Germany-based VC investment increased nominally to $1.37 billion, while France had its second strongest quarter of VC investment ever - with $1.36 billion in investment.
VC investment in Asia dropped significantly - to a twelve-quarter low of $16.5 billion - despite 3 deals at, or over $1 billion: a $3 billion raise by Indonesia-based Gojek, a $3 billion raise by China-based Kauishou, and a $1 billion raise by China-based Yuanfudao.
As the first country to deal with COVID-19, it was not surprising that both VC investment and deals volume in China plummeted in Q1&#...................... To view our full article Click here
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