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Laxman Pai, Opalesque Asia: VC investment in Europe slid to $27.5 billion in Q3'21, following a record-breaking Q2'21 - which saw over $36 billion in funding, said a study.
According to the Venture Pulse Report by KPMG, the decline likely reflects a summer lull in deal activity - one more dominant in 2021 as many dealmakers took vacations for the first time since the beginning of the pandemic.
Despite the drop in total funding, Q3'21 was the second strongest quarter ever in Europe, it added.
Exit activity was also incredibly robust, with a record $81.2 billion in exit value - more than double the previous high of $33.8 billion seen in Q1'21.
Fintech continued to be a very hot area of investment across much of Europe in Q3'21, accounting for several of Europe's largest raises of the quarter, including an $800 million raise by UK-based Revolut, a $553 million raise by Switzerland-based Quantus Holdings Strategies, a $413 million raise by UK-based MarketFinance, a $300 million raise by UK-based Rapyd, a $225 million rise by Switzerland-based TradePlus24, and a $224 million raise by Germany-based Solarisbank.
Jurisdictions across Europe continued to attract significant investment; in Q3'21, the five largest deals occurred in five different jurisdictions - with Germany-based Gorillas raising $950 million, followed by UK-based Revolut ($800 million), Estonia-based Bolt ($709 million), Netherlands based Picnic ($707 million), and France...................... To view our full article Click here
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