2024 European Venture and Growth Market Outlook

This document is a report that outlines the European Venture and Growth market's performance and expectations heading into 2024. It discusses the reset experienced in 2023, where deal value stabilized between US$5 billion to US$8 billion per quarter, despite an overall funding decline of approximately 50% year-on-year. The report identifies five key questions that may influence equity fundraising, including the impact of central banks' easing cycles, liquidity improvements, and the momentum of funding in hard technologies. It also highlights the potential recovery of sectors that saw lower activity in 2023, particularly FinTech and Software, and the ongoing dominance of AI in larger funding rounds. The report is structured into three main sections: the Venture & Growth Capital Cycle, key funding trends in 2023, and a sector outlook for 2024. It emphasizes the importance of technological innovation and market conditions in shaping future funding dynamics.