August was the slowest month YTD, with over €1.9 billion raised in some 203 deals. This figure represents a decrease of around 60 per cent compared to the previous month (in July European tech companies collected €5 billion).
The August slowdown within the European tech investment landscape commented Jasenko Hadzic, Principal at BackingMinds, in our August Tech.eu Pulse, a compact version of the monthly report:
The summer months are notoriously hard to fundraise in – Nordic funds are off on holidays in July, whereas funds from UK and rest of Europe are out in August.
The funding/exit data for August very much reflects this, making August the slowest month YTD. This is as expected and a cyclical trend in our industry.
Looking ahead, I’m optimistic that Q3 will end on a high note and Q4 will reach pre-summer levels. With central banks all of the world cutting interest rates, inflation numbers should come down, making investors unload some of that dry-powder and activity to pick up even more.
For his more detailed review as well as more in-depth analyses of the European tech ecosystem, including industry and country performance, exit activities and more, check out our August report.
And here is the list of 10 biggest European tech deals in August which collected together around 60 per cent of the total amount collected this month.
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