In September, the volume of invested venture capital in Europe saw a 34% decrease compared to September 2023, according to Crunchbase data. The total of invested volume reached $4 billion, spread across 483 funding rounds.
Number and volume of announced funding rounds over the past 12 months*
- Number of funding rounds
- Invested volume in $bn
Leader Industries and Investors
According to the number of conducted investments, the software startups lead the market with a total of 118 investments. AI startups secured the second spot with 65 investments, followed by SaaS startups (54).
Now, regarding the companies behind the investments, UK-based Baltic Ventures emerged this month as the most active venture capital investor, completing a total of 7 deals.
With 6 completed deals, Madrid-based Repsol Foundation takes the second spot.
Top 10 Industries of Financed Startups
- Software
- AI
- SaaS
- IT
- BioTech
- Medical
- Health Care
- Manufacturing
- FinTech
- Financial Services
Top 5 Investors with the highest number of deals
- Baltic Ventures
- Repsol Foundation
- Archie
- Techstars
- SRP
Notable funding rounds across Europe
In September, the largest funding round was a $151 million Series A secured by Newcleo, an atomic energy company that focuses on developing advanced nuclear energy technologies. The company was founded in 2021 in London.
While Seed Rounds accounted for the majority of investment rounds, making up approximately 40% of the total, the highest investment volume was seen in Series A Rounds, which accounted for $1.2 billion across 64 deals.
The largest Seed Round was secured by Forth Green Freeport, which raised $32.4 million. Founded in Edinburgh in 2024, the startup offers green technologies, alternative fuels and renewable energy manufacturing in a 45km wide Freeport site in Scottland.
Number and total volume of financing rounds per stage
- Number of funding rounds per stage
- Volume of financing rounds per stage in $mn
Detailed overview by stage
European VC Industry Hotspots
In September, London remains the hotspot of the European VC industry, with Paris securing the second spot.
As in the previous months, the UK led the way with the most investment rounds at 139, followed by France with 60 and Germany with 60.
When ranked by investment volume rather than the number of investments, Mol (Belgium) takes the 5th spot, surpassing Barcelona with $110.3mn invested.
PE Acquisitions Overview
Private Equity (PE) acquisitions increased in September by 137% to 45 compared to September 2023. Of those 45 acquisitions, 13 included companies based in the UK, followed by Germany with 6 and the Netherlands (5).
The Private Equity share as part of the total 528 investment rounds in September (VC + PE) reaches 9%.
The largest known acquisition was San Francisco-based TPG Rise Climate Fund‘s acquisition of techem, a Germany-based energy service provider for the real estate sector for $7.3 billion.
- % of all investment rounds
- Number of PE acquisitions
*All data from CrunchBase, as of October 10, 2024.
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 – January 2026
January 2026 presented a 8% year-over-year increase in the number of PE-backed acquisitions. In addition to Food and Beverage, private equity investors are also targeting InsurTech and Consulting. Learn all about it in our report and case study, including ClearScore’s acquisition of Acre.
February 17, 2026
VC Landscape European Venture Capital Landscape – January 2026
With 299 investments and $4.2 billion raised across Europe, January saw a 7% decrease in volume and 1% reduction in deal count month over month. The largest round of the month was a $414 million Venture Round by the Montabaur-based company Klöckner Pentaplast, which is a manufacturer of plastic films and packaging for food, pharmaceutical, health, and durable products.
February 5, 2026
VC Landscape 2025 Recap: European Venture Capital & Private Equity Landscape
2025 presented an 9% increase in invested Venture Capital volume and the Crypto Startup Binance raised the largest round of the year. Learn all about it in our in-depth analysis.
January 21, 2026
VC Landscape Germany Venture Capital Landscape – Q4 2025
Between an decrease of 66% in invested VC volume and a €343mn funding round in the Health Care space, Germany is closing its venture capital landscape Q4 2025. Learn all about it in our latest analysis.
January 12, 2026
M&A European Roll-Up Market Report – December 2025
December 2025 presented a 0% year-over-year development in the number of PE-backed acquisitions. In addition to Software, private equity investors are also targeting FinTech and Marketing. Learn all about it in our report and case study, including Create Music Group’s acquisition of Cr2 Records.
January 9, 2026
VC Landscape European Venture Capital Landscape – December 2025
With 302 investments and $4.5 billion raised across Europe, December saw a 13% increase in volume and 7% reduction in deal count month over month. The largest round of the month was a $1.0 billion Venture Round by the London-based company Kraken, which is a global customer and culture platform for energy, water, and broadband.
January 7, 2026
M&A European Roll-Up Market Report – November 2025
November 2025 presented a 29% year-over-year decrease in the number of PE-backed acquisitions. In addition to Software, private equity investors are also targeting FinTech and Marketing. Learn all about it in our report and case study, including Octopus Energy’s acquisition of Kuppa.
December 9, 2025
VC Landscape European Venture Capital Landscape – November 2025
November 2025 saw a decline in VC activity, with 324 investments and $4.0 billion raised across Europe, representing a 25% decrease in volume and 18% reduction in deal count month over month. The largest round of the month was a $495 million Venture Round by Amsterdam-based tech company Picnic, which develops a mass-market home delivery system for fast moving consumer goods.
December 5, 2025
M&A European Roll-Up Market Report – October 2025
October 2025 presented a 55% year-over-year decrease in the number of PE-backed acquisitions. In addition to software, private equity investors are also targeting FinTech and Manufacturing. Learn all about it in our report and case study, including Lightcast’s acquisition of Simply Get Results.
November 19, 2025
VC Landscape European Venture Capital Landscape – October 2025
October 2025 saw a decline in VC activity, with 397 investments and $5.3 billion raised across Europe, representing a 28% decrease in volume and 3% reduction in deal count month over month. The largest round of the month was a $433 million Series C Round by London-based AI platform Nscale, which provides a full-stack AI cloud platform designed for enterprise-scale workloads.
November 14, 2025