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Europe | 1Q | 2016
The following report presents Dow Jones VentureSources 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 1Q 2016 include:
European venture capital fundraising amount improved significantly from prior quarter and reached a new high;
The number of mergers and acquisitions (M&As) experienced an increase from the last quarter, while the total M&A raised amount decreased
significantly;
The number of initial public offerings (IPOs) and total amount raised dropped dramatically form 4Q 2015.
European VC Fundraising
Based on multiple closings (20132016)
45
3.00
40
2.50
35
30
2.00
25
1.50
20
15
1.00
10
0.50
5
0
1Q'13
2Q'13
3Q'13
4Q'13
1Q'14
2Q'14
3Q'14
4Q'14
1Q'15
Amount Raised (B) 0.76 1.03 0.65 1.89 0.65 1.26 0.81 1.26 1.06
Number of Funds
15
17
12
41
23
24
20
27
22
2Q'15
3Q'15
4Q'15
0.00
1Q'16
13
21
25
Fund Name
Amount (M)
Location
Offering
Status
Fund Type
Fund Category
Closing Type
Index Ventures
511.53
Geneva, Switzerland
Closed
Early-stage venture
capital
Venture Capital
Final
Rocket Internet AG
390.63
Berlin,
Germany
Open
Late-stage venture
capital
Venture Capital
First
Endeavour Vision SA
250.00
Closed
Multi-stage venture
capital
Venture Capital
Medicxi Ventures
Medicxi Ventures I
210.00
London,
United Kingdom
Closed
Early-stage venture
capital
Venture Capital
Creandum
Creandum IV
180.00
Stockholm,
Sweden
Closed
Early-stage venture
capital
Venture Capital
Geneva, Switzerland
Final
Final
Final
4.50
500
4.00
450
3.50
400
350
3.00
300
2.50
250
2.00
200
1.50
150
1.00
100
0.50
50
0.00
1Q'13
1Q'14
1Q'15
1Q'16
Amount Raised (B) 1.23 1.54 1.78 1.97 1.64 2.43 2.33 2.03 2.91 3.84 3.35 3.40 2.42
Number of Deals
394
435
413
499
413
452
366
416
419
416
396
467
411
1Q'13
2Q'13
3Q'13
4Q'13
1Q'14
2Q'14
3Q'14
4Q'14
1Q'15
2Q'15
3Q'15
4Q'15
Seed
42
41
60
76
40
32
28
39
28
38
33
32
1Q'16
34
First
205
217
212
223
220
227
183
201
212
183
191
250
193
Second
66
85
66
85
63
92
66
76
78
76
79
89
94
Later
54
65
51
81
60
77
62
59
79
99
76
69
79
Restart
2,000
1,500
1,000
500
1Q'13
2Q'13
3Q'13
4Q'13
1Q'14
2Q'14
3Q'14
4Q'14
1Q'15
2Q'15
3Q'15
4Q'15
1Q'16
Seed
21
18
24
33
19
22
15
29
31
24
36
25
25
First
401
433
535
489
514
625
469
446
614
554
821
773
649
Second
255
464
708
402
300
477
220
775
443
946
574
607
772
Later
541
600
462
989
680
1,122
901
734
1,752 2,179
1,873 1,534
962
Restart
2.50
2.00
1.50
1.00
0.50
0.00
Median Equity Deal Size (M)
1Q'13
2Q'13
3Q'13
4Q'13
1Q'14
2Q'14
3Q'14
4Q'14
1Q'15
2Q'15
3Q'15
4Q'15
1.50
1.54
1.03
1.40
1.50
2.00
1.74
2.10
2.00 2.68
2.31
2.03 2.56
1Q'16
1Q'16 Industry
Breakdown
By Number
of Deals
Consumer Goods
Consumer Services
Energy & Utilities
1%
4%
28%
15%
Healthcare
Industrial Goods & Materials
1%
24%
Information Technology
1Q16 Industry
Breakdown
By Amount
Raised
17%
29%
1%
Consumer Goods
Consumer Services
Energy & Utilities
1%
Healthcare
Industrial Goods & Materials
31%
1%
20%
Information Technology
Co. Name
Mission
Therapeutics
Ltd.
Location
Industry
Code
Industry
Segment
Cambridge,
Biotechnology
United
Biopharmaceuticals
Therapeutics
Kingdom
Industry
Group
Brief
Description
Close
Date
Healthcare
2/2/2016
Healthcare
Provider of biopharmaceutical
solutions.
Round
Type
Raised
(M)
Round Investors
(* denotes lead)
3rd
84.35
3/3/2016
Second
Round
56.23
Autolus Ltd.
London,
United
Kingdom
Student.com
(UK) Ltd.
London,
United
Kingdom
Hotels /
Gambling
Consumer Services
Provider of an accommodation
marketplace for students
studying abroad.
10/2/2016
First Round
55.80
Blippar.com
Ltd.
London,
United
Kingdom
Recreational /
Home Software
Software
Information
Technology
2/3/2016
Second
Round
50.22
Aprea AB
Solna,
Stockholm
Healthcare
9/3/2016
Later
46
Biotechnology
Biopharmaceuticals
Therapeutics
Biotechnology
Biopharmaceuticals
Therapeutics
10
16
15
14
12
12
10
Bayern Kapital
GmbH
Idinvest Partners
HV Holtzbrinck
Ventures Adviser
GmbH
Index Ventures
6
4
2
0
Bpifrance
Investment
High-Tech
German Startups
Gruenderfonds
Group Berlin GmbH
Management GmbH
& Co. KGaA
Jenson Funding
Partners LLP
11
The United Kingdom remained as the most favoured destination for equity
financing during 1Q 2016, receiving 974 million across 111 deals. The country
took 40% of all equity financing from 1Q 2016.
Germany ranked second. It reached a total 463 million through 75 deals,
representing a 19% share of European financing. A 33% decrease in capital
invested and 13% drop of the number of deals from last quarter.
France occupied third position raising 354 million, 15% of the total for the
quarter. Sweden placed fourth based on raising 99 million during 1Q 2016.
United Kingdom
27%
29%
France
Germany
5%
23%
21%
Netherlands
18%
Rest of Europe
Amount Raised
in 1Q 2016
by Country
(Top 4)
United Kingdom
22%
40%
4%
Germany
France
19%
Sweden
15%
19%
Rest of Europe
12
1Q'16
4Q'15
3Q'15
2Q'15
1Q'15
4Q'14
3Q'14
2Q'14
1Q'14
4Q'13
3Q'13
2Q'13
1Q'13
0
1Q'13
10
2Q'13
3Q'13
20
4Q'13
1Q'14
30
2Q'14
3Q'14
40
4Q'14
1Q'15
50
2Q'15
3Q'15
60
4Q'15
70
1Q'16
IPOs
21
16
10
12
15
14
M&As
37
40
43
44
56
42
50
49
53
44
49
39
50
13
Industry
Code
Industry Segment
Industry Group
Close
Date
Round
Type
Amount Paid
(M)
Acquirer
Provider of collaboration
Uxbridge,
infrastructure and conferencing
United Kingdom
software.
Communications
Software
Software
Information
Technology
29/1/2016
Acquisition
651.04
Cisco Systems
London,
Provider of predictive text entry
TouchType Ltd. United Kingdom
software.
Communications
Software
Software
Information
Technology
2/2/2016
Acquisition
232.51
Microsoft Corp.
Internet Service
Providers
Communications
and Networking
Information
Technology
14/1/2016
Acquisition
126.52
Company Name
Acano Ltd.
CityFibre
Infrastructure
Holdings Plc
Location
Brief
Description
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Both the number of deals and amount raised via IPO during
1Q 2016 dropped significantly from the prior quarter.
2,500.00
25
2,000.00
20
1,500.00
15
1,000.00
10
500.00
0.00
Raised (M) through IPO
Number of IPOs
1Q'13
2Q'13
19.22
89.24
3Q'13
4Q'13
1Q'14
2Q'14
3Q'14
4Q'14
1Q'15
2Q'15
3Q'15
4Q'15
1Q'16
25.51 366.10 691.24 529.53 447.47 2,249.97 417.40 533.10 699.69 608.00 110.05
3
21
16
10
12
15
14
15
Company Name
Location
Brief
Description
Industry
Code
Industry Segment
Industry Group
Close
Date
Raised through
IPO (M)
Exchange/
Symbol
Shield
Therapeutics Ltd.
United Kingdom
Biotechnology
Therapeutics
Biopharmaceuticals
Healthcare
12/2/2016
45.69
AIM: STX
Biotechnology
Research &
Information
Network AG
Germany
Pharmaceuticals
Biopharmaceuticals
Healthcare
9/2/2016
31.50
FWB: BNN
United Kingdom
Business Applications
Software
Software
Information
Technology
18/3/2016
15.59
LSE: PRSM
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partnership opportunities, perform comprehensive due diligence and examine trends in venture capital investment, fund-raising and liquidity. It provides
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development throughout the world.
The investment figures included in this release are based on aggregate findings of Dow Jones proprietary research and are contained in VentureSource.
This data was collected through survey of professional firms, interviews with company executives, and from secondary sources. These venture capital
statistics cover equity investments into early stage, innovative companies and do not include companies receiving funding solely from corporate,
individual, and/or government investors. Figures contained throughout the report current at time of editorial but are subject to change without notice.
No statement herein is to be construed as a recommendation to buy or sell securities or to provide investment advice.
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