Monthly European Venture Capital July 2018 by Dealroom

Aug 13, 2018 | Publisher: Techcelerate Ventures | Category: Business & Economics |  | Collection: Investments | Views: 5 | Likes: 1

Monthly European Venture Capital report 6 August 2018 July 2018 100 200 300 400 500 Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul 2017 2018 >2M 0-2M 1.2B 1.4B 2.3B 2.0B 1.4B 1.1B 1.9B 1.4B 1.7B 1.3B 2.1B 2.0B 1.5B 1.8B 2.7B 2.8B 2.4B 1.8B 1.8B 2.3B 1.7B 2.1B 1.9B 2.4B 2.7B 1.9B 0.5B 1.0B 1.5B 2.0B 2.5B 3.0B 3.5B Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul 2017 2018 Europe excl. Israel Biotech Israel July investment of 1.9 billion (including Israel and biotech) was just above of July 2017 level Source: Dealroom.co. Includes Israel. Excludes buyouts, secondary transactions, debt, ICOs, lending capital, grants. 1. Rounds below $2M are often reported with a delay of several months. Therefore, only rounds above $2M are shown here for better like-for-like comparison. Investment in European & Israeli rounds VC rounds 2 Investment in European & Israeli rounds VC rounds July investment of 1.5 billion excl. Israel and biotech was also just above of 2017 Decline in number of rounds is mostly temporary, as rounds below 2 million are announced with delays. Number of rounds above 2 million is stable 970 1,662 988 200 400 600 800 1,000 1,200 1,400 1,600 1,800 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2017 2018 13B 24B 15B 5B 10B 15B 20B 25B 30B Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2017 2018 By amount invested, 2018 is well ahead of 2017 so far (which was a record year itself) Source: Dealroom.co. Includes Israel. Excludes buyouts, secondary transactions, debt, ICOs, lending capital, grants. 1. Rounds below $2M are often reported with a delay of several months. Therefore, only rounds above $2M are shown here for better like-for-like comparison. 3 Cumulative amount invested 2018 vs. 2017 (B) Cumulative number of rounds 2018 vs. 2017 (>2M) The 10 largest rounds in July accounted for 0.8B or 47% of total investment Source: Dealroom.co. Excludes buyouts, secondary transactions, debt, ICOs, lending capital, grants. Show online data 4 NAME INVESTORS INDUSTRY LOCATION ROUND Greensill Financial services firm specializing in Supply Chain Finance General Atlantic Fintech UK $ 250 m Growth Equity Glovo On-demand mobile application connects customers with independent local couriers Seaya Ventures, Idinvest Partners, Rakuten, Cathay Innovation, AmRest, GR Capital Food / Transportation Spain 115 m SERIES C Improbable A cloud-based platform for game developers to create AI-powered simulated worlds NetEase Enterprise Software UK $ 100 m LATE VC Next Insurance Online insurance for entrepreneurs and SMEs Redpoint Ventures, Ribbit Capital, American Express Ventures, Nationwide Insurance, Fintech Israel $ 83 m Series B Secret Escapes Exclusive, members-only discounted offers for hotels and luxury holidays Old Mutual Global Investors Travel UK 52 m Growth Equity UrbanVolt Energy-saving LED lighting firm Low Carbon Innovation Fund Energy Ireland $ 65 m Growth Equity Mantis Vision 3D capturing technologies Samsung Catalyst Fund Media Israel $ 55 m Late VC Dynacure A biotechnology company developing new treatments for patients affected by serious orphan disorders Bpifrance, Idinvest Partners, Pontifax Funds, Kurma Partners, Andera Partners Health France 47 m Series A PPRO Cross-border payments specialist for merchants HPE Growth Capital, PayPal, Citi Ventures Fintech UK $ 50 m Growth Equity Meero AI for image processing Alven, Idinvest Partners Media France $ 45 m Series B Top rounds Greensill (Fintech) Founded in 2011, Greensill provides businesses with alternative sources of funding, allowing them to provide suppliers with the opportunity for faster payment, while at the same time preserving their own capital position It has facilitated payments to 1.5 million suppliers and provided over $40 billion of financing General Atlantic's $250 million investment values Greensill at $1.64 billion Glovo (Food / Transportation) Glovo is one of the most popular delivery apps in the Spanish-speaking world. It allows its customers to order anything they want and receive it in less than one hour IdInvest Partners and AmRest lead this round Improbable (Enterprise Software) Improbable's cloud-based platform SpatialOS helps developers to offload computations in order to bypass some of the limitations of PC, console and mobile platforms With this round, Improbable confirmed its unicorn status and is now valued at about $2 billion Secret Escapes (Travel) Secret Escapes will use the cash to boost the ongoing integration of the Slevomat Group a travel deals and experiences company it acquired late last year Secret Escapes has expanded into 21 territories across Europe, Asia and the US since launching seven years ago July saw over 5.2 billion in acquisitions of which 3.2 billion venture backed exits Source: Dealroom.co NAME ACQUIROR SELLER VC BACKED INDUSTRY LOCATION ROUND Suse Enterprise Linux, Openstack cloud, software-defined storage EQT Private Equity Micro Focus Enterprise Software Germany $ 2.5b ACQUISITION Leumi Card Israeli credit card issuer Warburg Pincus Azrieli Group Bank Leumi Fintech Israel $ 684 m BUYOUT TiGenix Local treatments for damaged and osteoarthritic joints Takeda Healthcare Belgium 520 m ACQUISITION Basefarm Specialises in operational and IT-related services on the net Orange Enterprise Software Norway 350 m ACQUISITION Finanzcheck.de Consumer loans marketplace Scout24 Holding Highland Europe, Acton Capital Partners, HarbourVest Partners Fintech Germany 285 m ACQUISITION PeopleDoc Provides HR service delivery solutions Ultimate Software Accel Partners, Alven, Kernel Capital, Eurazo Jobs Recruitment France $ 300 m ACQUISITION Banking Circle Enabling global payments and settlements EQT Private Equity Saxo Bank Fintech Denmark $ 300 m ACQUISITION MetaPack Delivery management solutions that enable online retailers to increase user engagement and sales conversions Stamps.com Index Ventures, Brainspark, WPP Ventures Transportation UK 197 m ACQUISITION TenBis #1 online platform in the Israeli restaurant and food ordering market Takeaway.com TA Associates Food Israel 135 m ACQUISITION TxCell Develops cell-based immuno-therapies for the treatment of severe chronic inflammatory diseases Sangamo Therapeutics Seventure Partners, Ardian, Auriga Partners, Bioam Gestion, Innovation Capital Healthcare France 72 m ACQUISITION 5 By VC backed exits, 2018 is far ahead of 2017 driven by a handful of mega-exits Source: Dealroom.co 6 16B 24B 54B 10B 20B 30B 40B 50B 60B Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2017 2018 221 382 170 50 100 150 200 250 300 350 400 450 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2017 2018 Cumulative value of VC-backed exits 2018 vs. 2017 Cumulative number of VC backed exits 2018 vs. 2017 The UK, Germany, France and Israel (the big four) continue to receive 70% of total investment Source: Dealroom.co. Excludes buyouts, secondary transactions, debt, ICOs, lending capital, grants. 7 11% YoY growth 87% 17% 10% (35%) (10%) (11%) (17%) 10% 43% Number of rounds (>$2M size) Jan-July '18 Investment by country (B) Jan-July '18 238 194 126 89 49 42 42 31 23 20 19 15 13 13 10 6 5 3 3 2 United Kingdom France Israel Germany Sweden Netherlands Switzerland Spain Belgium Finland Italy Russia Ireland Denmark Norway Austria Portugal Estonia Greece Romania 3.8B 2.5B 2.2B 1.9B 0.6B 0.5B 0.5B 0.4B 0.4B 0.3B 0.3B 0.3B 0.2B 0.2B 0.2B 0.2B 0.1B 0.1B 0.1B 0.1B United Kingdom Germany France Israel Spain Switzerland Sweden Netherlands Portugal Finland Belgium Ireland Italy Estonia Denmark Russia Romania Cyprus Austria Norway The big four (UK, Germany, France, and Israel) continue to be highly active in 2018 to date Source: Dealroom.co. Excludes buyouts, secondary transactions, debt, ICOs, lending capital, grants. 8 0.7B 0.4B 0.3B 0.2B 0.2B 0.2B 0.2B 0.1B 0.1B 0.1B 0.1B 0.1B 0.0B 0.0B 0.0B ( 0.0B) ( 0.0B) ( 0.1B) ( 0.1B) ( 0.2B) ( 0.5B) 0.5B 1.0B France Portugal Germany Israel Switzerland Finland Estonia Cyprus Italy Romania Belgium Denmark Ireland Norway Russia United Kingdom Spain Austria Netherlands Sweden % change vs. last year (number of rounds) Absolute change vs. last year (in B) 150% 138% 100% 50% 50% 45% 25% 24% 20% 11% 9% 1% (4%) (17%) (24%) (24%) (28%) (39%) (42%) (100%) (50%) 50% 100% 150% 200% Portugal Italy Austria Estonia Greece Switzerland Finland Netherlands France Norway Israel United Kingdom Romania Belgium Germany Ireland Denmark Spain Sweden Russia Source: Dealroom.co. Excludes buyouts, secondary transactions, debt, ICOs, lending capital, grants. 1. Rounds below $2M are included here. 9 The big four: the United Kingdom continues its lead after a very active July 2018 cumulative number of rounds (1) 2018 cumulative amount invested by country 436 163 331 143 50 100 150 200 250 300 350 400 450 500 Jan Feb Mar Apr May Jun Jul United Kingdom Germany France Israel 1.9B 2.2B 2.5B 3.8B 0.5B 1.0B 1.5B 2.0B 2.5B 3.0B 3.5B 4.0B Jan Feb Mar Apr May Jun Jul United Kingdom Germany France Israel Health, fintech and enterprise software continue to be the most invested industries Source: Dealroom.co. Excludes buyouts, secondary transactions, debt, ICOs, lending capital, grants. 10 By industry vertical By business model By keyword Number of rounds Amount invested (B) 3.2B 3.0B 2.6B 1.8B 1.3B 0.9B 0.9B 0.7B 0.6B 0.5B 0.5B 0.4B 0.3B 0.3B 0.3B 0.3B 5.6B 3.1B 2.2B 1.5B 1.2B 3.5B 2.0B 0.5B 0.4B 0.1B 1.0B 2.0B 3.0B 4.0B 5.0B 6.0B Fintech Health Enterprise software Transportation Biotech Security Travel Energy Food Home Robotics Gaming Insurance Semiconductors Fashion Telecom SaaS Manufacturing Marketplace Mobile app eCommerce Deep Tech Artificial intelligence InternetOfThings Blockchain Virtual reality 384 292 290 145 130 106 106 97 71 71 57 51 45 39 37 25 711 407 234 136 101 432 257 92 53 26 100 200 300 400 500 600 700 800 Enterprise software Fintech Health Transportation Energy Security Food Biotech Travel Home Fashion Robotics Semiconductors Insurance Gaming Telecom SaaS Manufacturing Marketplace eCommerce Mobile app Deep Tech Artificial intelligence InternetOfThings Blockchain Virtual reality Increased focus on deep tech related areas (robotics, AI, semiconductors) is noticeable in investment data Source: Dealroom.co. Only includes rounds above 2M. Excludes buyouts, secondary transactions, debt, ICOs, lending capital, grants. 11 By industry vertical By business model By keyword 1.1B 1.0B 0.7B 0.5B 0.4B 0.4B 0.2B 0.1B 0.1B 0.1B ( 0.1B) ( 0.2B) ( 0.3B) ( 0.3B) ( 0.6B) ( 0.7B) 1.3B 0.7B 0.3B ( 0.9B) ( 1.0B) 0.7B 0.2B 0.2B ( 0.1B) ( 0.4B) ( 1.5B) ( 1.0B) ( 0.5B) 0.5B 1.0B 1.5B Transportation Health Fintech Travel Biotech Robotics Energy Security Telecom Semiconductors Insurance Home Gaming Fashion Food Enterprise software Manufacturing Mobile app SaaS eCommerce Marketplace Deep Tech Artificial intelligence Blockchain InternetOfThings Virtual reality 100% 56% 33% 30% 17% 16% 6% 5% (5%) (7%) (10%) (14%) (20%) (24%) (25%) 38% 34% (0%) (24%) (29%) 51% 27% 17% (4%) (33%) (50%) 50% 100% 150% Robotics Semiconductors Security Food Biotech Transportation Health Energy Insurance Fashion Enterprise software Travel Fintech Telecom Gaming Home Mobile app Manufacturing SaaS eCommerce Marketplace Artificial intelligence Blockchain Deep Tech InternetOfThings Virtual reality % change vs. last year (number of rounds) Absolute change vs. last year (in B) Heatmap of 2018 venture capital investment by country and industry 12 Source: Dealroom.co. Number of rounds in 2018 to date by country Europe total United Kingdom Germany France Israel Sweden Netherlands Spain Russia Switzerland Ireland Number of rounds % YoY growth Investment (B) % YoY growth Industry vertical Fintech 101 20 32 20 25 9 16 6 12 7 155 8% 2.6B 27% Health 69 16 49 23 32 30 10 2 23 5 188 29% 2.7B 57% Enterprise software 95 38 70 31 15 25 24 7 9 7 212 15% 2.4B (15%) Energy 28 9 29 6 17 24 3 8 4 66 25% 0.6B 27% Transportation 25 20 28 10 11 15 9 10 9 70 32% 1.7B 169% Security 24 4 9 43 8 3 5 1 5 1 76 65% 0.8B 32% Food 17 6 24 6 8 3 5 3 5 2 50 61% 0.4B (63%) Biotech 24 4 19 9 12 9 3 12 82 28% 1.3B 44% Travel 21 9 10 1 3 8 12 2 37 6% 0.8B 111% Home 15 6 13 6 8 8 5 2 3 41 (16%) 0.4B (39%) Insurance 19 7 5 3 3 3 22 22% 0.2B (51%) Telecom 7 1 6 5 4 1 1 1 17 0.3B 54% Fashion 6 7 6 1 11 4 7 4 2 1 23 21% 0.2B (55%) Semiconductors 8 6 8 6 3 3 2 5 2 28 75% 0.3B 31% Robotics 9 2 12 7 1 6 1 4 7 36 177% 0.5B 447% Gaming 7 4 3 2 11 1 1 2 20 (5%) 0.3B (49%) Business model SaaS 163 74 130 69 51 46 37 19 18 10 406 24% 4.9B 6% Manufacturing 84 21 73 41 28 66 11 4 35 7 232 60% 2.8B 69% Marketplace 58 32 43 5 18 11 22 9 6 110 (13%) 2.0B (36%) eCommerce 22 19 23 7 17 8 8 6 4 2 73 (4%) 0.9B (51%) Mobile app 23 2 15 7 7 5 8 7 7 1 54 54% 1.3B 96% Keywords Deep Tech 114 29 61 59 25 37 17 11 24 4 256 46% 3.2B 34% Artificial intelligence 78 15 31 39 18 19 11 7 6 1 165 101% 1.8B 27% InternetOfThings 13 13 20 20 5 3 2 1 6 50 19% 0.5B (3%) Blockchain 15 3 1 4 4 5 5 8 2 19 36% 0.4B 184% Virtual reality 9 2 2 4 5 4 8 (20%) 0.0B (92%) Total 440 163 334 145 200 152 96 54 83 28 988 22% 13.1B 18% Investment activity by selected leading investors Source: Dealroom.co. 13 Number of rounds in 2018 YTD by country Number of rounds in 2018 YTD by industry vertical United Kingdom Germany France Israel Sweden Netherlands SaaS Deep Tech Manufacturing Marketplace Enterprise software Transportation Fintech Artificial intelligence Energy Health Travel Index Ventures 3 1 3 2 1 2 1 4 1 1 HV Holtzbrinck Ventures 1 6 1 4 2 5 2 1 1 3 2 Balderton Capital 3 2 3 1 4 1 1 4 4 1 2 Northzone 3 4 4 4 2 3 Lakestar 1 3 1 1 1 2 Sequoia Capital 2 1 4 1 5 3 1 1 1 3 2 Accel Partners 1 1 1 1 1 5 3 4 2 3 Insight Venture Partners 1 1 1 1 5 2 3 2 2 1 Bpifrance 35 13 8 10 4 7 4 6 3 6 2 Rocket Internet SE 1 1 Intel Capital 1 2 2 1 2 4 5 2 1 2 83North Atomico 3 1 2 1 2 1 2 1 2 LocalGlobe 12 1 6 4 2 5 3 1 4 2 2 IDInvest Partners 10 7 3 4 4 2 1 Point Nine Capital 1 1 1 1 1 1 1 EQT Ventures 1 1 1 3 2 3 2 Global Founders Capital 5 2 1 2 2 1 3 1 1 1 2 1 1 Partech 3 9 1 4 1 3 1 5 3 2 1 1 Greylock Partners 1 1 1 1 Creandum 1 1 1 1 3 2 1 Benchmark 360 Capital Partners 1 3 1 2 1 1 1 2 1 DN Capital 1 2 1 2 1 1 Mangrove Capital Partners 1 3 2 3 2 Acton Capital Partners 3 1 2 1 Octopus Investments 1 1 1 1 Intel Capital 1 2 2 1 2 4 5 2 1 2 Softbank 1 1 1 3 1 1 2 1 Naspers Tengelmann Ventures 1 2 3 1 1 1 Nokia Growth Partners Tencent 1 1 1 1 Qualcomm Ventures 1 1 1 1 Axel Springer 2 1 2 2 Salesforce Ventures 1 1 1 1 1 1 Microsoft ProSiebenSat1 Media SE GV 3 1 3 2 1 2 2 3 Iris Capital 1 3 2 1 2 1 Barclays BNP Paribas 6 4 1 1 1 2 1 Orange 1 Rakuten 2 1 2 1 2 1 3 1 Intelligent global database to identify & track growth opportunities and innovative companies

July ended so it's time for another monthly investment update for Europe & Israel. While not the most active month of the year, July was still ahead of the same month last year and so 2018 continues to extend it's lead over 2017. Meanwhile, the UK extended its lead over other countries. Major investment rounds included Greensill, Glovo, Improbable, Secret Escapes and others. 

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