- Europe’s venture capital industry pulled in about $9 billion in the first half of the year, setting a pace to reach a record annual fundraising total in spite of travel restrictions and lockdowns across Europe.
- PitchBook analyst Nalin Patel said there are three main reasons for the industry’s resilience: the rise of specialist funds, serial tech entrepreneurs as investors, and increased appetite for European outposts from US VCs.
- The new funds showcase the health of Europe’s venture capital ecosystem, despite being much smaller than the US industry.
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European tech investors have dry powder to deploy.
The coronavirus pandemic does not appear to have siphoned funds away from Europe’s venture capital industry, which raised €7.6 billion, or about $9 billion, in the first half of the year, according to data from PitchBook.
The year could register a record annual total in European venture capital