Insights: European VC valuations largely survive 2023’s corrections 👇🏼
Correction. The word to summarize venture capital markets in 2023. However, despite the large declines across deal, exit, and fundraising value last year, median startup valuations ended with more resilience than perhaps expected. Still, valuation multiples compressed and top decile valuations significantly declined across most stages, according to PitchBook's 2023 annual European VC Valuations report #europe #venturecapital #valuations
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Key takeaways:
➡️ 2023 was a year of correction, while 2024 will be the year of the three Rs (rates, recovery, and rationalisation).
➡️ The proportion of venture deal value with nontraditional investor participation slightly declined in 2023, but several industry stakeholders continued to tap venture markets for nascent technologies.
➡️ Unicorn deal value unsurprisingly declined in 2023; however, the aggregate post-money valuation of active unicorns only slightly decreased.
➡️ The median exit valuation sat at €23.0 million in 2023, down 28.7% YoY, with the median public listing valuation underperforming the median acquisition valuation.
👉 Full report: https://lnkd.in/eDmkGa2w
Brought to you by: #pitchbook
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Chief Communications Officer | Head of Investor Relations
9moCouldn't agree more! Thanks for sharing, Francois.