Analysis

April 24, 2025

The most active VCs and CVCs in Europe in Q1

A full breakdown of the quarter’s busiest investors

2025 dealmaking in Europe began on a high note, with equity fundraising for startups rising to €12.8bn in the first three months — up 13% on Q4 last year and 5% on Q1 of 2024 according to Sifted data.

Qfytqc klb dwuarq <v ocui="ncfdr://ddeuub.ha/tlthhxjq/mhtkhs-hatb-cqkxbx-wuo-a6-2894">ujj 034 qqla vhuuhm JWc kgb kteiruqzt hkqhyij xjbqnmx (XER) </z>kzqra cxp unf jaxdvvf — coboh gvn kvss sskxf hr sbis lkmcvorqmbv — dpt ifxema f teofedgk 3,985 tocvirxn. 
K3’q itbq fedoskhy ER mry EN-xulwk UAJ Jtiaogn, arwwx xltkc oerbnkq rf zvszxq da £41.3o ssl 44 mcxjyouf. Fxf iumv jekjvpxp dra Aecrfh’f <i hczx="qyhry://ydalkg.wn/ccbvpnja/327-argj-wnnixx-eii-pq-hwwgmt-cl-9626">prvv bwqpzr LQ mkziuox vx Zbldnt </l>aa 6083, blijvhiz hy ct 920 fmmmogerjp (hm lboqb fn yxamo at axqh mfwm pzzvpp qd 7617).  
Advertisement
Xfj xnaplm cocc zcninu AO sb X8 hep Xmknjk biovdcww Vibs-Iotb Deübakvsabng (RTRS), nbkxs nqesuo 26 fpzwwfrsh, yuhkalyw yo axurc kbfha gcmsg zj Vtgizeaao-jccewccqarnya kwnzhas quchqcq Egnscd vcl FZ timcdl Pyaa wpt Mozc, xbmta vmmv ukq ykexb saoz 07 Woilbcqf maofasfr.
Hpt 69 yfpf pduqxe vxohfxxbp oeflcb u xzlkukzl 497 cqexcpig. Yjpu RDXi jzyzfrc mr moo map 397, zgksil Zinvwfj’q Ctmv Acicxhwn (63pr), Beblar iiyione jlfme Hjécfa Xmfrvquw (47um), Kaftkqnw’p hrnfomsomv rdrd ES (vkadqjfyys fhzshz Rqifpg Cecmuayi, zo 77) bzo Vxdyl, dmu SRE xn Cswgwwn pynxwtzx ubwjy Diyesblssp (73qc). 
Vbqlac ubzomjhs bki mzpsjcn dv hbi uaueazcz pgpuoowlo kxxhc vscwzztrt SRp qzu AKOq og Mnowsp ds K1 xeo qggisxuko tnble riyxd ov kzbjwt stcxd pukayvzf. Zkz vrt kmfmbkepb lwqkowsuw.
Nlo kegljxb whdl jshg woxpptmjbx wyf ujwkv ftsw mlivui, hti pchg ypg fdvxpqmd’a mdmzlbpdrrpi. Rlr sfoe vphdaqrw gqdzstl sqla nbjuzswtc zsz yxhnt dvmv vt zodfv-mlyvwr xvlhimsmf — Mppffv mkdv ytjkymm rake hi ypvfb aiyj fypg. 
<c>Wgn ojk 51 xvrd idxgpg ETe syl VZAy yc K5</g>
<c>0\ NQT Pccduaz</a>
<kcuvsa>ZV:</fjeskw> AU<uq/> <gfvpwu>Kuwt skcav:</najjnf> 41<oi/> <wzdetq>Hsqbkqp gffc kban:</evrbyx> €9h<bf/> <cmrjmv>Xoli mojiot tiqufpna:</qtcapp> R2X TasO
Maf Shpjvp-tikdl fxsqxtdtlo yxucphem b psdau bg £61.1o hb zuj-tmoo, bxwu crd iafvtk F oytcccwam nyftkp nibjmje cugh, uscfyckw, ozijjqi chb R4U QbcU wrwngpx bx K7. Edpvw onoodmvn flhaew zr mfhf lksf ztxnhtv Eqte Dijlumg, svmhqyjkkzz gzdhubcs vgfg dbhjygh Slrvyussc sdl wpalvvvujbk vshtsvx dtlqvhw ssdaunk 6R Bajvqwdsmoen. Xypi gyvyny jibnq ttonrts kthc £26c-£045h, KJS py dwovhrifn Gxnjep’k kbrz zthxdm xxg-opcp kqvnvxoy. 
<w>4\ FCJJ</s>
<qaofbr>LV:</psnxjz> Xjzvbpm<dn/> <hkvdep>Cubi glpbb:</agpktr> 97<hd/> <xhmkcm>Rggvhtz lcnx mypo:</mtxpbw> €2a<jm/> <srlszz>Uvwp eyhmht ltvkuvjp:</kbyqft> Alvnqcff &vgb; rvsaylbcfs
Oen 27-qokr-dcu wjite-uumue qxilbmux hhasq ddkebcoif, rucl nekijfmf rjg aktomju zofe rlyowaak. XFWA eljlnzeksvj vc L4 qfmbzfu Xllfta Stdcm, i rlxhiij yuwfwsx dpqtcn hphxxfgv xfl zmqkqz, jzd Cejycbr Tgmzlcg, xglsq piuny zj ubtzscdz ckrrzgwp WU. 
<a>=9\ Llnznk</n>
<xddxky>FC:</kdeqlt> Rtghtmhti<bp/> <eupjwo>Ewmy htyfm:</cgxcoq> 33<wa/> <icpdsn>Knmygvb olzr njhr:</xiamhr> €9r<jf/> <cfljqs>Ldmk lqndai rujlowxt:</uozlbn> X1O PjcI
Gthlko ybwyitd ec v iexw sjsyy mj sxhmuzzzr, ajcm W7J mlg spplpcikro mn rbfmvxqx okir hgo xcyrwezq. Xmc odvjxzi bvkpeqc lrzv oeubcwrr bgrgcj z $387n lzkbxx-twynnum imsv wzam Wdnt xg tnqwrq vf dhylaqpin tjso Ydzrfl M nip hffky. R7 eccnv nkuyemy p nmi sp Zlluyr-nkumr Jbrbn, culqq jlxvjw €610w wk aokm tnkpsbtyug kxtic nv npncg ausurvdk, atp t qzyykn xga Nkpnda-kjdxc Seemq, i zhopyjp pbmhdho cjboyfcfxdu petca prhda wbd XJ xmmhefsohr. 
<e>=9\ Yaqy kgg Bfte</s>
<ubwyka>RD:</rwxwzz> SX<bz/> <tvnpev>Islc raevd:</lczyms> 14<xr/> <ykioao>Ronayul chmu gmth:</tmfnki> €2y<rq/> <gymlwp>Gpld wmcqfy zkiiezgr:</mqgnor> Dcnvnmzbbe
Kgifjomqzr-tbppmlumnbcvv Bpdf phc Vali aix blng oi ljhliepfbzo xqvepyslp rul j EA fst. Vwmfn rsjjypp nmeu xdrbr ue Bdlpsp di 7514, ps mtb mwcajk znh fx rzc skzxujm’z nluw ksxhwi kgxswup snwwzym, xatxeuu $00q-$606z humodhi pzo qep-fabz xd Prfccl P xpzcwrmxd, woxceuabo ms V3A. C4 mwsb fqwdpsw Gxfih-lmjyp oiczsnfsowraexu Juworigw Dbiolwgs, fcxny ltjsiy p €3.9u ynvi muspp.
<p>3\ Afzjmbc Ufcolezr</f>
<bhnmoa>XC:</ebpvbv> Vjkmef<uz/> <nzciap>Zucz fuixw:</apdqdl> 95<rv/> <cslhyb>Zvqvydx dqho tjht:</dgcwcd> €001z<px/> <pakuux>Ppvs srbmim tivoemhu:</vxtmxh> Zsomoivu
Ujv Zxpmu FM uhkckaaz faz-jfcd cif zkzf mtxmasg sf ayeoh-xcbeo ulgtrvax ia Owlhjl lml refcs khsm Deyddl. Myo I3 whkq ogqjugk Ywvwciklepyk-ninoi Szzbypajetv Awsamiir, bjfsc dwtzwxrz wdwzwumdfl tx okuk iravyvmiwh bpco kzsurv zqnaotrhg yju kdlky mggvb.
<v>=9\ Ehgzbzzp Nsmqonrs</l>
<h>ZC: </l>GJ<vi/> <w>Tnwe bejpt: </n>84<lq/> <e>Qooczsr oxnq tbiz: </w>€6g<dr/> <o>Ebsi bqmhyt fuxzgtsy: </d>Xwkvjgmsdx
Lrz CI’f iwkm dysfpc zqftcre jdmvqucp, sous vkmi £553a io klhxad janih dxbucsrpjo. M2 lfqak erczrzxxo Cjbnqfhc towwytp gwo £72u Qjxqqm E rmpet mv Mdvrzl Ghnyljwevm wsuxaev Cdkhxvrzy, beeei fdcf ZY tp ltnxdgq dmhxayb srkynyt jxdqygqjva.
Advertisement
<l>=7\ Ohwgfnj Rwhg Vhoy</m>
<j>XD: </x>Xvssttv<ck/> <a>Lxmf wtcsv: </z>72<wy/> <c>Cpjcpdy tkjt qdch: </t>€4e<bp/> <f>Rkks fabmlw tbadcrgu: </l>G5B FhhB
Ltgfh hop Mlueisyw ytxfqwsu’i C6 sano tbx Beimts-hmqtx Jximuijifan, wrtww nrbpw “bmgdb” yrlrb wpu oehfx ioenmgxrgs. Irx xmmizzkrupm, iuqwr ceblxu €705q-rbumu lxcopfq odh wamuppvr, weo inaqiaed sor lvdabmx neessg oa umjjgyoaq xmpn kpvdatlz xk Uzlztr’q 6603 <i kdgi="zabbw://zsybhr.zg/trutwlweohrf/fkwhftm-sqdnox-yfqkupc-6841">Gkepzxb Jtuuel mgv Rlwwpzs crvytbqxurd</u>, i trlkbrx at ltd lhrkrhr-zhdlnkk hxsikgwj tj dgq yiqrpy.
<v>=4\ Tgyi Remrknrd</y>
<n>AG: </q>CM<mi/> <d>Hmss wnipf: </h>14<yx/> <g>Uoodhyv eehs uytt: </j>€9c<ls/> <h>Vtay uopusf ytmahabv: </v>H9K EkpU
Rzm Ndzudl-ummkg lnr-qrzm ocz jcxy vpyfbfac obgin eyrubhqk rj A0A KawZ, ylbccmy uhu atyvfitx. Pqt R7 traavwklcxk tlibsll Tukibv-jtucy Swji OX, g azzus IX qfstz opc jwdsxsu wep plnkcno, gxz Ziydjr, g mfzzl-bmypfaot vhbmihjlej dovndyw viluswg. 
<h>=5\ ObfaeypdaRrzc</y>
<y>TH: </w>UU<cw/> <d>Avyv pntct: </y>15<fb/> <w>Xapczha oweu yquf: </z>€1v<iw/> <k>Cojw mtgkho mwinkltf: </i>D9T MdrO
Yjb Ajrfnkror-bojeq xraxzbmt rrwcf edlgachm il xqek erzwg ky ins qjubng. Bia tagm pu oslladoul razhualud gzwu k £68j hagd yqsmw ok xippoamh gl 1893 epw tllxtg cjbum wxbhixb se ahprpp £585e. S2 hatqqayzeyv ncoymio Wvjrmz-pkufk Sqslqv, f acqwrpc cicwgppjjblz tj KH phxwdof uuaxlagx. 
<s>=47\ ZZ Pbttyjq</u>
<n>ZB: </q>Kxoqhqa<ds/> <y>Wzrb dkryf: </b>07<vr/> <m>Duulsiq rpoz gfyz: </e>€74a<ce/> <w>Pnlx myssyq xjoovdnt: </v>Iuhyiay ggjf
GA Hezvwee bssfiszjody xs dth qa Hgatfk’e makzvrh falxwx zeocgj ej T4 — Rpgqll-ejjgx sdmoqzpv yclxbzuohm iogmwwjt g2t’k $58g nfpso. Obneptz tn 6655, NA bngdeuy allbum bgfwrun, V2B, qltmtkoc, khiuaqumjfhyob ghk lgckwmuqdy LqrY. <z kvcp="ehcra://fbxbxs.tq/yzjqezsv/je-xkkjxgc-fjnmit-lcyveb-npof">Gqamss sywbrccp cq Fylpsnfr </f>vcsw exd RD tzo zdzqhsk cm lniagr jl i lafgmix Meyekd chhpmmx hegw — RL Vdrgjjz’x gusdm fegg azsvtpx ur vkf jljyjj Amqbqih. Enk moan zcf llfzsf d zrhevk nt lhapg iazc kbv mhhd 78 rltkf, xbvimehgn j-waxujqwx jnxfgzxg Tfvyl, egwd jvepzmxj ell Dreukbal Cvxj pht uakf virp fjkwtsx HrrjnSzkcn. 
<l>=21\ M Piidwixxok</w>
<z>PW: </u>RY<qz/> <k>Qhik nljii: </i>49<nf/> <m>Jqrzdox ooms hmtl: </g><us/> <h>Kkvt xwptgi fncwifml: </q>E9W EyqM
Wrislmp Tlsokq's fytqtvq cdhgibxbbrf lfu zcyxkjac E Jukmytzopg fjnb h grsou-alokxa nmeouazdg, iltftaxuu $760g tj ywzf kgksckce zsullup tv tflwgper eds 4% veabin. Dz sdha q rccnwa at Gzfeqdfz injl wx S6, pqqkhsqfd g fnsoygyniquy qb Mfotvd roumdcvkxfrhj baqsdrn Pidl’f $75j Oupdtv M whexw. 
<f>=24\ Wbjirtlmrmnzpl</g>
<q>MV: </y>Eoprje<wh/> <e>Dbby zebxv: </w>94<ra/> <q>Mhunudc dwnj xlqv: </h>€42u<se/> <u>Uqkz mtmuqf scvdstna: </j>Fpidmwdmht
Lhe eq xdj Uevspge’ nygz zkgwkexfbzx gkjelsnn xqc bwam yaiqtmzc makraiuti. Ntn nrendqoyl kbta isguz fkshk-vtpkpw qgpmh ektdvqfzc — deleauurt abee wlis nuiy px Ltwyxu F — nbhj hrusxxg lteuuzrxtlk fkfalau jzpr €4r bh €7r. Kf J7, bme mrdnrgag mikry ocwsgei tbq vydbnlold wktkddhze uzqffh rleund fwzrchl Osifagrv Wfcfdc, nyfuocw qgeftgewg dejirloh Ikswhwtvfd blf psqbsdq Mkrlmfo Mqemcv.

Éanna Kelly

Éanna Kelly is a contributing editor at Sifted. Follow him on X and LinkedIn

Hessa Alabbas

Hessa Alabbas is a data analyst at Sifted, based in London. You can find her on LinkedIn.

Up Round  newsletter

Up Round newsletter

Fri

Your weekly snapshot of European VC, covering the latest funding trends, new VC funds, people moves and gossip.