European VC deal value down 61% in first half of 2023, report finds
Jul20
Venture capital funding in Europe is plummeting as investors shift focus from growth to cutting costs. In the first half of 2023, European VC deal value was 61% lower than at the same time last year according to a new report by Pitchbook, a financial data firm. The total capital raised in the continent was €8.9 billion. At the current rate, the full year is on track to pace 37% below 2022 levels. Analysts blame the decline on surging interest rates, high inflation, fundraising hurdles, and a subdued IPO market. These economic headwinds have prompted new investment strategies. Instead of prioritising…
This story continues at The Next Web
Discussion ¬