European venture activity in seasonal slowdown

As it did in the US, European venture capital investment saw a seasonal slowdown in the third quarter 2004, with E769.8m invested in 224 deals. This represents a 9% decline in capital invested, and a 13% decline in deals from the third quarter of 2003, according to the European Venture Capital Report released by Ernst & Young and VentureOne. The amount invested in the first three quarters of this year combined, however, is slightly higher than the comparable period in 2003. Deals completed in the UK Q3 were 56 compared to 76 in Q2, a decline of 26%. The value of deals was also down by 37% from E323m in Q2 to E204m in Q3. This is easily the lowest quarter for number of deals, and the second lowest deal value in the last five years of activity in the largest European market. France was the major success of the quarter with 48 deals and E163.1m invested, which is nearly twice the amount invested this quarter a year ago.

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• Topics
• UK / Ireland
• DACH
• Nordics
• France
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