Chart of the week: Fundraising for venture capital and growth equity by European fund managers

 Capital raised and number of funds closed targeting venture/growth equity keeps falling  


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Data from PEI Research & Analytics reveals that, between 2013 and the end of Q1 2015, a total of $26 billion was raised from 118 venture and growth funds managed by GPs headquartered in Europe. This represents 16 percent of all the capital raised globally for funds that held a final close within this time period and 17 percent of the number of funds closed. The largest venture capital/growth equity fund headquartered in Europe to close was the EQT Infrastructure Fund II, which raised $2.6 billion in 2013.

$12.1 billion was raised from 53 venture and growth funds managed by GPs headquartered in Europe in 2014. This represents a decrease of three percent and nine percent in total capital raised and number of funds closed respectively from the previous year. It seems like the trend is going to continue into 2015 with only seven funds closed in the first quarter of 2015, raising a total of $1.5 billion.

An aggregate of $6.9 billion was raised in 2014 for Europe-focused funds, approximately 50 percent of the total amount raised by venture and growth vehicles, which means that a half of fund managers consider investments outside of Europe more interesting. Average fund size fell by almost $50 million from $200 to $153 million between 2013 and 2014. AXA Infrastructure Fund III led fundraising for Western Europe in 2013, raising $2.3 billion.