Q2 2025

Quarterly report · 2025-04-01 – 2025-07-01 · vs Q1 2025

Quarterly

Summary

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In Q2 2025, disclosed funding reached €15B across 1,000 rounds, down -16.6% versus Q1 2025.

Deal count moved +6.3% versus Q1 2025, with 2,211 named investors participating.

UK led by capital with €4.1B (26.7% of disclosed total).

Fintech was the most-funded sector at €2.7B (17.4%).

The ten largest rounds accounted for 32.0% of disclosed capital, led by Grammarly's €882M.

168 exits were recorded this quarter worth a combined €8.0B.

Disclosed funding

€15B

▼ -16.6%

€15,367,002,867

Funding rounds

1,000

▲ +6.3%

Companies funded

990

▲ +5.4%

Named investors

2,211

▲ +4.3%

Exits

168

▲ +15.1%

Leading country

€4.1B

26.7% of total

Leading sector

Fintech

€2.7B

17.4% of total

Provenance: 87% of 1,000 rounds disclosed an amount · 92% of priced rounds are high-confidence · EUR totals reconcile to ECB at-date within +0.13%

Methodology →

Investments

Funding within Q2 2025

by month

Biggest deals

top 10 by amount

Concentration

top 10 deals

32.0%

of disclosed capital came from the ten largest rounds.

Top 10 total

€4.9B

Period total

€15B

Countries

Top countries

total euro raised

Capital by country

share of disclosed total

Geographic distribution

European countries shown · click a country

Industries

Top sectors

total euro raised

Capital by sector

share of disclosed total

Stages

Funding by stage

total euro raised by round type

Exits

Exit activity

168

exits recorded

€8.0B

combined disclosed value

Exits breakdown

by type

Investors

Most active investors

named, by deal count in period

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