Slideshow: Euro Venture Fundraising Takes a Tumble

European venture fundraising figures were down 15% from $5,765.01 million in 73 funds in 2010 to $4,923.05 million in 46 funds last year, according to data from Thomson Reuters. While figures were down, there were still some notable fundraisings from well-established European venture players who haven’t let the economic crisis grind them (or their coffers) down.

Germany takes first place in European fundraising securing $1,531.28 million capital in 14 funds in 2011 compared to $999.75 million in 13 funds in 2010. This was an increase of 53% year on year.

France came in second place in 2011 raising $1,016.90 million in five funds, up an impressive 204% by value from $333.99 million in 2010. Although by volume the figure was down from 13 venture funds in 2010. The 2011 figure was boosted by two CDC Entreprises SAS funds the $573.15 million Fonds National pour la Societe Numerique PME FCPR and the $259.14 million Fonds de Consolidation et de Developpement des Entreprises.

The UK ranks third in European venture fundraising in 2011 remaining static in terms of value at $971.32 million compared with $981.81 million in 2010. By volume, however, funds raised were down by almost half the previous year from 11 to 6 funds raised.

Landmark UK-based venture funds raised in 2011 include Scottish Equity Partners‘ Scottish Equity Partners Fund IV, a growth equity and venture capital fund which raised $290.25 million at the end of last year and London-based Cleantech specialist Zouk Ventures which closed Europe’s largest dedicated Cleantech fund Cleantech Europe II on $257.62 million in June.

Dörte Höppner, Secretary-General of the European Private Equity and Venture Capital Association says a notable feature of the fundraising environment in Europe in 2011 was the reduction of funds of funds as a source of capital for new GP funds.

She says: “Funds of funds as a whole have raised less capital for primary fund investing than in previous years – a reflection of increasing competition in the fund-of-funds market and a decline in the number of investors seeking exposure to private equity through funds of funds.” This, she says, in part may explain the shift by a number of fund-of-funds managers away from primary European funds (and especially riskier venture investments) and into the purchase of secondary assets, infrastructure, co-investment and emerging markets.

Take a look through our slideshow to see who came top in European venture fundraising last year.


[slide title=”10. Partech International”]

Fund Nation: France
Fund Name: Partech International Ventures VI, LP
Amount Raised ($million): 135.00
Focus: Internet services and information technology in Europe and Silicon Valley

[slide title=”9. Digital Sky Technologies Ltd”]

Fund Nation: UK
Fund Name: DST Global II, LP
Amount Raised ($million): 172.05
Focus: Internet

[slide title=”8. Holtzbrinck Digital GmbH”]

Fund Nation: Germany
Fund Name: HV Holtzbrinck Ventures Fund IV
Amount Raised ($million): 229.57
Focus: Early stage companies in new media

[slide title=”7. Zouk Ventures”]

Fund Nation: UK
Fund Name: Cleantech Europe, LP 2
Amount Raised ($million): 257.62
Focus: Cleantech

[slide title=”6. CDC Entreprises SAS”]

Fund Nation: France
Fund Name: Fonds de Consolidation et de Developpement des Entreprises
Amount Raised ($million): 259.14
Focus: Growth capital

[slide title=”5. Scottish Equity Partners”]
Fund Nation: UK
Fund Name: Scottish Equity Partners Fund IV
Amount Raised ($million): 290.25
Focus: Growth equity and venture capital

[slide title=”4. Deutsche Beteiligungs AG”]

Fund Nation: UK
Fund Name: DBAG Expansion Capital Fund
Amount Raised ($million): 335.47
Focus: Expansion mid-sized companies

[slide title=”3. High-Tech Gruenderfonds Management”]

Fund Nation: Germany
Fund Name: High-Tech Gruenderfonds II
Amount Raised ($million): 409.22
Focus: Technology

[slide title=”2. CDC Entreprises SAS”]

Fund Nation: France
Fund Name: Fonds National pour la Societe Numerique PME FCPR
Amount Raised ($million): 573.15
Focus: Growth/development capital

[slide title=”1. Index Ventures”]

Fund Nation: Switzerland
Fund Name: Index Ventures Growth Fund II
Amount Raised ($million): 691.66
Focus: Software & Computer Services