1、FRANCEPrivate Capital Breakdown20252Contents2025 FRANCE PRIVATE CAPITAL BREAKDOWNPitchBook Data,Inc.Nizar Tarhuni Executive Vice President of Research and Market IntelligencePaul Condra Global Head of Private Markets ResearchNalin Patel Director of Research,EMEA Private CapitalInstitutional Research

2、 GroupAnalysisNavina Rajan Senior Research Analyst,EMEA Private Capital Nicolas Moura,CFA,CAIA Senior Research Analyst,EMEA Private Capital DataCharlie Farber Manager,Data AnalysisOscar Allaway Data Analyst PublishingReport designed by Chloe LadwigPublished on May 21,2025Click here for PitchBooks re

3、port methodologies.Introduction3VC deals4VC exits7VC fundraising8PE deals9PE exits12PE fundraising1432025 FRANCE PRIVATE CAPITAL BREAKDOWNIntroductionVenture capitalIn Q1 2025,Frances venture capital landscape showed a sluggish start despite ambitious,well-funded government initiatives aimed at long

4、-term innovation.Flagship programmes,such as the expanded Deeptech Plannow supporting over 2,500 startups in quantum computing,biotech,and aerospaceand a 109 billion AI investment plan,highlight Frances strategic push to become a global tech leader.Efforts also include alignment with the EU AI Act,e

5、nhanced research&development(R&D)incentives,and France 2030 corporate partnerships.Yet,short-term deal activity remains subdued.Q1 deal value fell to 1.5 billiona 30.9%projected annual droplagging European trends.AI investment declined over 65%year-over-year,dropping behind SaaS and fintech,with the

6、 latter showing resilience.Only late-stage deals hinted at strength,and while median deal sizes rose across most stages,early-stage funding fell.The absence of blockbuster AI dealsprominent in 2024was evident in the top 10,now led by cybersecurity and crypto startups.Despite long-term policy support