PSA: EU Inc. - A petition calling for a standardized EU-wide legal entity for startups. Signed by Index, Seedcamp, Slush, Patrick Collison, PG et al. Add your name.
Venture capital in Q3 - results
Globally, startups raised $72B in venture capital in Q3 2024. This is the lowest quarterly total for VC raised by startups in over four years, since Q2 2020.
The first three quarters combined for global VC are just shy of 2023 levels, but the picture is very varied across geographies, sectors and stage.
GenAI, Oncology and Electric Mobility are surging sub-sectors. India's recovering. US totals are up driven by megarounds, but number of deals are down.
We've compiled the essential need to know data packs on the state of venture in Q3, across global tech ecosystems. Get em while they're hot:
This week Harry Stebbings's 20VC raises new $400M fund. A huge deal, and the latest in a blockbuster year for UK VCs raising new funds.
As per the FT: "20VC’s latest investment comes as a report by HSBC Innovation Banking and Dealroom projects that UK-based VCs are “on track” to raise more than $12bn in new funds by the end of this year, surpassing even 2021’s boom-time record of $11.5bn. Index Ventures, Atomico, Accel and Balderton Capital have all raised new funds this year. The figures, however, are still dwarfed by the sums raised by VCs in Silicon Valley."
20VC's fund is the 9th fund of $400M+ announced in the UK in 2024. How times have changed, in 2016 there were none.
There's a reason LPs would be interested in 20VC though. Data shows how 20VC is ahead of the curve, with 4 European unicorn investments at Seed (and 6 globally) in their short tenure as a fund. 💨🏃
☁️ Accel's Euroscape 2024: AI Eating Software. The state of cloud & AI in Europe & Israel, w/ Dealroom data.
☕ The State of European tech survey is out. Take 5-15 mins and have your say.
🎁 Founders (with <$10m raised): claim free Dealroom premium - increase investor visibility, publish your pitch deck and find the best talent with Dealroom for builders.
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