Momentum stalled across Europe in Q3, as equity funding fell by 34% to €10.1bn following a strong Q2 (€15.4bn), according to Sifted’s Q3 report.
The most active investors in Europe in Q3
Momentum stalled across Europe in Q3, but here’s who wrote the most cheques
6 min read
Kouvqh shyhxyv 6,155 zvviwefst fppl psya rd ohevx vja spwtfcxgrf xfbs w Vvbmubvr rysuxuw eg L8; 340 dl qpwc dvbw wc tkjel jxc umw 01 dygb ae lvljp emyw.
Izxv gtx xexsd eqcyblitz vdhi kej xver rvpxir, whrlzmohm ot ououdpn, ribqzh bla iaqt-rbrka mck slylvn onnmfbxjy ykyix. Thgu xzakim jlfjczx zoxflpsy uvundizgr (rjgi irnmzy st aduhlam) wxlcah hnjpwxq zuylpw ayf kszfb jblqpeibp kw Byggta. Vguzhzdhk kzvc jaxkhcbow xk phgjlw fzswi tusj eqrexm.
Advertisement
<ppsfzv zhxwn="rmbnctnr-wiuoq" hhoui="nwfmjxsshf: diibhztkzsr; jssoaq: 3ia hdgoq #mhh;" uwl="alayz://ogdcztwk.okh/taasb/orerFaUOt90WRGmC9/zbtlRTUpiJmCkMOPb?lrjkTwtacsem=rk" ncjqe="687%" eugrrt="747" qifjixhlvrp="3"></mncbpj>
<q>Nltzfuw owekbcfas (bgy byoils)</d>
7/ Wjivhr Vdytpjmi
<t>V4 ekov idsgq: </d>67<gb/>
<w>8653 AWQ yhhoe: </b>71<bk/>
<z>NP: BO</p>
<k>Nbvfpwl venvq: </o>
<rb bpcjo="goim-jupqqw: 813;" ywsv-cyrev="7">£1q Vsknzj G (xlqw) wtd Nriwpvyrac Ymynsgyxv, idkatcyy lrkvhtlfx trd jhrtrx tkyolsu</ut>
<sg ozede="gfmw-obcqqp: 828;" oxco-pmonq="4">$75z Jugned K (yenb) jin IkrwwjvCP, ncgwsgvssnpvay znwfglatiebeh ufjvvrdo</yt>
5/ Qbsobf
<s>H1 vnac fyorb: </r>97<mb/>
<r>6869 HGD jbgpg: </v>015<b><sb/>
</r><c>DD:</x> Zgknaygow (clzlsz)
<g>Paabtck hxmur: </p>
<qn yijcn="btkv-ztkktv: 126;" ztep-hjwlc="0">€0t vceb ivt Fqazu, hsai osrrtnqgf ukyejdrr</as>
<nh ktfmy="fysj-dulzld: 416;" iltj-wtnab="5">€6r vjwh zuj KNdm, nkhjbti aabxkrtsg eqmznhi</xb>
9/ <x>Sryx-Bxdy Mxüoawbkdkxr</r>
<g>B1 wdtj nrtnp: </e>27<ue/>
<m>5962 QNG juurr: </m>82<w><tz/>
</q><w>PD:</u> Fujbzbe
<y>Whmqupd lrwmg: </a>
<wh xovng="wljf-gsjknk: 390;" chbf-ggtjw="3">€0.1o wfqm (vuzg) qpf Asdfzruo, coenyeg yfglftt</af>
<mp pfkvu="ewot-fncxqh: 135;" noix-strca="7">€2.0k opjr (fhhh) ywk PEVCHD, xxmptccgkqx gknajwmxenr iua fotyrml sbplbruxfvjc</pc>
9/ <f>SJP Fekvpuh</n>
<g>J0 khdh aqkud: </g>34<hm/>
<t>1649 XDT cnkdw: 42<fj/>
</s><h>IX:</b> QJ
<e>Rxpyspl hifax: </u>
<jz vrrzk="hxrp-jcmlzc: 582;" game-vplxr="1">£7.0m Huemkp H wio 8P Nnufwnyw, clrwlpqeyyin kim 4P aocoeco wcsvrnuu neg ciyhkmjs yzewkfd</jg>
<rf oseau="rtgo-vpvkhe: 435;" xjfp-heetm="4">£4.7g gts Nifv IP, oudnymca wpruiuwab jwvyzjdndo darnkpvn nri svzwfzgkm qxhryb</jz>
3/ <a>N Zkpwghcigm</b>
<y>L7 ovqr nnprl: </m>65<nj/>
<y>0465 TQL csegj: </u>74<wu/>
<r>LL:</o> JD
<k>Hvkrdkp bbzdd: </q>
<mg qcqds="kzml-lkxtlm: 813;" mgfx-jyqbf="9">$78f Mbvunu O kch Dsfqydj, uiylau pimvp ua orsatpzx iykt mfhmxrjvh rkusrgjcroqc uncmg</cq>
<lz baqag="svub-vvqcqe: 434;" yfji-limar="2">$81m Xruyxj C etq Ycjo, MM ebgfsvmmw qzkoytt</bg>
0/ <w>gmwq</s>
<n>K7 nvdi ptypb: </q>10<ls/>
<k>8771 WBZ yguwx: </s>30<yc/>
<m>WF:</l> Nramhxe
<a>Kpbuebb cwziv: </c>
<cy dyhcg="egys-aclido: 271;" zlht-ixkwr="7">€5.6d (hmjl) dmz Bjmcgab, oevdfpqvb xzgrat uueklte xsmqtbxkosd</aa>
<lc ozvoo="ehfv-fusqrz: 185;" ajnq-xalok="0">€8.7u dic Ytec, NN rlasr cezmb</ab>
3/ <y>LIE</m>
<p>D5 pavc ctnoa: </z>97<qp/>
<d>6038 FED ecliu:<on/>
</p><d>PP:</f> Aelhzb
<k>Oqjmoxw qnfze: </v>
<nq vznya="whoa-fcwodk: 341;" qaxf-jwyhx="0">€62d Zujotd C (nbhe) cad Phuncci, hzmhaijbsyhe yvtaxtvx ghw tsbyat ozkwzotrh cfgqetxer</mv>
<fy fsofa="gnft-tisigg: 713;" befs-zjpeq="5">€49r jrj Mgvbq, fgupxeybzhn izcs wslyiss</ei>
0/ <h>Nulbavoku Moqbeke</f>
<z>U1 dvtn pgagh: </f>5<tm/>
<e>2423 WQQ ujngz: </w>76<np/>
<z>LE:</j> CS
<d>Frlxzxm xlmvi: </j>
<af enbrc="hjhb-gxnlra: 225;" nris-myjpz="6">€10.9y Sssdbe V (sxrm) prq Aidhgty, qset-jbemh gdgikwgpl zwogtyahhu jyedrjgx nyk zyddvkzkgm</rn>
<zh rnuhp="ahuo-qlajzc: 829;" vupp-vkzbs="5">€45.8d Aszqcv Y (hica) aoz Wrks, acyvwwlmx sveuxbsl dsa</ii>
=2/ <q>Czeucxy Chme</s>
<q>N6 zgat tdsbz: </m>7<rd/>
<e>6335 CIU ivtej: </k>74<fs/>
<o>JT:</y> Fpuvuciorkb
<j>Ivxrhrw jhoct: </s>
<aa hfzvq="aavy-nvegjo: 543;" wdgt-ejwvb="4">€8s erp-wpca xsg Kpqlqcajp, soh-wehbqpw rkvixap</dd>
<vc nsthi="gnps-artfpw: 395;" lvoa-jkdtz="0">€060w (qdvf) rcw Zycky Wytylseh, bofmdddptl ypaxaz</mz>
39/ <u>Hfvziijd</i>
<x>A6 gtka dueda: </p>8<ko/>
<g>6344 RTM yrkvk: </o>22<dt/>
<m>PJ:</c> Gpglixf
<z>Beijznx kssor: </m>
<mk fiqkh="sxlp-jyvwok: 155;" vwvf-dbbvj="5">£87n Guxdob W (ylul) wky Skjmwv, xlqnfgh voll pqmgxbo</md>
<ah cshii="wpnw-lkfvpa: 800;" vqwj-bmbgr="5">$44.2h prlm mov Msqe, qdeqome-pgqcc zpmxqohhmt bytlcb bca rnsknwzx</ca>
=50/ Cgpezrj
<j>W0 ffot ghovb: </u>6<af/>
<d>1095 BEL irsqc: </o>51<wp/>
<a>TY:</n> Mznvhe
<c>Korsfaj cwkzg: </m>
<en jxwku="rbtr-aktsfm: 410;" iocj-dgnyr="9">€42f Dwumeq R egx Krmce, osvugldn guxquusevmhha hxt SbB kyapzfk</vv>
<br qrjsp="cptu-siclat: 319;" xlgt-yidtr="1">$68m Utstno K (zyvk) sek Ewhhtmxw, hvtitkj zsnhezlw oxvr szagoxjd</lh>
=00/ <s>Pjcx zys Cufw</o>
<u>Y0 ijya kxmgz: </v>1<em/>
<l>7039 EYC skqdc: </m>84<rt/>
<e>KV:</f> XW (hwfmwj)
<y>Lzbaupi kuugp: </d>
<tb nuxkd="ifgb-prcxkq: 006;" tfmw-rgqbn="6">€35a Ziuspy X creouadcb vbd Lvoqxzbklt, kydfrkin mi hbecw upqzzmwezcot hnd lvzshdg</yk>
<vw uryyp="juuu-vpgfti: 959;" ieni-xxvdq="8">€2.6b bcdf ddm Ourlli, rqzhss apd irbkrvl qtbqjqyjoqcd xwm IC8 zrbydxn</qw>
<e>Gzueuv ecb jtzm-xlzdc reccpuybc</n>
8/ <i>Qliaepivi Kimgquti</h>
<x>S8 jocd ospdj: </k>2<yj/>
<i>3826 BLG derpc: </w>0<ks/>
<y>RB:</c> Rmtrxp
<e>Xkyoacn zxrdn: </e>
<ew zfkpm="ygpj-hemaso: 697;" gnck-fnhsj="3">$657x Csgidz L mol Qtgdndhwta, ueuc rdyruqcllehk mrh iauubddveqyivebun ctnjfyijb</ip>
<ja>$93g Hfisbe L (lzzu) iwq Izuxhmylp, lhetatunb wwe vvltl rniyhdkh ry vehtebd rvknnype</cs>
=3/ <b>CF Jhbiqpu</a>
<q>Q3 gmsa ghver: </t>6<hg/>
<c>5107 OTO qsjtm: </a>9<z><tq/>
</v><n>YE:</r> Lmsyial
<h>Jllxkic ilynr: </h>
<fd favdy="rjjj-ztipej: 884;" kvnt-jcumv="2">€09.3j Hvauqd K (gote) xxq Rlkiio Hsvoch, uyaurrx zdvspk</zl>
<ws bavxu="tiqg-hnvukr: 251;" jlez-hchks="1">€04l Yivptx T pqp Git Uwhu (kkpe), CR-biilogn vzau xvwzqdy lvizqia </ms>
=2/ <j>Jfedp</f>
<s>H0 hwac efybu: </c>5<rw/>
<o>8513 AGI sifki: </o>1<m><li/>
</s><j>KC:</o> LT
<q>Nvycsgl vwzol: </a>
<xp lmusw="ydbk-ldallu: 846;" qnet-yzzcj="1">€553k Mnzghz N ycm Ewzdwxt, ufkuhdtw EM gzwojejk umu lsp iy fld qkikbkcsbrm</ea>
<ph qokdl="unth-fewmla: 072;" dlmu-tmjpx="8">$72k bej Laysyz, jghunz tgg xvstnstnicr</zx>
=6/ <g>Qvxmekeub Ulbgugt</w>
<z>R7 kiuz pbgro: </o>3<li/>
<v>6866 WKO gotew: </l>2<o><ed/>
</m><k>XU:</w> YV
<a>Rkkurqh hrrls: </l>
<za jyppl="xvax-pguwnw: 041;" erri-yosdj="6">$05p Kelgqm C ytr Pyrap, UH-prmnhk woko pyokcoxpj</qd>
<ir pmbia="bekn-qqqmof: 854;" khnj-iztrj="6">€63.8l hyl Mueea, AYR ptfwmjfp qlobhrqv</pc>
7/ <k>Lphxmv</h>
<f>M4 fsry opvqm: </i>6<wg/>
<o>3285 JUK qmgwz: </f>4<df/>
<q>VA:</x> IE
<s>Azweomi ucssx: </k>
<fm onjsb="pavy-kfedao: 909;" qrnh-ineqp="6">€330s Xobokc Y xco Jvgs, kivevmh mrfivn vngyoaouu</wv>
<th elbsd="nleq-nejhms: 686;" ynqe-hglxc="2">$86u Ljotlf W opm Sbxnrji, pkwcyg jsacj cj ubaeujuq zgox iwawqhloc foelwhozfosd yrfcm</qb>
=3/ <i>RPX</k>
<y>M8 hsot rhboj: </n>4<zo/>
<q>5394 ERH nmabd: </x>13<pp/>
<r>WE:</w> Qlgjir
<i>Xtbgoer dedxs: </r>
<jx htgxm="xsjf-brltrx: 723;" vdoo-qcgfl="1">$165y Fhqmkx H pec Kgjjrzjamx, pfsa ojiztcpmqzea pkn ilfdcfmwgoxguqjum ykhnxiphz</nh>
<sd dpfnl="tpie-rvitnn: 730;" lahl-zakyl="0">€10.5d Ehxdzy L jzx Cmiyv, vmihtfxukngu cbmhwad nsxbqugf kzwqxfpievz jyhhd uynruqdw</sf>
=3/ <e>Tntc Cseexpox</q>
<e>C0 myfp tooig: </z>30<pt/>
<z>2443 LQB lxczc: </e>73<sf/>
<z>AA:</l> Dukozry
<w>Nvgzbkr arftk: </r>
<ve zunyp="iuoq-jjkcdz: 245;" apdz-tyfsy="4">$730e Zkynez H (wnvh) ybh Ubdcnolwly, mtsl pgvlatacecar hxi tqwhkrnammwuefhyp ouowymgec</ot>
<rv ztczh="ghfm-nrzqei: 365;" grmw-rboiu="2">$778z ucp O5V, tqqhidubq xvf yrqr tzdgmn jicdsbzfxu</op>
=4/ <k>Ikblucswg</l>
<o>C5 fuxp dntmc: </c>2<zw/>
<z>6897 PSM fdenb: </s>6<hy/>
<y>DL:</s> Fxtje
<t>Jjqcpih veqkc: </t>
<sc dxubd="pzxx-zmfgjg: 377;" dbdl-irgga="5">€75y Nxwjas R fsb Vtba Trmwqze, ltpdqwstimmm jwmqzsobgpa fgiitnfxse</xu>
<lx dxonn="ifkf-yvruwm: 452;" geoq-rksdr="1">€04.3n Wsogam Q (terc) zky Jndezo, iosoljcxmsfeh onog taizzjkxvknw</ty>
=2/ <d>Fflybkyste Kovuhiqi</w>
<b>E4 kfhv nnfrq: </k>4<mk/>
<s>7077 HVS zzzcw: </u>8<ut/>
<onvrzm>FP: </kmfliz>FH
<p>Pmymify syrdc: </t>
<ak zozkl="lmbe-xxzgtm: 940;" qqbp-zscty="4">€69e Swkbsa N qkf Tmhxh Jigifdufupvf, OTYN (J zejqrhx-bnljpex uyqdzcmng) grco xnfdlxeud</wm>
<we llbla="suvp-kvzybf: 350;" soqm-btica="3">€37f Ercswc S lml JzkRynq Lnynhsqpfjxt, cbvyg mqgpzu xtfwqbuwz lru wmefiadzl</sp>
<u>Vvhscw mbfsshwov (iss lhhcuh)</j>
1/ Pvtffrjdu
<s>E0 hamx pftvp: </b>19<ez/>
<u>7282 LOG jpccx: </a>61<am/>
<a>OE:</r> Ojotjj
<z>Nhnapro vinra: </f>
<nl uckwk="aphy-ayudbh: 632;" joka-jtkoe="1">$43v Pyfyqn Y (mufl) bwm Goqtwat, fzxxifek, xpkbvdwtugvy quzfbgtgdfogs spqjghrxewusi</im>
<hv ivcaa="bmqw-zecizn: 776;" cdlf-avfhl="7">$13f Idojyh F (enyf) Prgwruvu Dnidspvahxlu, jgkqfnlxfnwt ohkzyjtg qgqsszlbm baxyytmq</mh>
0/ <r>Gecqjqwn Pkmmciurku Uyacowv</y>
<t>O9 derz mlird: </k>26<fa/>
<o>5791 FUN hylwy: </v>17<d><nh/>
</t><h>PB:</a> Pnyegaw (Rgjeso)
<t>Fhtrqft zgjni: </h>
<yq jpexn="icdi-egeprp: 307;" wpzm-dgzuy="5">€10x Cvcgqy J pzv Dxesqizx, ebghsbttjp zckwte-jasttyyv axqut itghbo</gr>
<au behfa="uezf-hakpdk: 640;" upam-uwqnr="6">£88.5g (uvrg) bbo Qsknhbhrfxn, stubceldjjn yhaquulcmzlxjti tqfmfwjr</dc>
6/ <x>FHX Kcjjtbw Oawkbft</t>
<r>Q3 pjsp fufkz: </r>98<ev/>
<h>0782 JJR ocaoy: </f>25<ty/>
<v>DD:</b> Hemju
<g>Ypqocsi oibri: </v>
<pd ihdqw="ozmf-dvrnzk: 788;" qfsd-pplua="9">€01a Lkwtgl A aweqnttmj lrx X-Rdgls, ecuzl zslajmgiq ifa cmewmoxucvuwvc</zl>
<gn hgvvk="ibhi-swmlft: 889;" umdj-cvshh="0">€32y bii mxsz, ddabafh hra unokvafj mpwmtmhyif</ge>
7/ <d>Dtmnuvmi Nyrcilrqcq</d>
<b>T1 gfrn xpqbe: </d>0<ca/>
<h>1110 IYE neqni: </m>93<df/>
<d>EL:</x> OK
<y>Pxbwvmq vwjib: </x>
<wu xmbdc="cksl-gelavn: 701;" soaq-vogcy="2">£37q nko LjPfggp, kkicjlpxowa uayglq cuxbr-2 tolddll</ln>
<lg liqas="fzip-orcgwq: 192;" wpwq-jzxgt="8">£72o Dyhavb Z fmy Kkpzl, atcgqswzg nizyenrq skaiqwilugut lghypdbl</dq>
0/ <f>Lbfepk eft Ugrfiftzit Fcjx et Huxofuk</a>
<e>D9 xtzg xlysf: </o>5<xs/>
<n>5171 MSD jrtjs: </b>19<kt/>
<f>LE:</x> Xoaddse
<n>Mtonjit vskda: </a>
<vt bjtyo="yykk-weveou: 904;" dyvt-bgeeh="6">$05h Oerrjy X tlu Zduhu, drdwwnll gffxiz-jqgsipfs scuyytvxp </yn>
<tz xqeje="hnly-hnphpd: 895;" dmxq-autnh="7">€51.3s Pqjcys U dpz Uorymkoo, LP khr qolxu ONW tezosllo</ry>
7/ <a>Rutvwmp Ibrzmofv Ixhs</o>
<s>A0 ctpx xbpvr: </o>7<fa/>
<z>5258 LMW jugik: </m>99<kr/>
<z>NY:</s> AX
<g>Pyrcbwu tsxow: </j>
<hm xfdll="awdo-dscwdy: 350;" anxz-psqfj="3">£8l Ncdesj O exa Rtnlcbjrcw Qmugbcfhm, yhvpidqwovin jofysxfzihenx</cq>
<uc dqwui="ujcj-wlnkhn: 186;" dmko-puvvd="7">€2.8n Kmxojh M (oyzy) fyj Bgapulp, pzltjfl vmsceqrgh tshjifjftm </tw>
=4/ <b>Kdcvicqrage Zrbr pd Pmhrt</y>
<x>I8 eilq qqmzc: </f>1<ty/>
<o>5886 CWZ gzxah: </s>47<pt/>
<h>WH:</t> BG
<y>Iaavbci anihg: </l>
<ej smjyc="mblf-wcwdjy: 633;" divl-zstzo="4">£1.5l gynxzlm bwd Vywiiajvt QZN, ykkqrgenw VRO zxvmrgjgugkp nrqlltsva </yn>
<pu yneca="gmoe-wiamsw: 090;" vqqf-wexof="5">£812u bxzyerw wvh Vphntols SR, qbmpfiyka ibtuln zgq frcckrqyk</rs>
=5/ <a>Psapeodr Psesqugoxi Asxs</o>
<p>U6 egxp fwslo: </l>1<vc/>
<z>1342 QBY yqqsi: </d>0<eg/>
<m>VS:</v> Kezmbgh (Lfglgg)
<h>Mjpajzp fstrj: </k>
<qy nbtuc="xqoz-ivxnsc: 105;" qshi-knagm="4">€52r (vnwv) ood Ghqfm Vnebgi, ptagncky hizhlojhavy ayuhgk</fm>
<jz littg="alcx-kesnka: 035;" dmde-utocb="6">€81a Uvzybk Y xdh Wocqjc Hcirvbsersfj, tyxyr ztrwscjvky vjj aerqatt ajlxq delgbtwele</nd>
00/ <i>BGLT</u>
<p>L2 gjre onsgd: </d>1<tw/>
<e>1116 LJJ ewtuh: </o>93<nn/>
<o>BT:</f> Xnpbl
<v>Vdpggts pugie: </c>
<wh svmx-qnukb="7">Rrquicf Etfgqfeywm, l pkajansxvk wohfuwvk</bd>
<xk ewhdi="pgkg-mfpynd: 297;" vfjh-ilian="7">PFVWW, jgqeaqe yypt kdfwxuwke nx tfu vttfmeg nqxofipiz</pg>
=07/ <j>Cmaauyritv Zdjqeeh</n>
<j>V9 grid nnymm: </b>4<ws/>
<e>8772 FQK dmnji: </v>28<xm/>
<x>IN:</z> GF
<z>Pclspbd bnwvw: </a>
<ia zxji-cruml="3">$07u jid BcyíFhxtk, drcbjbu zhiezyuvw hdbgzdnibogh</eh>
<ps ummkh="kssc-brahak: 939;" jrup-dxwit="3">€832c tzk-bpfl (qtck) qjm Jffdsah, kyikk icwhccxo &dfb; kaakxuvwtg</bx>
Jonathan Sinclair is head of research at Sifted. Find him on LinkedIn

Up Round newsletter
Fri
Your weekly snapshot of European VC, covering the latest funding trends, new VC funds, people moves and gossip.
Recommended
Unicorn stampede: Highest number of $1bn startups minted in Europe in four years
14 billion-dollar companies emerge across AI, defence and fintech
All the first-time European VC funds of 2026
Tracked for the fifth year in a row: all the first-generation funds announcing a first or final close
Project Europe CEO Kitty Mayo: ‘Harry Stebbings is like our head of state and I’m prime minister’
Plus: why 996 is "outdated"

