Blog Posts

European VC Landscape – March 2024

2024's first trimester ends with a 7% decline in invested VC volume and AI at the top of the most invested industries list. Read our in-depth analysis to learn all the details.

05.04.2024

Invested VC volume decreased by 7% in March compared to the previous month

Number and amounts of announced funding rounds over the past 6 months*

(1) All data from CrunchBase, as of April 3, 2024

The AI trend is reflected in the 1st place for AI startups, totaling 42 investments. Followed by BioTech startups (19).

  • During March, 346 financing rounds were announced.
  • The total amount invested in the announced financing rounds was $2.8bn, a 7% decrease since last month.
  • Most investments were made in AI businesses, amounting to 42 investments. Investments in Biotechnology (19) take second place in front of IT companies (11).
Top 10 industries of financed startups according to the number of conducted investments

Tenity was the most active VC investor

Investors with the highest number of investments in March
Number and total volume of financing rounds per stage

The largest round of March was a Venture round of $430.0mn

In March, most investment rounds were Seed Rounds (~41%). Despite that, the largest volume of $920mn was invested in only 71 Venture Rounds.

London is the European VC industry hotspot, while Paris takes the 2nd spot

  • The most investments in March were conducted in the UK (100), followed by Germany (41) and France (33).
  • When ranking by investment volume instead of the number of conducted investments, London, Paris, and Berlin maintain their positions as first to third, respectively. However, Munich ($154mn) would take 4th place.

In the spotlight

Largest Round: Monzo raised $430mn in a late-stage round

Company
Industry

FinTech

Founded in

2015, London

One-Sentence-Pitch

Monzo is a digital-only bank platform and marketplace that allows customers to access a range of products and services.

Financing round
Money raised

$5bn

Type of financing round

Late-stage round

Comment/Quote
“British digital bank has raised 340 million pounds ($431.26 million) at a 4 billion pound ($5.07 billion) valuation (…). The round was led by CapitalG, a fund owned by Google-owner Alphabet (GOOGL.O), and included investment from GV (Google Ventures) and Chinese venture capital firm HongShan Capital.” – Reuters
Investors

Largest Seed-Round: Relation Therapeutics raised $35mn

Company
Industry

BioTech

Founded in

2019, London

One-Sentence-Pitch

Relation Therapeutics is a biotechnology company that focuses on humanizing drug discovery and development.

Financing round
Money raised

$35mn

Type of financing round

Seed-Round

Comment/Quote

“This new capital allows us to accelerate our discovery of novel biology, targets, and medicines: we are immensely excited about our progress and the impact we can make for patients,” – David Roblin, CEO of Relation Therapeutics.

Investors

The number of PE acquisitions is on the rise again after a decline in February

The number of PE acquisitions increases compared to VC investments
  • In March, 27 PE acquisitions were conducted, representing a share of about 7% of all investment rounds (VC + PE) in March (372).
  • The ratio of acquisitions to investments increased in March and is at its highest in the last 6 months, reaching 7%.
  • With a total of 3 acquisitions, the most companies during March were acquired in London.
Highlight of European PE acquisitions in February
Largest known acquisition  – $4.9bn

 

Aquirer

Cinven

(London-based PE investment house)

 

Acquiree

Alter Domus

(Provider of fund and corporate services)

Partner with us

Unlock the full potential of your financial strategy with Trustventure’s expert guidance. Whether you’re navigating challenges in the financial sector, seeking advice on corporate financing, or enhancing your planning and controlling processes, we’re here to empower your journey and help you create transparency and confidence for you and your investors.

Ready to elevate your financial game? Reach out to us today using our contact form or drop us a direct message at office@trustventure.de. Work with us to achieve your financial success! 🚀

Other articles

M&A European Roll-Up Market Report – May 2025 May 2025 presented a 66% year-over-year decrease in the number of PE-backed acquisitions. In addition to financial, HR, insurance and other services, PEs are also investing in the marketing and e-commerce service industries. Learn all about it in our report and case study. June 11, 2025
VC Landscape European Venture Capital Landscape – May 2025 May 2025 presented the lowest number of VC investments in the last 12 months and Quantum Systems secured a €160 million Series C Round. Learn all about it in our in-depth analysis. June 5, 2025
M&A European Roll-Up Market Report – April 2025 April 2025 presented an 8% year-over-year decline in the number of PE-backed acquisitions. PEs are rolling-up the infrastructure utilities and services industry, given its attractiveness for investment firms. Learn all about it in our report and case study. May 26, 2025
M&A Trustventure advised ladelplan on its exit to RetailSonar RetailSonar announced its acquisition of ladeplan. Trustventure advised ladeplan throughout its sale process. May 22, 2025
VC Landscape European Venture Capital Landscape – April 2025 April 2025 marked the second lowest number of VC investments and invested capital in the last 12 months and CMR Surgical secured $200 million in funding. Learn all about it in our in-depth analysis. May 19, 2025
M&A Trustventure advised World Host Group in the acquisition of Nimbus Hosting World Host Group, a global leader in web hosting and cloud services, announced the acquisition of Nimbus Hosting. Trustventure advised World Host Group throughout its entire add-on acquisition process. May 13, 2025
M&A Trustventure advised World Host Group in the acquisition of Colombia Hosting World Host Group, a global leader in web hosting and cloud services, announced the acquisition of Colombia Hosting. Trustventure advised World Host Group throughout its entire add-on acquisition process. May 13, 2025
M&A Trustventure advised on the sale of WHD Event GmbH by Equivia Partners to Opus Origin WHD Event GmbH, a leading event organizer, was sold by Equivia Partners to Opus Origin. Trustventure advised WHD Event GmbH during the transaction. May 13, 2025
M&A Trustventure advised World Host Group in the acquisition of A2 Hosting (hosting.com) World Host Group, a global leader in web hosting and cloud services, announced the acquisition of A2 Hosting (hosting.com). Trustventure advised World Host Group throughout its entire add-on acquisition process. May 13, 2025
M&A European Roll-Up Market Report – March 2025 March 2025 presented a 18% year-over-year decline in the number of PE-backed acquisitions. PEs like KKR and Atwater are consolidating the European Media & Entertainment industry, as exemplified by this month's case study of Mediawan. Learn all about it in our report and case study. April 22, 2025
All articles