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Laxman Pai, Opalesque Asia: Europe was the only region to see VC investment increase this quarter-from $15.1 billion in Q4'23 to $17.9 billion in Q1'24, although the number of deals dropped from 2,419 to 1,798 over the same period, revealed a study.
According to the Q1'24 edition of KPMG Private Enterprise's Venture Pulse, the $5.2 billion raise by Sweden-based H2 Green Steel was the major driver of this increase, far surpassing the size of other deals in the region.
U.K.-based neobank Monzo's $431 million raise was the second largest VC deal in Europe, followed by France-based generative AI company Mistral AI ($415 million), the Netherlands-based grocery e-commerce company Picnic ($389 million), and France-based EV maker Electra ($334 million).
At a jurisdictional level, the Nordics region and France saw VC investment increase-to $6.3 billion and $2 billion respectively; meanwhile, VC investment in the U.K. and Germany dropped-to $3 billion and $1.8 billion respectively.
While VC investment rose in Europe entirely on the back of H2 Green Steel's raise, it dropped in both the Americas and Asia this quarter. VC investment dropped from $43.4 billion to $38.2 billion in the Americas-including from $40.1 billion to $36.6 billion in the U.S.-and from $22.9 billion to $18.9 billion in Asia.
The U.S. accounted for the vast majority of this amount-$36.6 billion across 2,882 deals. VC investment outside of the U.S. was very quiet in Q1'24. In Canada, VC investment...................... To view our full article Click here
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