Please find attached the December 2010 edition of Go4Venture’s Monthly European Technology VC Bulletin, including the latest results from our proprietary Headline Transaction Index (HTI) which tracks technology private financing deals as reported in the press.
As it happens, we finished 2010 on a high note with the largest ever recorded single HTI transaction and overall 2010 total numbers well ahead of the year before: close to +40% by value resulting in a total amount invested equivalent to 2008 - as if 2009 had just been a blip.
As we’ve been chronicling over the last year, these upbeat numbers however very much hide a changed landscape. Concisely, European innovation financing is alive and (reasonably) well, but the European VC industry is not in great form today. European VCs may now have the level of ambition required - seeking superior returns rather than downside protection for its own sake - but they do not have the means of their ambition. In short, European VCs are in a rut where past poor performance makes LPs reluctant to commit to the asset class when opportunities are actually knocking at the door.
For more info please download the pdf file.
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