European startup funding Q4 2015
Quarterly report · 2015-10-01 – 2015-12-31 · vs Q3 2015
Quarterly
Summary
auto-generatedIn Q4 2015, 738 rounds were recorded and disclosed equity funding (excluding debt and grants) reached €3.9B, down 7.1% versus Q3 2015. Debt rounds added a further €119M.
Deal count moved +11.8% versus Q3 2015, with 625 named investors participating.
UK led by equity raised with €937M (24.2% of equity).
Software was the most-funded sector at €748M in equity (19.3%).
The ten largest rounds accounted for 30.7% of disclosed capital, led by O3b Networks's €435M.
175 exits were recorded this quarter worth a combined €21B.
Equity funding
€3.9B
▼ -7.1%excl. debt & grants · +€119M debt
Funding rounds
738
▲ +11.8%Companies funded
730
▲ +12.5%Named investors
625
▲ +13.8%Exits
175
▼ -9.3%Provenance: 78% of 738 rounds disclosed an amount · 26% of priced rounds are high-confidence · EUR totals reconcile to ECB at-date within +2.96%
Methodology →Investments
Funding within Q4 2015
by monthFunding within Q4 2015 — interactive chart.
Data table
| Amount | Deals | |
|---|---|---|
| Oct | €1.2B | 236 |
| Nov | €1.5B | 251 |
| Dec | €1.4B | 251 |
Biggest deals
top 10 by amount- 1O3b NetworksGrowth/Late · Netherlands · Dec 2015€435M
- 2AuxmoneySeries C · Germany · Oct 2015€150M
- 3Atom BankGrowth/Late · UK · Nov 2015€114M
- 4CureVacSeries D+ · Germany · Nov 2015€100M
- 5DeliverooSeries D+ · UK · Nov 2015€91M
- 6Virtus.proSeed · Russia · Oct 2015€89M
- 7EburyGrowth/Late · UK · Nov 2015€75M
- 8SymphogenDebt · Denmark · Oct 2015€68M
- 9ObsEvaSeries B · Switzerland · Nov 2015€54M
- 10CybereasonSeries C · Israel · Oct 2015€53M
Concentration
top 10 deals30.7%
of disclosed capital came from the ten largest rounds.
Top 10 total
€1.2B
Period total
€4.0B
Countries
Top countries
equity raisedQ4 2015 — top countries — interactive chart.
Data table
| Q4 2015 — top countries | |
|---|---|
| UK | €937M |
| Germany | €586M |
| Israel | €542M |
| Netherlands | €514M |
| France | €302M |
| Switzerland | €188M |
| Spain | €116M |
| Sweden | €104M |
| Russia | €99M |
| Denmark | €90M |
Capital by country
share of equityQ4 2015 — capital by country — interactive chart.
Data table
| Q4 2015 — capital by country | |
|---|---|
| UK | €937M |
| Germany | €586M |
| Israel | €542M |
| Netherlands | €514M |
| France | €302M |
| Switzerland | €188M |
| Spain | €116M |
| Sweden | €104M |
| Russia | €99M |
| Denmark | €90M |
| Other | €398M |
Geographic distribution
European countries shown · click a countryQ4 2015 — geographic distribution — interactive chart.
Industries
Top sectors
equity raisedQ4 2015 — top sectors — interactive chart.
Data table
| Q4 2015 — top sectors | |
|---|---|
| Software | €748M |
| Healthtech | €558M |
| Telecom | €535M |
| Fintech | €508M |
| Marketing | €270M |
| Cybersecurity | €269M |
| Media | €249M |
| E-commerce | €220M |
| Transportation | €217M |
| Sports | €200M |
Capital by sector
share of equityQ4 2015 — capital by sector — interactive chart.
Data table
| Q4 2015 — capital by sector | |
|---|---|
| Software | €748M |
| Healthtech | €558M |
| Telecom | €535M |
| Fintech | €508M |
| Marketing | €270M |
| Cybersecurity | €269M |
| Media | €249M |
| E-commerce | €220M |
| Other | €1.6B |
Stages
Funding by stage
total euro raised by round typeQ4 2015 — funding by stage — interactive chart.
Data table
| Amount | |
|---|---|
| Seed | €322M |
| Series A | €583M |
| Series B | €541M |
| Series C | €494M |
| Series D+ | €292M |
| Early VC | €335M |
| Growth/Late | €1.3B |
| Debt | €119M |
| Grant | €4.4M |
| Crowdfunding | €0 |
| Other | €29M |
Exits
Exit activity
175
exits recorded
€21B
combined disclosed value
Exits breakdown
by typeQ4 2015 — exits by type — interactive chart.
Data table
| Q4 2015 — exits by type | |
|---|---|
| Acquisition | 161 |
| Merger | 6 |
| Buyout | 5 |
| IPO | 3 |