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

VC Landscape Germany VC + PE Landscape – Q1 2024 Between a decrease of 7% in invested VC volume and a $200mn funding round, Germany is closing its venture capital landscape Q1-2024. Learn all about it in our latest analysis. April 25, 2024
Events Trustventure’s new partnership with Angels Partners We are thrilled to announce our new partnership with Angels Partner, a plarform connecting founders to relevant investors across different industries, stages and locations. April 23, 2024
VC Landscape European VC Landscape – February 2024 After January's steep increase in invested VC volume, February showed a 24% decrease. Read our in-depth analysis, where you can uncover all the details. March 12, 2024
VC Landscape European VC Landscape – January 2024 2024 started off with a 58% increase in invested VC volume, amouting to $4.9bn total. Explore all the details in this month's analysis. March 12, 2024
Events Web Summit 2024: Trustventure’s Recap After attending to the Web Summit Qatar 2024, we're excited to share our journey with you! Between panel discussions and interactive sessions we are above all thankfull for the opportunity to further connect with the startup community. March 7, 2024
Events Trustventure’s Successful Debut of FINE in Berlin Our Founders and Investors Networking Event (FINE) Berlin was a great success! Thanks to all the amazing people that attended, we managed to bring together a vibrant community of like-minded people. If you couldn't make it this time, here's a recap of everything you missed. February 28, 2024
Design for Trustventure's Investors and Founders event with Germany's map in the background Events Join our Founders and Investors Networking Event (FINE)! Together with French Tech Berlin we are happy to debut FINE, a Networking Event for Founders and Investors! Get your free ticket for an evening filled with drinks, music, and pitches! January 23, 2024
Black and white pine tree in a snowy scenerio VC Landscape European VC Landscape – December + 2023 Recap 2023 was an year of many ups and downs for Venture Capital, having ended with a 33% decrease of invested volume. To learn more, explore our analysis of this month's data plus an in-depth recap of 2023's scenerio. January 22, 2024
Black and white Winter scene with many trees and a clear lake VC Landscape European VC Landscape – November 2023 Even though November ended with a decrease in the number of investments, it also marked a 35% increase in the VC investment volume. Explore all the details in this month's analysis. December 12, 2023
All articles