Venture capital investment flows in Europe by #DealRoom

Venture capital investment into Europe has been increasing from all sides

About Techcelerate Ventures

Tech Investment and Growth Advisory for Series A in the UK, operating in £150k to £5m investment market, working with #SaaS #FinTech #HealthTech #MarketPlaces and #PropTech companies.

Europe invests Source Dealroom United Kingdom Germany investor USA rounds

Venture capital investment into Europe has been increasing from all sides

About Techcelerate Ventures

Tech Investment and Growth Advisory for Series A in the UK, operating in £150k to £5m investment market, working with #SaaS #FinTech #HealthTech #MarketPlaces and #PropTech companies.

Europe invests Source Dealroom United Kingdom Germany investor USA rounds

<p>Venture capital 
investment flows 
in Europe
May 2018
$ 3.8B  
$ 6.3B  
$ 9.7B  
$ 11.3B  
$ 12.0B  
$ 2.8B  
$ 4.1B  
$ 6.1B  $ 5.7B  
$ 7.9B  
$ 0.2B  
$ 1.1B  $ 1.3B  
$ 1.9B  
$ 4.5B  
$ 0.2B  $ 0.4B  $ 0.2B  
$ 0.7B  $ 1.0B  

 500
 1,000
 1,500
 2,000
 2,500
 3,000

 $ 3.0B
 $ 6.0B
 $ 9.0B
 $ 12.0B
 $ 15.0B
2013 2014 2015 2016 2017
2013 2014 2015 2016 2017
2013 2014 2015 2016 2017
2013 2014 2015 2016 2017
Europe
USA
Asia
Rest of World
Investment
Number of rounds
Venture capital investment into Europe has been 
increasing from all sides
Europe
USA
Asia
Rest of World
2
Source: Dealroom.co. 
58% 
38% 
2% 
2% 
55% 
32% 
10% 
4% 
60% 
33% 
6% 
1% 
63% 
24% 
9% 
4% 
56% 
26% 
13% 
5% 

 20%
 40%
 60%
 80%
 100%
Europe
USA and Canada
Asia
Rest of World
2013
2014
2015
2016
2017
Only Asia has increased its share of investment, both 
by amount of capital and by number of rounds
3
Source: Dealroom.co. 
Market share by number of European investment rounds 
(by location of investor)
Market share by $ invested capital into Europe
(by location of investor)
Asian investment 
grew from 2% to 
13% in 5 years
82% 
15% 
1% 
2% 
80% 
16% 
2% 
1% 
80% 
16% 
3% 
1% 
82% 
14% 
3% 
1% 
80% 
14% 
4% 
2% 

 20%
 40%
 60%
 80%
 100%
Europe
USA and Canada
Asia
Rest of World
2013
2014
2015
2016
2017
Asian investors focus on $20M+ rounds. Already 18% 
of such rounds have an Asian investor
4
Source: Dealroom.co. 
% of European investment rounds with an Asian investor
USA investment into Europe: no big change in approach
13% 
8% 
12% 
17% 
26% 
40% 
52% 
4% 
2% 
4% 
6% 
9% 
18% 
19% 

 10%
 20%
 30%
 40%
 50%
 60%
Total
$ 0-2M
$ 2-5M
$ 5-10M
$ 10-20M
$ 20-50M
$ 50M+
USA
Asia
As could be expected, larger rounds have a higher 
participation rate from USA and Asian investors (2017)
1% 
1% 
2% 
2% 
3% 
2% 
7% 
8% 
10% 
13% 

 3%
 6%
 9%
 12%
 15%
2013
2014
2015
2016
2017
$ 0-10M
$ 10M+
7% 
9% 
10% 
9% 
10% 
37% 
42% 
36% 
34% 
34% 

 10%
 20%
 30%
 40%
 50%
2013
2014
2015
2016
2017
$ 0-10M
$ 10M+
52% 
20% 
14% 
12% 
9% 
8% 
8% 

 10%
 20%
 30%
 40%
 50%
 60%
Israel
United Kingdom
Germany
Spain
France
Netherlands
Sweden
USA & Asian investors are mainly interested in the UK and 
Germany (but they're even much more interested in Israel)
Source: Dealroom.co
28% 
7% 
4% 
3% 
2% 
2% 
1% 

 5%
 10%
 15%
 20%
 25%
 30%
Israel
United Kingdom
Germany
Spain
France
Netherlands
Sweden
% of rounds with contribution from Asia
% of rounds with a USA investor
7% of UK investment 
rounds have an Asian 
investor
20% of UK investment 
rounds have a USA 
investor
5
Together, the UK and USA are responsible for nearly half of 
all venture capital invested in Europe
Capital invested in Europe by investor HQ location (2017)
Source: Dealroom.co
26% 
22% 
13% 
10% 
9% 
5% 
4% 
4% 
3% 
2% 
2% 
USA
United Kingdom
Asia
France
Germany
Rest of World
Sweden
Rest of Europe
Netherlands
Switzerland
Spain
817  
591  
468  
454  
433  
241  
224  
155  
148  
141  
99  
United Kingdom
France
USA
Rest of Europe
Germany
Sweden
Rest of World
Netherlands
Spain
Asia
Switzerland
Number of European rounds by investor HQ location (2017)
6
UK
22%
Asia 
13%
USA
26%
EU
34%
RoW
5%
European investors make roughly 30% of their 
European investments internationally (non-domestic)
7
Source: Dealroom.co. 
246  
435  
525  
567  
588  
155  
193  
261  
308  
293  
36  
62  
81  
118  
105  
100  
137  
192  
441  
505  
20  
36  
72  
157  
182  
75  
98  
100  
122  
121  
114  
149  
206  
207  
229  
39  
61  
99  
146  
140  
13  
17  
40  
48  
50  
41  
60  
70  
65  
86  
14  
23  
32  
47  
59  
37  
38  
34  
29  
27  
360  
584  
731  
774  
817  
194  
254  
360  
454  
433  
49  
79  
121  
166  155  
141  
197  
262  
506  
591  
34  
59  
104  
204  
241  
112  
136  134  
151  148  

 5%
 10%
 15%
 20%
 25%
 30%
 35%
 40%
 45%
 50%

 100
 200
 300
 400
 500
 600
 700
 800
 900
 1,000
2013 2014 2015 2016 2017
2013 2014 2015 2016 2017
2013 2014 2015 2016 2017
2013 2014 2015 2016 2017
2013 2014 2015 2016 2017
2013 2014 2015 2016 2017
United Kingdom
.
Germany
Netherlands
France
Sweden
Spain
Domestic investments
International investments (in Europe)
% invested internationally
France, Sweden and Spain have 
become (relatively!) more 
domestically focused
Germany and Netherlands have 
become more international
Number of investment rounds, by investor location
The United Kingdom is Europe's the most important source 
of non-domestic capital
Number of non-domestic rounds, by investor location
Source: Dealroom.co
The UK invests more capital 
outside its own country than 
any other European country
229  
140  
86  
69  
59  
50  
27  
United Kingdom
Germany
France
Switzerland
Sweden
Netherlands
Spain
8
Source: Dealroom.co.
Note: Index Ventures counted as UK fund, instead of Swiss. 
9
However, the balance may shift, as French VC firms raised 
more capital than UK-based VC firms in 2017 for the first time
$ capital raised by European VC funds
$ 2.3B  
$ 0.4B  
$ 0.2B  
$ 4.0B  
$ 1.6B  
$ 1.0B  
$ 4.0B  
$ 2.0B  
$ 1.9B  
$ 3.0B  
$ 3.2B  
$ 1.3B  

 $ 1.0B
 $ 2.0B
 $ 3.0B
 $ 4.0B
 $ 5.0B
United Kingdom
France
Germany
2014
2015
2016
2017
Investment flows into and within Europe
Source: Dealroom.co
10
Origin of funds (investor location)
From Europe
From Worldwide
2017
United 
Kingdom Germany
France
Sweden
Netherlan
ds
Switzerlan
d
Spain
Rest of 
Europe
Europe
 USA and 
Canada  
 Asia  
Rest of 
World
Total 
Worldwide
Investment into 
(company location)
United Kingdom
828
588
50
26
9
5
12
9
26
657
157
54
14
828
Germany
417
51
293
24
14
11
35
5
6
345
59
18
5
417
France
705
36
23
505
3
5
5
5
8
531
64
12
9
705
Sweden
359
23
7

182
3
2
1
16
213
28
4
2
359
Netherlands
215
16
13
3
1
105
1
1
3
130
18
4
1
215
Switzerland
85
3
6
3
1
2
30
3
2
45
13
7
1
85
Spain
217
37
8
11
3
6

121
9
164
27
6
8
217
Other European destinations
855
63
33
19
28
18
14
3
384
565
102
36
184
855
Total europe
3,681
817
433
591
241
155
99
148
454
2,650
468
141
224
3,681
Origin of funds (investor location)
From Europe
From Worldwide
By $ invested
2017
United 
Kingdom Germany
France
Sweden
Netherlan
ds
Switzerlan
d
Spain
Rest of 
Europe
Europe
 USA and 
Canada  
 Asia  
Rest of 
World
Total 
Worldwide
$ 4.2B
$ 1.7B
$ 2.0B
$ 0.7B
$ 0.6B
$ 0.5B
$ 0.4B
$ 0.7B
$ 10.9B
$ 5.1B
$ 2.5B
$ 1.0B
$ 19.4B
Investment into 
(company location)
United Kingdom
$ 7.4B
36%
4%
3%
1%
0%
2%
1%
0%
48%
30%
20%
2%
100%
Germany
$ 3.1B
13%
23%
6%
2%
2%
5%
1%
0%
51%
24%
11%
14%
100%
France
$ 2.6B
13%
6%
51%
0%
4%
2%
0%
0%
77%
19%
4%
1%
100%
Sweden
$ 1.3B
12%
9%

40%
2%
0%
0%
5%
68%
27%
3%
2%
100%
Netherlands
$ 0.6B
11%
10%
5%
0%
48%
0%
4%

78%
20%
2%
0%
100%
Switzerland
$ 0.3B
7%
7%
9%
3%
2%
20%
1%

48%
38%
13%

100%
Spain
$ 0.9B
15%
4%
4%
6%
3%

21%
0%
53%
26%
8%
13%
100%
Other European destinations
$ 3.1B
12%
7%
4%
4%
4%
2%
0%
27%
60%
26%
9%
5%
100%
Total europe
$ 19.4B
22%
9%
10%
4%
3%
2%
2%
4%
56%
26%
13%
5%
100%
</p>