Confidence returns to the European private equity market in 2003

According to preliminary figures compiled by EVCA and Thomson Financial, confidence returned to the European venture capital and private equity market in the second half of 2003. Fundraising across Europe in 2003 rose to E27.7bn, up from the E27.5bn raised in 2002. In addition, investment activity stood at E23.1bn in 2003, with 67% of this sum allocated to buyouts. The survey outlined a 55.6% fall in write-offs on the previous year, although it concluded that IPOs remained closed as an exit route for the bulk of venture capital and private equity investors in 2003, with the main exit routes being trade sales and secondary buyouts.

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