1、EUROPEANVenture ReportSponsored by2024ANNUALWith decades of global experience,a robust professional and venture capital network,and scalable money-management solutions,we are dedicated to helping you succeed.See how we can support your growth at are the bank of the Innovation EconomyFrom plausibleto

2、 possiblePitchBook Data,Inc.Nizar Tarhuni Executive Vice President of Research and Market IntelligenceDylan Cox,CFA Head of Private Markets ResearchInstitutional Research GroupAnalysisContents32024 ANNUAL EUROPEAN VENTURE REPORTPublished on 22 January 2025Click here for PitchBooks report methodologi

3、es.PublishingReport designed by Chloe Ladwig and Jenna OMalleyDataCharlie Farber Manager of Data Analysis Oscar Allaway Data Analyst Sponsored byIntroduction4Deals 5Venture debt8A word from J.P.Morgan10Spotlight:AI in Europe in 2024 12Exits14Fundraising18Navina Rajan Senior Analyst,EMEA Private Capi

4、tal Sponsored by42024 ANNUAL EUROPEAN VENTURE REPORTINTRODUCTIONIntroduction2024 venture capital(VC)deal value lagged despite macroeconomic recovery and gains in venture growth.Value over volume was the flavour of deal activity in 2024:Valuations improved,but declines in deal count were more pronoun

5、ced as the move to quality and emphasis on profitability continued.Despite deal activitys inflection past trough levels,capital availability remained tight as the time between rounds continued to widen.Clarity on interest rates supported the recovery in valuations,but growth prospects remained mixed

6、,contributing to a tone of cautious optimism throughout the year.As expected,artificial intelligence(AI)was a prevalent sector,which we expand upon in the“Spotlight”section in this report.However,growth in life sciences investment nearly matched the rate of uptick in AI.We continue to call out ventu