TLDR:
– In PitchBook’s Q1 2024 European Venture report, early-stage dominance was evident with robust deal activity and some resilience in fundraising.
– Total deal value in Q1 2024 increased by 19.1% year-over-year, reaching €16.3 billion with a decrease in deal count.
While the first quarter of 2024 showed a mixed tone, with robust deal activity indicating a potential increase in deal value compared to 2023, exits demonstrated weakness, and fundraising displayed some resilience, reveals the new “Q1 2024 European Venture Report” published by PitchBook. Although it’s too early in the year to determine if these trends will persist, there is cautious optimism regarding deal activity and fundraising, while exit markets are expected to remain restrained. According to the report, in Q1 2024 the total deal value increased 19.1 per cent year-over-year, reaching a total value of €16.3 billion. On the other side, the deal count decreased in Q1, compared both to the previous quarter and year which might indicate a shift towards quality within the market, thus having less transactions but with valuations that are more resilient. Venture capital deal activity in Q1 was dominated by early-stage deals, with the UK retaining a significant portion of the deal count in Europe but with a decrease in share of deal value. The report also highlighted the weaker start of deal activity for female-founded companies compared to the previous year.
