July ended so it's time for another monthly investment update for Europe & Israel. While not the most active month of the year, July was still ahead of the same month last year and so 2018 continues to extend it's lead over 2017. Meanwhile, the UK extended its lead over other countries. Major investment rounds included Greensill, Glovo, Improbable, Secret Escapes and others.
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Monthly European Venture Capital report
6 August 2018
July 2018
100
200
300
400
500
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
2017
2018
>2M
0-2M
1.2B
1.4B
2.3B
2.0B
1.4B
1.1B
1.9B
1.4B
1.7B
1.3B
2.1B
2.0B
1.5B
1.8B
2.7B
2.8B
2.4B
1.8B 1.8B
2.3B
1.7B
2.1B
1.9B
2.4B
2.7B
1.9B
0.5B
1.0B
1.5B
2.0B
2.5B
3.0B
3.5B
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
2017
2018
Europe excl. Israel
Biotech
Israel
July investment of 1.9 billion (including Israel and
biotech) was just above of July 2017 level
Source: Dealroom.co. Includes Israel. Excludes buyouts, secondary transactions, debt, ICOs, lending capital, grants.
1. Rounds below $2M are often reported with a delay of several months. Therefore, only rounds above $2M are shown here for better like-for-like comparison.
Investment in European & Israeli rounds VC rounds
2
Investment in European & Israeli rounds VC rounds
July investment of 1.5 billion excl. Israel and biotech
was also just above of 2017
Decline in number of rounds is mostly temporary, as
rounds below 2 million are announced with delays.
Number of rounds above 2 million is stable
970
1,662
988
200
400
600
800
1,000
1,200
1,400
1,600
1,800
Jan Feb Mar Apr May Jun
Jul Aug Sep Oct Nov Dec
2017
2018
13B
24B
15B
5B
10B
15B
20B
25B
30B
Jan Feb Mar Apr May Jun
Jul Aug Sep Oct Nov Dec
2017
2018
By amount invested, 2018 is well ahead of 2017 so far
(which was a record year itself)
Source: Dealroom.co. Includes Israel. Excludes buyouts, secondary transactions, debt, ICOs, lending capital, grants.
1. Rounds below $2M are often reported with a delay of several months. Therefore, only rounds above $2M are shown here for better like-for-like comparison.
3
Cumulative amount invested 2018 vs. 2017 (B)
Cumulative number of rounds 2018 vs. 2017 (>2M)
The 10 largest rounds in July accounted for 0.8B or
47% of total investment
Source: Dealroom.co. Excludes buyouts, secondary transactions, debt, ICOs, lending capital, grants.
Show online data
4
NAME
INVESTORS
INDUSTRY
LOCATION
ROUND
Greensill
Financial services firm specializing in Supply Chain Finance
General Atlantic
Fintech
UK
$ 250 m
Growth Equity
Glovo
On-demand mobile application connects customers with independent local
couriers
Seaya Ventures, Idinvest Partners,
Rakuten, Cathay Innovation,
AmRest, GR Capital
Food /
Transportation
Spain
115 m
SERIES C
Improbable
A cloud-based platform for game developers to create AI-powered simulated
worlds
NetEase
Enterprise
Software
UK
$ 100 m
LATE VC
Next Insurance
Online insurance for entrepreneurs and SMEs
Redpoint Ventures, Ribbit Capital,
American Express Ventures,
Nationwide Insurance,
Fintech
Israel
$ 83 m
Series B
Secret Escapes
Exclusive, members-only discounted offers for hotels and luxury holidays
Old Mutual Global Investors
Travel
UK
52 m
Growth Equity
UrbanVolt
Energy-saving LED lighting firm
Low Carbon Innovation Fund
Energy
Ireland
$ 65 m
Growth Equity
Mantis Vision
3D capturing technologies
Samsung Catalyst Fund
Media
Israel
$ 55 m
Late VC
Dynacure
A biotechnology company developing new treatments for patients affected by
serious orphan disorders
Bpifrance, Idinvest Partners,
Pontifax Funds, Kurma Partners,
Andera Partners
Health
France
47 m
Series A
PPRO
Cross-border payments specialist for merchants
HPE Growth Capital, PayPal, Citi
Ventures
Fintech
UK
$ 50 m
Growth Equity
Meero
AI for image processing
Alven, Idinvest Partners
Media
France
$ 45 m
Series B
Top rounds
Greensill (Fintech)
Founded in 2011, Greensill provides businesses with
alternative sources of funding, allowing them to
provide suppliers with the opportunity for faster
payment, while at the same time preserving their own
capital position
It has facilitated payments to 1.5 million suppliers and
provided over $40 billion of financing
General Atlantic's $250 million investment values
Greensill at $1.64 billion
Glovo (Food / Transportation)
Glovo is one of the most popular delivery apps in the
Spanish-speaking world. It allows its customers to
order anything they want and receive it in less than
one hour
IdInvest Partners and AmRest lead this round
Improbable (Enterprise Software)
Improbable's cloud-based platform SpatialOS helps
developers to offload computations in order to bypass
some of the limitations of PC, console and mobile
platforms
With this round, Improbable confirmed its unicorn
status and is now valued at about $2 billion
Secret Escapes (Travel)
Secret Escapes will use the cash to boost the ongoing
integration of the Slevomat Group a travel deals and
experiences company it acquired late last year
Secret Escapes has expanded into 21 territories across
Europe, Asia and the US since launching seven years
ago
July saw over 5.2 billion in acquisitions of which
3.2 billion venture backed exits
Source: Dealroom.co
NAME
ACQUIROR
SELLER
VC BACKED
INDUSTRY
LOCATION
ROUND
Suse
Enterprise Linux, Openstack cloud, software-defined storage
EQT Private Equity
Micro Focus
Enterprise Software
Germany
$ 2.5b ACQUISITION
Leumi Card
Israeli credit card issuer
Warburg Pincus
Azrieli Group
Bank Leumi
Fintech
Israel
$ 684 m
BUYOUT
TiGenix
Local treatments for damaged and osteoarthritic joints
Takeda
Healthcare
Belgium
520 m
ACQUISITION
Basefarm
Specialises in operational and IT-related services on the net
Orange
Enterprise Software
Norway
350 m
ACQUISITION
Finanzcheck.de
Consumer loans marketplace
Scout24 Holding
Highland Europe, Acton Capital
Partners, HarbourVest Partners
Fintech
Germany
285 m
ACQUISITION
PeopleDoc
Provides HR service delivery solutions
Ultimate Software
Accel Partners, Alven, Kernel
Capital, Eurazo
Jobs Recruitment
France
$ 300 m
ACQUISITION
Banking Circle
Enabling global payments and settlements
EQT Private Equity
Saxo Bank
Fintech
Denmark
$ 300 m
ACQUISITION
MetaPack
Delivery management solutions that enable online retailers to increase
user engagement and sales conversions
Stamps.com
Index Ventures, Brainspark,
WPP Ventures
Transportation
UK
197 m
ACQUISITION
TenBis
#1 online platform in the Israeli restaurant and food ordering market
Takeaway.com
TA Associates
Food
Israel
135 m
ACQUISITION
TxCell
Develops cell-based immuno-therapies for the treatment of severe chronic
inflammatory diseases
Sangamo Therapeutics
Seventure Partners, Ardian,
Auriga Partners, Bioam
Gestion, Innovation Capital
Healthcare
France
72 m
ACQUISITION
5
By VC backed exits, 2018 is far ahead of 2017 driven
by a handful of mega-exits
Source: Dealroom.co
6
16B
24B
54B
10B
20B
30B
40B
50B
60B
Jan Feb Mar Apr May Jun
Jul Aug Sep Oct Nov Dec
2017
2018
221
382
170
50
100
150
200
250
300
350
400
450
Jan Feb Mar Apr May Jun
Jul Aug Sep Oct Nov Dec
2017
2018
Cumulative value of VC-backed exits 2018 vs. 2017
Cumulative number of VC backed exits 2018 vs. 2017
The UK, Germany, France and Israel (the big four)
continue to receive 70% of total investment
Source: Dealroom.co. Excludes buyouts, secondary transactions, debt, ICOs, lending capital, grants.
7
11% YoY growth
87%
17%
10%
(35%)
(10%)
(11%)
(17%)
10%
43%
Number of rounds (>$2M size) Jan-July '18
Investment by country (B) Jan-July '18
238
194
126
89
49
42
42
31
23
20
19
15
13
13
10
6
5
3
3
2
United Kingdom
France
Israel
Germany
Sweden
Netherlands
Switzerland
Spain
Belgium
Finland
Italy
Russia
Ireland
Denmark
Norway
Austria
Portugal
Estonia
Greece
Romania
3.8B
2.5B
2.2B
1.9B
0.6B
0.5B
0.5B
0.4B
0.4B
0.3B
0.3B
0.3B
0.2B
0.2B
0.2B
0.2B
0.1B
0.1B
0.1B
0.1B
United Kingdom
Germany
France
Israel
Spain
Switzerland
Sweden
Netherlands
Portugal
Finland
Belgium
Ireland
Italy
Estonia
Denmark
Russia
Romania
Cyprus
Austria
Norway
The big four (UK, Germany, France, and Israel)
continue to be highly active in 2018 to date
Source: Dealroom.co. Excludes buyouts, secondary transactions, debt, ICOs, lending capital, grants.
8
0.7B
0.4B
0.3B
0.2B
0.2B
0.2B
0.2B
0.1B
0.1B
0.1B
0.1B
0.1B
0.0B
0.0B
0.0B
( 0.0B)
( 0.0B)
( 0.1B)
( 0.1B)
( 0.2B)
( 0.5B)
0.5B
1.0B
France
Portugal
Germany
Israel
Switzerland
Finland
Estonia
Cyprus
Italy
Romania
Belgium
Denmark
Ireland
Norway
Russia
United Kingdom
Spain
Austria
Netherlands
Sweden
% change vs. last year (number of rounds)
Absolute change vs. last year (in B)
150%
138%
100%
50%
50%
45%
25%
24%
20%
11%
9%
1%
(4%)
(17%)
(24%)
(24%)
(28%)
(39%)
(42%)
(100%)
(50%)
50%
100%
150%
200%
Portugal
Italy
Austria
Estonia
Greece
Switzerland
Finland
Netherlands
France
Norway
Israel
United Kingdom
Romania
Belgium
Germany
Ireland
Denmark
Spain
Sweden
Russia
Source: Dealroom.co. Excludes buyouts, secondary transactions, debt, ICOs, lending capital, grants.
1. Rounds below $2M are included here.
9
The big four: the United Kingdom continues its lead
after a very active July
2018 cumulative number of rounds (1)
2018 cumulative amount invested by country
436
163
331
143
50
100
150
200
250
300
350
400
450
500
Jan
Feb
Mar
Apr
May
Jun
Jul
United Kingdom
Germany
France
Israel
1.9B
2.2B
2.5B
3.8B
0.5B
1.0B
1.5B
2.0B
2.5B
3.0B
3.5B
4.0B
Jan
Feb
Mar
Apr
May
Jun
Jul
United Kingdom
Germany
France
Israel
Health, fintech and enterprise software continue to be
the most invested industries
Source: Dealroom.co. Excludes buyouts, secondary transactions, debt, ICOs, lending capital, grants.
10
By
industry
vertical
By
business
model
By
keyword
Number of rounds
Amount invested (B)
3.2B
3.0B
2.6B
1.8B
1.3B
0.9B
0.9B
0.7B
0.6B
0.5B
0.5B
0.4B
0.3B
0.3B
0.3B
0.3B
5.6B
3.1B
2.2B
1.5B
1.2B
3.5B
2.0B
0.5B
0.4B
0.1B
1.0B
2.0B
3.0B
4.0B
5.0B
6.0B
Fintech
Health
Enterprise software
Transportation
Biotech
Security
Travel
Energy
Food
Home
Robotics
Gaming
Insurance
Semiconductors
Fashion
Telecom
SaaS
Manufacturing
Marketplace
Mobile app
eCommerce
Deep Tech
Artificial intelligence
InternetOfThings
Blockchain
Virtual reality
384
292
290
145
130
106
106
97
71
71
57
51
45
39
37
25
711
407
234
136
101
432
257
92
53
26
100
200
300
400
500
600
700
800
Enterprise software
Fintech
Health
Transportation
Energy
Security
Food
Biotech
Travel
Home
Fashion
Robotics
Semiconductors
Insurance
Gaming
Telecom
SaaS
Manufacturing
Marketplace
eCommerce
Mobile app
Deep Tech
Artificial intelligence
InternetOfThings
Blockchain
Virtual reality
Increased focus on deep tech related areas (robotics,
AI, semiconductors) is noticeable in investment data
Source: Dealroom.co. Only includes rounds above 2M. Excludes buyouts, secondary transactions, debt, ICOs, lending capital, grants.
11
By
industry
vertical
By
business
model
By
keyword
1.1B
1.0B
0.7B
0.5B
0.4B
0.4B
0.2B
0.1B
0.1B
0.1B
( 0.1B)
( 0.2B)
( 0.3B)
( 0.3B)
( 0.6B)
( 0.7B)
1.3B
0.7B
0.3B
( 0.9B)
( 1.0B)
0.7B
0.2B
0.2B
( 0.1B)
( 0.4B)
( 1.5B)
( 1.0B)
( 0.5B)
0.5B
1.0B
1.5B
Transportation
Health
Fintech
Travel
Biotech
Robotics
Energy
Security
Telecom
Semiconductors
Insurance
Home
Gaming
Fashion
Food
Enterprise software
Manufacturing
Mobile app
SaaS
eCommerce
Marketplace
Deep Tech
Artificial intelligence
Blockchain
InternetOfThings
Virtual reality
100%
56%
33%
30%
17%
16%
6%
5%
(5%)
(7%)
(10%)
(14%)
(20%)
(24%)
(25%)
38%
34%
(0%)
(24%)
(29%)
51%
27%
17%
(4%)
(33%)
(50%)
50%
100%
150%
Robotics
Semiconductors
Security
Food
Biotech
Transportation
Health
Energy
Insurance
Fashion
Enterprise software
Travel
Fintech
Telecom
Gaming
Home
Mobile app
Manufacturing
SaaS
eCommerce
Marketplace
Artificial intelligence
Blockchain
Deep Tech
InternetOfThings
Virtual reality
% change vs. last year (number of rounds)
Absolute change vs. last year (in B)
Heatmap of 2018 venture capital investment by
country and industry
12
Source: Dealroom.co.
Number of rounds in 2018 to date by country
Europe total
United
Kingdom
Germany
France
Israel
Sweden
Netherlands
Spain
Russia
Switzerland
Ireland
Number of
rounds
% YoY
growth
Investment
(B)
% YoY
growth
Industry vertical
Fintech
101
20
32
20
25
9
16
6
12
7
155
8%
2.6B
27%
Health
69
16
49
23
32
30
10
2
23
5
188
29%
2.7B
57%
Enterprise software
95
38
70
31
15
25
24
7
9
7
212
15%
2.4B
(15%)
Energy
28
9
29
6
17
24
3
8
4
66
25%
0.6B
27%
Transportation
25
20
28
10
11
15
9
10
9
70
32%
1.7B
169%
Security
24
4
9
43
8
3
5
1
5
1
76
65%
0.8B
32%
Food
17
6
24
6
8
3
5
3
5
2
50
61%
0.4B
(63%)
Biotech
24
4
19
9
12
9
3
12
82
28%
1.3B
44%
Travel
21
9
10
1
3
8
12
2
37
6%
0.8B
111%
Home
15
6
13
6
8
8
5
2
3
41
(16%)
0.4B
(39%)
Insurance
19
7
5
3
3
3
22
22%
0.2B
(51%)
Telecom
7
1
6
5
4
1
1
1
17
0.3B
54%
Fashion
6
7
6
1
11
4
7
4
2
1
23
21%
0.2B
(55%)
Semiconductors
8
6
8
6
3
3
2
5
2
28
75%
0.3B
31%
Robotics
9
2
12
7
1
6
1
4
7
36
177%
0.5B
447%
Gaming
7
4
3
2
11
1
1
2
20
(5%)
0.3B
(49%)
Business model
SaaS
163
74
130
69
51
46
37
19
18
10
406
24%
4.9B
6%
Manufacturing
84
21
73
41
28
66
11
4
35
7
232
60%
2.8B
69%
Marketplace
58
32
43
5
18
11
22
9
6
110
(13%)
2.0B
(36%)
eCommerce
22
19
23
7
17
8
8
6
4
2
73
(4%)
0.9B
(51%)
Mobile app
23
2
15
7
7
5
8
7
7
1
54
54%
1.3B
96%
Keywords
Deep Tech
114
29
61
59
25
37
17
11
24
4
256
46%
3.2B
34%
Artificial intelligence
78
15
31
39
18
19
11
7
6
1
165
101%
1.8B
27%
InternetOfThings
13
13
20
20
5
3
2
1
6
50
19%
0.5B
(3%)
Blockchain
15
3
1
4
4
5
5
8
2
19
36%
0.4B
184%
Virtual reality
9
2
2
4
5
4
8
(20%)
0.0B
(92%)
Total
440
163
334
145
200
152
96
54
83
28
988
22%
13.1B
18%
Investment activity by selected leading investors
Source: Dealroom.co.
13
Number of rounds in 2018 YTD by country
Number of rounds in 2018 YTD by industry vertical
United
Kingdom
Germany
France
Israel
Sweden
Netherlands
SaaS
Deep Tech Manufacturing Marketplace
Enterprise
software
Transportation
Fintech
Artificial
intelligence
Energy
Health
Travel
Index Ventures
3
1
3
2
1
2
1
4
1
1
HV Holtzbrinck Ventures
1
6
1
4
2
5
2
1
1
3
2
Balderton Capital
3
2
3
1
4
1
1
4
4
1
2
Northzone
3
4
4
4
2
3
Lakestar
1
3
1
1
1
2
Sequoia Capital
2
1
4
1
5
3
1
1
1
3
2
Accel Partners
1
1
1
1
1
5
3
4
2
3
Insight Venture Partners
1
1
1
1
5
2
3
2
2
1
Bpifrance
35
13
8
10
4
7
4
6
3
6
2
Rocket Internet SE
1
1
Intel Capital
1
2
2
1
2
4
5
2
1
2
83North
Atomico
3
1
2
1
2
1
2
1
2
LocalGlobe
12
1
6
4
2
5
3
1
4
2
2
IDInvest Partners
10
7
3
4
4
2
1
Point Nine Capital
1
1
1
1
1
1
1
EQT Ventures
1
1
1
3
2
3
2
Global Founders Capital
5
2
1
2
2
1
3
1
1
1
2
1
1
Partech
3
9
1
4
1
3
1
5
3
2
1
1
Greylock Partners
1
1
1
1
Creandum
1
1
1
1
3
2
1
Benchmark
360 Capital Partners
1
3
1
2
1
1
1
2
1
DN Capital
1
2
1
2
1
1
Mangrove Capital Partners
1
3
2
3
2
Acton Capital Partners
3
1
2
1
Octopus Investments
1
1
1
1
Intel Capital
1
2
2
1
2
4
5
2
1
2
Softbank
1
1
1
3
1
1
2
1
Naspers
Tengelmann Ventures
1
2
3
1
1
1
Nokia Growth Partners
Tencent
1
1
1
1
Qualcomm Ventures
1
1
1
1
Axel Springer
2
1
2
2
Salesforce Ventures
1
1
1
1
1
1
Microsoft
ProSiebenSat1 Media SE
GV
3
1
3
2
1
2
2
3
Iris Capital
1
3
2
1
2
1
Barclays
BNP Paribas
6
4
1
1
1
2
1
Orange
1
Rakuten
2
1
2
1
2
1
3
1
Intelligent global database to identify & track growth
opportunities and innovative companies
6 August 2018
July 2018
100
200
300
400
500
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
2017
2018
>2M
0-2M
1.2B
1.4B
2.3B
2.0B
1.4B
1.1B
1.9B
1.4B
1.7B
1.3B
2.1B
2.0B
1.5B
1.8B
2.7B
2.8B
2.4B
1.8B 1.8B
2.3B
1.7B
2.1B
1.9B
2.4B
2.7B
1.9B
0.5B
1.0B
1.5B
2.0B
2.5B
3.0B
3.5B
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
2017
2018
Europe excl. Israel
Biotech
Israel
July investment of 1.9 billion (including Israel and
biotech) was just above of July 2017 level
Source: Dealroom.co. Includes Israel. Excludes buyouts, secondary transactions, debt, ICOs, lending capital, grants.
1. Rounds below $2M are often reported with a delay of several months. Therefore, only rounds above $2M are shown here for better like-for-like comparison.
Investment in European & Israeli rounds VC rounds
2
Investment in European & Israeli rounds VC rounds
July investment of 1.5 billion excl. Israel and biotech
was also just above of 2017
Decline in number of rounds is mostly temporary, as
rounds below 2 million are announced with delays.
Number of rounds above 2 million is stable
970
1,662
988
200
400
600
800
1,000
1,200
1,400
1,600
1,800
Jan Feb Mar Apr May Jun
Jul Aug Sep Oct Nov Dec
2017
2018
13B
24B
15B
5B
10B
15B
20B
25B
30B
Jan Feb Mar Apr May Jun
Jul Aug Sep Oct Nov Dec
2017
2018
By amount invested, 2018 is well ahead of 2017 so far
(which was a record year itself)
Source: Dealroom.co. Includes Israel. Excludes buyouts, secondary transactions, debt, ICOs, lending capital, grants.
1. Rounds below $2M are often reported with a delay of several months. Therefore, only rounds above $2M are shown here for better like-for-like comparison.
3
Cumulative amount invested 2018 vs. 2017 (B)
Cumulative number of rounds 2018 vs. 2017 (>2M)
The 10 largest rounds in July accounted for 0.8B or
47% of total investment
Source: Dealroom.co. Excludes buyouts, secondary transactions, debt, ICOs, lending capital, grants.
Show online data
4
NAME
INVESTORS
INDUSTRY
LOCATION
ROUND
Greensill
Financial services firm specializing in Supply Chain Finance
General Atlantic
Fintech
UK
$ 250 m
Growth Equity
Glovo
On-demand mobile application connects customers with independent local
couriers
Seaya Ventures, Idinvest Partners,
Rakuten, Cathay Innovation,
AmRest, GR Capital
Food /
Transportation
Spain
115 m
SERIES C
Improbable
A cloud-based platform for game developers to create AI-powered simulated
worlds
NetEase
Enterprise
Software
UK
$ 100 m
LATE VC
Next Insurance
Online insurance for entrepreneurs and SMEs
Redpoint Ventures, Ribbit Capital,
American Express Ventures,
Nationwide Insurance,
Fintech
Israel
$ 83 m
Series B
Secret Escapes
Exclusive, members-only discounted offers for hotels and luxury holidays
Old Mutual Global Investors
Travel
UK
52 m
Growth Equity
UrbanVolt
Energy-saving LED lighting firm
Low Carbon Innovation Fund
Energy
Ireland
$ 65 m
Growth Equity
Mantis Vision
3D capturing technologies
Samsung Catalyst Fund
Media
Israel
$ 55 m
Late VC
Dynacure
A biotechnology company developing new treatments for patients affected by
serious orphan disorders
Bpifrance, Idinvest Partners,
Pontifax Funds, Kurma Partners,
Andera Partners
Health
France
47 m
Series A
PPRO
Cross-border payments specialist for merchants
HPE Growth Capital, PayPal, Citi
Ventures
Fintech
UK
$ 50 m
Growth Equity
Meero
AI for image processing
Alven, Idinvest Partners
Media
France
$ 45 m
Series B
Top rounds
Greensill (Fintech)
Founded in 2011, Greensill provides businesses with
alternative sources of funding, allowing them to
provide suppliers with the opportunity for faster
payment, while at the same time preserving their own
capital position
It has facilitated payments to 1.5 million suppliers and
provided over $40 billion of financing
General Atlantic's $250 million investment values
Greensill at $1.64 billion
Glovo (Food / Transportation)
Glovo is one of the most popular delivery apps in the
Spanish-speaking world. It allows its customers to
order anything they want and receive it in less than
one hour
IdInvest Partners and AmRest lead this round
Improbable (Enterprise Software)
Improbable's cloud-based platform SpatialOS helps
developers to offload computations in order to bypass
some of the limitations of PC, console and mobile
platforms
With this round, Improbable confirmed its unicorn
status and is now valued at about $2 billion
Secret Escapes (Travel)
Secret Escapes will use the cash to boost the ongoing
integration of the Slevomat Group a travel deals and
experiences company it acquired late last year
Secret Escapes has expanded into 21 territories across
Europe, Asia and the US since launching seven years
ago
July saw over 5.2 billion in acquisitions of which
3.2 billion venture backed exits
Source: Dealroom.co
NAME
ACQUIROR
SELLER
VC BACKED
INDUSTRY
LOCATION
ROUND
Suse
Enterprise Linux, Openstack cloud, software-defined storage
EQT Private Equity
Micro Focus
Enterprise Software
Germany
$ 2.5b ACQUISITION
Leumi Card
Israeli credit card issuer
Warburg Pincus
Azrieli Group
Bank Leumi
Fintech
Israel
$ 684 m
BUYOUT
TiGenix
Local treatments for damaged and osteoarthritic joints
Takeda
Healthcare
Belgium
520 m
ACQUISITION
Basefarm
Specialises in operational and IT-related services on the net
Orange
Enterprise Software
Norway
350 m
ACQUISITION
Finanzcheck.de
Consumer loans marketplace
Scout24 Holding
Highland Europe, Acton Capital
Partners, HarbourVest Partners
Fintech
Germany
285 m
ACQUISITION
PeopleDoc
Provides HR service delivery solutions
Ultimate Software
Accel Partners, Alven, Kernel
Capital, Eurazo
Jobs Recruitment
France
$ 300 m
ACQUISITION
Banking Circle
Enabling global payments and settlements
EQT Private Equity
Saxo Bank
Fintech
Denmark
$ 300 m
ACQUISITION
MetaPack
Delivery management solutions that enable online retailers to increase
user engagement and sales conversions
Stamps.com
Index Ventures, Brainspark,
WPP Ventures
Transportation
UK
197 m
ACQUISITION
TenBis
#1 online platform in the Israeli restaurant and food ordering market
Takeaway.com
TA Associates
Food
Israel
135 m
ACQUISITION
TxCell
Develops cell-based immuno-therapies for the treatment of severe chronic
inflammatory diseases
Sangamo Therapeutics
Seventure Partners, Ardian,
Auriga Partners, Bioam
Gestion, Innovation Capital
Healthcare
France
72 m
ACQUISITION
5
By VC backed exits, 2018 is far ahead of 2017 driven
by a handful of mega-exits
Source: Dealroom.co
6
16B
24B
54B
10B
20B
30B
40B
50B
60B
Jan Feb Mar Apr May Jun
Jul Aug Sep Oct Nov Dec
2017
2018
221
382
170
50
100
150
200
250
300
350
400
450
Jan Feb Mar Apr May Jun
Jul Aug Sep Oct Nov Dec
2017
2018
Cumulative value of VC-backed exits 2018 vs. 2017
Cumulative number of VC backed exits 2018 vs. 2017
The UK, Germany, France and Israel (the big four)
continue to receive 70% of total investment
Source: Dealroom.co. Excludes buyouts, secondary transactions, debt, ICOs, lending capital, grants.
7
11% YoY growth
87%
17%
10%
(35%)
(10%)
(11%)
(17%)
10%
43%
Number of rounds (>$2M size) Jan-July '18
Investment by country (B) Jan-July '18
238
194
126
89
49
42
42
31
23
20
19
15
13
13
10
6
5
3
3
2
United Kingdom
France
Israel
Germany
Sweden
Netherlands
Switzerland
Spain
Belgium
Finland
Italy
Russia
Ireland
Denmark
Norway
Austria
Portugal
Estonia
Greece
Romania
3.8B
2.5B
2.2B
1.9B
0.6B
0.5B
0.5B
0.4B
0.4B
0.3B
0.3B
0.3B
0.2B
0.2B
0.2B
0.2B
0.1B
0.1B
0.1B
0.1B
United Kingdom
Germany
France
Israel
Spain
Switzerland
Sweden
Netherlands
Portugal
Finland
Belgium
Ireland
Italy
Estonia
Denmark
Russia
Romania
Cyprus
Austria
Norway
The big four (UK, Germany, France, and Israel)
continue to be highly active in 2018 to date
Source: Dealroom.co. Excludes buyouts, secondary transactions, debt, ICOs, lending capital, grants.
8
0.7B
0.4B
0.3B
0.2B
0.2B
0.2B
0.2B
0.1B
0.1B
0.1B
0.1B
0.1B
0.0B
0.0B
0.0B
( 0.0B)
( 0.0B)
( 0.1B)
( 0.1B)
( 0.2B)
( 0.5B)
0.5B
1.0B
France
Portugal
Germany
Israel
Switzerland
Finland
Estonia
Cyprus
Italy
Romania
Belgium
Denmark
Ireland
Norway
Russia
United Kingdom
Spain
Austria
Netherlands
Sweden
% change vs. last year (number of rounds)
Absolute change vs. last year (in B)
150%
138%
100%
50%
50%
45%
25%
24%
20%
11%
9%
1%
(4%)
(17%)
(24%)
(24%)
(28%)
(39%)
(42%)
(100%)
(50%)
50%
100%
150%
200%
Portugal
Italy
Austria
Estonia
Greece
Switzerland
Finland
Netherlands
France
Norway
Israel
United Kingdom
Romania
Belgium
Germany
Ireland
Denmark
Spain
Sweden
Russia
Source: Dealroom.co. Excludes buyouts, secondary transactions, debt, ICOs, lending capital, grants.
1. Rounds below $2M are included here.
9
The big four: the United Kingdom continues its lead
after a very active July
2018 cumulative number of rounds (1)
2018 cumulative amount invested by country
436
163
331
143
50
100
150
200
250
300
350
400
450
500
Jan
Feb
Mar
Apr
May
Jun
Jul
United Kingdom
Germany
France
Israel
1.9B
2.2B
2.5B
3.8B
0.5B
1.0B
1.5B
2.0B
2.5B
3.0B
3.5B
4.0B
Jan
Feb
Mar
Apr
May
Jun
Jul
United Kingdom
Germany
France
Israel
Health, fintech and enterprise software continue to be
the most invested industries
Source: Dealroom.co. Excludes buyouts, secondary transactions, debt, ICOs, lending capital, grants.
10
By
industry
vertical
By
business
model
By
keyword
Number of rounds
Amount invested (B)
3.2B
3.0B
2.6B
1.8B
1.3B
0.9B
0.9B
0.7B
0.6B
0.5B
0.5B
0.4B
0.3B
0.3B
0.3B
0.3B
5.6B
3.1B
2.2B
1.5B
1.2B
3.5B
2.0B
0.5B
0.4B
0.1B
1.0B
2.0B
3.0B
4.0B
5.0B
6.0B
Fintech
Health
Enterprise software
Transportation
Biotech
Security
Travel
Energy
Food
Home
Robotics
Gaming
Insurance
Semiconductors
Fashion
Telecom
SaaS
Manufacturing
Marketplace
Mobile app
eCommerce
Deep Tech
Artificial intelligence
InternetOfThings
Blockchain
Virtual reality
384
292
290
145
130
106
106
97
71
71
57
51
45
39
37
25
711
407
234
136
101
432
257
92
53
26
100
200
300
400
500
600
700
800
Enterprise software
Fintech
Health
Transportation
Energy
Security
Food
Biotech
Travel
Home
Fashion
Robotics
Semiconductors
Insurance
Gaming
Telecom
SaaS
Manufacturing
Marketplace
eCommerce
Mobile app
Deep Tech
Artificial intelligence
InternetOfThings
Blockchain
Virtual reality
Increased focus on deep tech related areas (robotics,
AI, semiconductors) is noticeable in investment data
Source: Dealroom.co. Only includes rounds above 2M. Excludes buyouts, secondary transactions, debt, ICOs, lending capital, grants.
11
By
industry
vertical
By
business
model
By
keyword
1.1B
1.0B
0.7B
0.5B
0.4B
0.4B
0.2B
0.1B
0.1B
0.1B
( 0.1B)
( 0.2B)
( 0.3B)
( 0.3B)
( 0.6B)
( 0.7B)
1.3B
0.7B
0.3B
( 0.9B)
( 1.0B)
0.7B
0.2B
0.2B
( 0.1B)
( 0.4B)
( 1.5B)
( 1.0B)
( 0.5B)
0.5B
1.0B
1.5B
Transportation
Health
Fintech
Travel
Biotech
Robotics
Energy
Security
Telecom
Semiconductors
Insurance
Home
Gaming
Fashion
Food
Enterprise software
Manufacturing
Mobile app
SaaS
eCommerce
Marketplace
Deep Tech
Artificial intelligence
Blockchain
InternetOfThings
Virtual reality
100%
56%
33%
30%
17%
16%
6%
5%
(5%)
(7%)
(10%)
(14%)
(20%)
(24%)
(25%)
38%
34%
(0%)
(24%)
(29%)
51%
27%
17%
(4%)
(33%)
(50%)
50%
100%
150%
Robotics
Semiconductors
Security
Food
Biotech
Transportation
Health
Energy
Insurance
Fashion
Enterprise software
Travel
Fintech
Telecom
Gaming
Home
Mobile app
Manufacturing
SaaS
eCommerce
Marketplace
Artificial intelligence
Blockchain
Deep Tech
InternetOfThings
Virtual reality
% change vs. last year (number of rounds)
Absolute change vs. last year (in B)
Heatmap of 2018 venture capital investment by
country and industry
12
Source: Dealroom.co.
Number of rounds in 2018 to date by country
Europe total
United
Kingdom
Germany
France
Israel
Sweden
Netherlands
Spain
Russia
Switzerland
Ireland
Number of
rounds
% YoY
growth
Investment
(B)
% YoY
growth
Industry vertical
Fintech
101
20
32
20
25
9
16
6
12
7
155
8%
2.6B
27%
Health
69
16
49
23
32
30
10
2
23
5
188
29%
2.7B
57%
Enterprise software
95
38
70
31
15
25
24
7
9
7
212
15%
2.4B
(15%)
Energy
28
9
29
6
17
24
3
8
4
66
25%
0.6B
27%
Transportation
25
20
28
10
11
15
9
10
9
70
32%
1.7B
169%
Security
24
4
9
43
8
3
5
1
5
1
76
65%
0.8B
32%
Food
17
6
24
6
8
3
5
3
5
2
50
61%
0.4B
(63%)
Biotech
24
4
19
9
12
9
3
12
82
28%
1.3B
44%
Travel
21
9
10
1
3
8
12
2
37
6%
0.8B
111%
Home
15
6
13
6
8
8
5
2
3
41
(16%)
0.4B
(39%)
Insurance
19
7
5
3
3
3
22
22%
0.2B
(51%)
Telecom
7
1
6
5
4
1
1
1
17
0.3B
54%
Fashion
6
7
6
1
11
4
7
4
2
1
23
21%
0.2B
(55%)
Semiconductors
8
6
8
6
3
3
2
5
2
28
75%
0.3B
31%
Robotics
9
2
12
7
1
6
1
4
7
36
177%
0.5B
447%
Gaming
7
4
3
2
11
1
1
2
20
(5%)
0.3B
(49%)
Business model
SaaS
163
74
130
69
51
46
37
19
18
10
406
24%
4.9B
6%
Manufacturing
84
21
73
41
28
66
11
4
35
7
232
60%
2.8B
69%
Marketplace
58
32
43
5
18
11
22
9
6
110
(13%)
2.0B
(36%)
eCommerce
22
19
23
7
17
8
8
6
4
2
73
(4%)
0.9B
(51%)
Mobile app
23
2
15
7
7
5
8
7
7
1
54
54%
1.3B
96%
Keywords
Deep Tech
114
29
61
59
25
37
17
11
24
4
256
46%
3.2B
34%
Artificial intelligence
78
15
31
39
18
19
11
7
6
1
165
101%
1.8B
27%
InternetOfThings
13
13
20
20
5
3
2
1
6
50
19%
0.5B
(3%)
Blockchain
15
3
1
4
4
5
5
8
2
19
36%
0.4B
184%
Virtual reality
9
2
2
4
5
4
8
(20%)
0.0B
(92%)
Total
440
163
334
145
200
152
96
54
83
28
988
22%
13.1B
18%
Investment activity by selected leading investors
Source: Dealroom.co.
13
Number of rounds in 2018 YTD by country
Number of rounds in 2018 YTD by industry vertical
United
Kingdom
Germany
France
Israel
Sweden
Netherlands
SaaS
Deep Tech Manufacturing Marketplace
Enterprise
software
Transportation
Fintech
Artificial
intelligence
Energy
Health
Travel
Index Ventures
3
1
3
2
1
2
1
4
1
1
HV Holtzbrinck Ventures
1
6
1
4
2
5
2
1
1
3
2
Balderton Capital
3
2
3
1
4
1
1
4
4
1
2
Northzone
3
4
4
4
2
3
Lakestar
1
3
1
1
1
2
Sequoia Capital
2
1
4
1
5
3
1
1
1
3
2
Accel Partners
1
1
1
1
1
5
3
4
2
3
Insight Venture Partners
1
1
1
1
5
2
3
2
2
1
Bpifrance
35
13
8
10
4
7
4
6
3
6
2
Rocket Internet SE
1
1
Intel Capital
1
2
2
1
2
4
5
2
1
2
83North
Atomico
3
1
2
1
2
1
2
1
2
LocalGlobe
12
1
6
4
2
5
3
1
4
2
2
IDInvest Partners
10
7
3
4
4
2
1
Point Nine Capital
1
1
1
1
1
1
1
EQT Ventures
1
1
1
3
2
3
2
Global Founders Capital
5
2
1
2
2
1
3
1
1
1
2
1
1
Partech
3
9
1
4
1
3
1
5
3
2
1
1
Greylock Partners
1
1
1
1
Creandum
1
1
1
1
3
2
1
Benchmark
360 Capital Partners
1
3
1
2
1
1
1
2
1
DN Capital
1
2
1
2
1
1
Mangrove Capital Partners
1
3
2
3
2
Acton Capital Partners
3
1
2
1
Octopus Investments
1
1
1
1
Intel Capital
1
2
2
1
2
4
5
2
1
2
Softbank
1
1
1
3
1
1
2
1
Naspers
Tengelmann Ventures
1
2
3
1
1
1
Nokia Growth Partners
Tencent
1
1
1
1
Qualcomm Ventures
1
1
1
1
Axel Springer
2
1
2
2
Salesforce Ventures
1
1
1
1
1
1
Microsoft
ProSiebenSat1 Media SE
GV
3
1
3
2
1
2
2
3
Iris Capital
1
3
2
1
2
1
Barclays
BNP Paribas
6
4
1
1
1
2
1
Orange
1
Rakuten
2
1
2
1
2
1
3
1
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