Top 10 rounds account for nearly half of all capital raised

Over the 90 days to 13 November 2026, the ten largest rounds total €13.4B, representing 47.5% of the €28.2B raised across the period — meaning fewer than ten deals account for nearly half of all capital deployed. This concentration sits against a backdrop of 706 deals in the window, up from 670 in the prior comparable period, so deal count rose roughly 5.4% even as the capital base skewed toward a handful of outsized transactions. The gap between the average round of €39.9M and the median of €5M underscores this: a small number of mega-deals, including Mistral AI's €3.0B round in France and Nscale's two UK rounds of €2.95B and €2.59B, pull the mean far above the typical deal size. The six largest disclosed rounds alone sum to €11.2B, spanning France, the UK, Türkiye and the Netherlands, indicating that capital concentration in this window is not confined to a single country but is driven by a small set of very large transactions across several markets.

AI-generatedWritten by an AI model from Tech.eu Funding Explorer data (2026-11-15). Figures are checked against the underlying data and each draft is reviewed by an independent second model before publishing; anything unverifiable is held back. Not investment advice. Labelled for AI transparency (EU AI Act Art. 50, applicable from 2 Aug 2026).