2025
Annual report · 2025-01-01 – 2026-01-01 · vs 2024
Annual
Summary
auto-generatedIn 2025, disclosed funding reached €72B across 3,758 rounds, down -3.3% versus 2024.
Deal count moved +0.2% versus 2024, with 6,556 named investors participating.
UK led by capital with €22B (29.8% of disclosed total).
Fintech was the most-funded sector at €11B (15.5%).
The ten largest rounds accounted for 17.8% of disclosed capital, led by CityFibre's €2.6B.
718 exits were recorded this year worth a combined €45B.
Disclosed funding
€72B
▼ -3.3%€72,089,163,524
Funding rounds
3,758
▲ +0.2%Companies funded
3,593
▲ +0.4%Named investors
6,556
▼ -0.1%Exits
718
▲ +9.8%Provenance: 88% of 3,758 rounds disclosed an amount · 92% of priced rounds are high-confidence · EUR totals reconcile to ECB at-date within +0.05%
Methodology →Investments
Funding within 2025
by monthBiggest deals
top 10 by amount- 1CityFibreDebt · UK · Jul 2025€2.6B
- 2Propel FinanceOther · UK · Jul 2025€1.7B
- 3Mistral AIOther · France · Sep 2025€1.7B
- 4UbisoftOther · France · Mar 2025€1.2B
- 5finnDebt · Germany · Feb 2025€1.0B
- 6NXP SemiconductorsDebt · Netherlands · Jan 2025€1.0B
- 7NscaleSeries B · UK · Sep 2025€937M
- 8GrammarlyOther · Ukraine · May 2025€882M
- 9NebiusDebt · Netherlands · Jun 2025€876M
- 10NokiaOther · Finland · Oct 2025€859M
Concentration
top 10 deals17.8%
of disclosed capital came from the ten largest rounds.
Top 10 total
€13B
Period total
€72B
Countries
Top countries
total euro raisedCapital by country
share of disclosed totalGeographic distribution
European countries shown · click a countryIndustries
Top sectors
total euro raisedCapital by sector
share of disclosed totalStages
Funding by stage
total euro raised by round typeExits
Exit activity
718
exits recorded
€45B
combined disclosed value