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…
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