European startups raised $5.01 billion from venture capitalists in second quarter, according to Dow Jones VentureSource, the strongest quarter since the global recession and probably beyond.
Fundraising also jumped and venture-backed IPOs saw a solid increase to 17 offerings.
The quarter’s investments rose 52 percent in capital from the first quarter, though the number of deals fell 10 percent to 528.
Late-stage deal making was particularly strong, accounting for 36 percent of capital placed, while investing in the United Kingdom outpaced other locations, VentureSource found. The United Kingdom attracted 47 percent of the continent’s capital, despite the prospect of Brexit.
Germany was the second most active location with 21 percent of capital.
The quarter’s top deals were Improbable Worlds’ $534 million funding, Delivery Hero’s $450 million round and Farfetch UK Ltd’s $400 million financing.
European fundraising was strong as well. Thirty-two funds raised $3.35 billion, VentureSource said. This was a 32 percent increase in capital from the first quarter and an 88 percent increase in fund closings.
The largest funds raised were SILK Ventures’ 532 million late-stage fund, Cathay Capital Private Equity’s $308 million multi-stage fund and Iris Capital’s $291 million multi-stage fund.
The European exit environment was a mixed bag in the quarter. Although IPOs were up, M&A activity fell 2 percent from the first quarter with 61 deals of venture-backed companies taking place. The 17 venture-backed IPOs represent a 70 percent rise from the first quarter.
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