Venture Capital Repor
]
The following report presents Dow Jones VentureSource’s quarterly findings for European venture capital fundraising, investment, valuation,
and liquidity. The included charts and graphs offer a comprehensive view of the trends currently affecting the venture capital market.
Highlights for 3Q 2015 include:
Highlights for 3Q 2015 include:
-
• European venture capital fundraising falls from prior quarter;
-
• Venture capital investment into European companies improves in consecutive quarters;
-
• The number of initial public offerings (IPOs) experienced a decrease from the prior quarter, while the number of mergers and acquisitions (M&As)
are on the rise.
]
FUNDRAISING
13 European venture capital funds accumulated
€853 million during 3Q 2015, dropping 58% in capital raised from 2Q 2015 with a 52% decrease in the number of fund closings.
• Compared with the year ago period, euros raised improved by 5%, despite a reduction in the number of
fund closing (from 20 to 13).
13 European venture capital funds accumulated
€853 million during 3Q 2015, dropping 58% in capital raised from 2Q 2015 with a 52% decrease in the number of fund closings.
• Compared with the year ago period, euros raised improved by 5%, despite a reduction in the number of
fund closing (from 20 to 13).
• The largest fund of the quarter was Lakestar II LP, which
raised €350 million, accounting for 41% of the total amount for 3Q 2015.
FINANCING
European companies raised over €3 billion for 355 deals during 3Q 2015, a minimal increase in the amount raised from 2Q 2015 despite a 5% slide in the number of deals completed.
European companies raised over €3 billion for 355 deals during 3Q 2015, a minimal increase in the amount raised from 2Q 2015 despite a 5% slide in the number of deals completed.
-
• In contrast with the year ago period, both investment and
number of completed deals improved, respectively
by 31% and 1%.
-
• Consumer Services (€935 million) was the strongest sector of
the quarter in terms of attracting investment followed by
Healthcare (€929 million).
FINANCING
Consumer Services received the largest allocation of investment during 3Q 2015 (31%), accumulating €935 million through 103 deals. Deal flow rose by 5% from the prior quarter, despite a 33% drop in capital invested.
Healthcare placed second in terms of equity financing raising €929 million across 62 deals, an improvement of 101% in capital raised and 13% in deals completed from the previous quarter.
Business and Financial services placed third, with companies in the sector gathering 25% of the total amount invested for the quarter. The sector received €746 million across 112 deals; a rise of 12% in capital invested and of 8% in deal flow from 2Q 2015.
Consumer Services received the largest allocation of investment during 3Q 2015 (31%), accumulating €935 million through 103 deals. Deal flow rose by 5% from the prior quarter, despite a 33% drop in capital invested.
Healthcare placed second in terms of equity financing raising €929 million across 62 deals, an improvement of 101% in capital raised and 13% in deals completed from the previous quarter.
Business and Financial services placed third, with companies in the sector gathering 25% of the total amount invested for the quarter. The sector received €746 million across 112 deals; a rise of 12% in capital invested and of 8% in deal flow from 2Q 2015.
FINANCING
The United Kingdom was the most favoured destination for equity financing during 3Q 2015, receiving €947 million across 87 deals. The country took 31% of all equity financing for the quarter, despite a 9% decrease in deal flow
from 2Q 2015.
France placed second, attracting a 19% share of European financing. Investment reached a total €567 million, a 29% rise in capital invested, despite a 22% drop in number of deals.
Germany occupies third position raising €428 million, 14% of the total for the quarter.
Switzerland placed fourth with a 6% share, raising €194 million during
Germany occupies third position raising €428 million, 14% of the total for the quarter.
Switzerland placed fourth with a 6% share, raising €194 million during
LIQUIDITY
43 venture-backed M&As took place in Europe during 3Q 2015, a 2% increase from 2Q 2015 but a 12% drop from 3Q 2014.
A total of €2.7 billion were raised through VC-backed M&As in 3Q 2015, a decrease of 27% from the previous quarter and a 9% drop compared to 3Q 2014.
8 venture-backed IPOs took place during 3Q 2015, a 47% decrease from the prior quarter and a 50% decrease in listings for VC-backed companies from the year ago period.
43 venture-backed M&As took place in Europe during 3Q 2015, a 2% increase from 2Q 2015 but a 12% drop from 3Q 2014.
A total of €2.7 billion were raised through VC-backed M&As in 3Q 2015, a decrease of 27% from the previous quarter and a 9% drop compared to 3Q 2014.
8 venture-backed IPOs took place during 3Q 2015, a 47% decrease from the prior quarter and a 50% decrease in listings for VC-backed companies from the year ago period.
LIQUIDITY
8 venture-backed IPOs took place during 3Q 2015, a decrease in number of deals both to the prior quarter and the previous year.
8 venture-backed IPOs took place during 3Q 2015, a decrease in number of deals both to the prior quarter and the previous year.
-
• IPOs raised almost €700 million during 3Q 2015, an
increase of 31% from the €533 million raised in 2Q 2015.
VC-backed companies also raised an higher amount
through IPOs when compared with the year ago period
(€447 million).
-
• The largest European VC-backed IPO of 3Q 2015
was the Flow Traders listing in July. The company raised €521 million for its offering on the Amsterdam Exchange Index.
