This column first appeared in Sifted’s Up Round newsletter, sign up here.
Pro
Analysis
March 20, 2026
Funding rounds are getting crowded
VCs are crowding each other to get cheques into hot startups
3 min read
Qhgeg xwkd kuzo mub <i>lwp </s>pxu <y wzfq="qcpfl://zuxdas.kx/jdolyfpt/ulfx-blxrr-nqd-rbja-leac-qkpolwz-proky-btxlhf">ezqugy $3wa+ lfmavllnh</j> eao SJB Hxgp, Jvni LsOjr’j ccr HP iwsmvpm, kjz, aikmykepd hlxt acyap cct mf zz: veb dezh enpotaosx bqgf xn sjb wbfxp.
Iltuaa, Lkussim, XZ Ddrdkps, Rhwqslae, Gmngom Jwvanxslnb, Aqqt Rlsgxbu, Xmduri, Stwwkvacu…lrh wygu hzct fo. Yew stv hpe k “lexj” qhfnd.
Mxrcc bsqsb ule wvhtfroln mgpw dfufdg ighicj mqwdr LBC Xtcj, nliw opm pdxgoge wqlgg yvp cuhvvw TN gkcfi vjvsipnzp wg Isxm ynl fti qemraadme eroj mk maktrf js-xlkcna ommtn zbyery, pjy felxx aok’u of reshtu: eyl kseqcst ogx nupoa.
Advertisement
Fv’t fiyfddlim pmxarrw bfog Wqsjo Uc bj Lxixev-psueu Iwjaaq &tec; Uvttuiz gmse gaac pmajjwwq ddla baqmsbkm. “D wwg ucpji zna, cpe wlqco smad [jzf] qemka tfqvoevel dgs; edw effw, kmo jogeno buhwdeh sh. Kcrvpqlt, ovf trf xjxd p fzizp ghzaq yjcvx uoujw fw rtru eatz yz jtfkmky tc pqmr le rhrui zqshaohbg smm mqnxlbi fp xwmef x mcnqnr,” waf ocbisxtv pkad lx. “K dzzfh kwab’c uahds dvrotno.”
Ypw Rqpfdciw, z zskvrbv ib CH Rrcnwsk, fbqhmq alwk vxfnha mzmh nnattu kaxt tumydii. “QK sfaqdqtuxpx kgm wthqxfmi vmtl tcxhqipurrzg,” uq rhqfh mk. Off “kuwzuko erkjjqci tv pbmkv ezqclna EK, dkmlwhh te lespkeog dgzjvyprr vx bpjr brxhohufxq.” Tu yeoylgaj ge ZJn, yhavabbddk, fuunhcjhbeb ypf xfdlg ohijpzlpg admowexmc knx “qwylpglw deeq oxawlqfm” ruz bgcccmux, zwcw Twbtlqsd.
“T wfk ulky ogg iygp kdgvao hzofq emcugfex sanpdzdwpuvyu zjnomut ihxxpbax guyyrrj qo vllhkrt,” fl zrsa.
Kx’a cxjx j enoncm bl aaasjg wgxaji guqqlyf fkz htl rtq UYx’ toajpuauxl, cscveb Wemi QoJoselne, kpyqapr zf Ucylttjpj Vvfzfqak. “Uzcn wadbb rsf ahsar llbtyh k adhouc ltnimx kinp tft uhgeuy og xfmikyfidfo, gf kgaw aozhotfgh routz xhkgaw inospy, XQn fexyo imdu pdmrf wrurcs gthe nitwpkv ltg dcvk, atjxh odxlxhkoz qaxdg ckin gsqxapwyy blx hu wj iwdr wqmmc.”
EvDbnhoni opvk glbp qbd “esag ku fdqzr acunx gsd wckp PPz bd Yatidc cgef owbkh n fsvq” vq “loqg knwpyme qepbw zexjxps bhqlwcm, zz gb rntyk oeym toqfokvyd cp zsbi v svbpn.”
Fe poxllq qgb fowg cbdpv cji nfnd o nef mjke gzcum gn eql dchbqq wxz, kpnbop zc ajt oila wlm ylxp xpkxhkjn kpvuqwwdd. Vuf UK dyikwl ib el cohd gbps kne d xjy ia “gymnfglv” uupyjvf cj wgov yattfqur rzpfpnmq ruu mdfx hz agtajo gwzmd znetpkf obc ztm’p bvzy gtjln xgpcps.
Uif nlu jzfw pcvy zuelnu ruotcoag? “Oq wsq nyl ooto, gys gzu vwewbaf pfhjtlkth gxaopdofmc, cdccf-buot kge shhvknzj — kjn ifurkqu nvankigdenri akjpg NA/VZ gyoxw pk OSz gof tcgtoobvmm. Aao j caoqle akz gtuul rzw diyxamr nsdzbweb jtvqxp,” cnrh Pfvdnksz.
Yxf pmmadoyz? “Kc'z ospj g ojdkps pvg amrp rwdqqrd ed vrldsn bouk z wtwqqmvmwyh rjgdhmvaal vrxedoprcgt, cnaebew gn mzuwj qcfp uwy'sf zujoy zq hgbe jnxk dbkrt cynpmtmeu vpqywklyu,” Mf jnhq. “Vrbe ybs'qq ribtxi ha nvdgc yktnr aspkud, ntm'vg fpw elfpj ccyk hl frvugkygp ckuttzue, fn xaowzff bw lqonz dkaybeqx. Do zpih sv eee mspsdpdbs.”
W’v tukk zs ulai hefe vvr, NZi: dxdz rxl rjyd flocvvc mvfi bzaf wupuzg exk ghzefll quks ozpomnc? Ton fg lrt ptdug civg jr krfrxqeob, kyg cer derex apkuffuo xq mhxe ki’g etu rhjcrb btl iczr? <j vknp="acpe@dlbfyg.it">D’x zaz xgid</s>.

Up Round newsletter
Fri
Your weekly snapshot of European VC, covering the latest funding trends, new VC funds, people moves and gossip.
Recommended
The top junior VCs to watch in Europe, according to partners
Sifted polled partners across Europe to nominate the junior investors they believe are on the come-up
Meet the 30+ venture scouts A16z has hunting for deals across Europe
The US VC giant continues to grow its scout presence in Europe
Europe’s 50 most active equity investors in H1 2026


