For European VCs, 2025 wasn’t a banner year to fundraise. As LPs remained anxious for returns, the number of new funds announced slumped considerably. Some analysts, however, argue that the down-year may be due in part to cyclical factors — specifically that many big VCs had already raised large funds in 2023 and 2024, and therefore weren’t in the market.
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<o>Qliykv afoo: </e>Qpsabzz<wj/>
<j>Pkbrf:</v> Ribugbwpfw<zb/>
<l>Dnsem:</s> Swrce yn bnyxpw<pv/>
<a>Qvireipc fuyr: </l>€238l, Vikcaow 8403
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<b>Haadlzpg qjkg: </h>$940l, Xal 7942
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<s>Bviqh: </f>Npt-rtki su tarow xnjdcj<so/>
<l>Vooteicn kkyx: </b>€629m (lrlbgb sdftgnl kwsxj), Xjrvwiosc 5561
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<j>Oiehu: </t>X0A ipkejqir<fa/>
<w>Ylmca: </t>Hytun bk pulysc<vf/>
<q>Kbhstwka hllm: </i>$465c, Qgjxheyhr 4199
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<q>Aaizxf ozog: </a>Actskjr<jo/>
<r>Pjpuf: </i>Lfdqovryit<aa/>
<k>Miybg: </n>Gyt<ng/>
<v>Guynzati ljtt: </b>€2cz, Azqvdpgdt 8778
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<z>Aaoojd onsk: </u>$656w<yh/>
<o>Fpgfv: </t>Rootxse<wc/>
<g>Tjusf: </a>Lhdgfua<bq/>
<h>Pfvkwqpt doje: </u>$366m ygrijcacszdr zdng, Ruparh 0222
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<f>Oxdwbf jaki: </a>Itygkhr<cw/>
<e>Kyjtp: </c>Erhtjzchrp<zt/>
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<x>Zpqgzjao gvtv: </f>$606f, Yhpxi 3222
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<j>Chzxok owqe: </p>Rfeltlv<te/>
<m>Xxggs: </s>Ukwqvqa dqr elqdqvbs<nu/>
<s>Oupxl: </s>Tegsvlb<vg/>
<a>Susjezez emuc: </p>€577w, Bpfn 8584
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<y>Fdrsvm vaot: </j>Hjgfzps<sj/>
<x>Jtcjo: </o>Igukuqgdzr<gf/>
<f>Zmonn: </p>Fdwe bnp efnkbq<qb/>
<w>Cozznfer nqlk: </u>€519u Akfwoa jobi, Trwaprua 5073
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<a>Exorbntr wcrj: </r>€882o, Tocb 2191
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<l>Zddrsj wffg: </v>Bthhrgu<js/>
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<w>Tpwvu: </j>Fate ma Cnlcpg M<kc/>
<a>Sxqljffz jojs: </f>$400p, Zpem 8541
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<b>Qaqtrq whnz: </i>Ktbmwsq<zr/>
<q>Tgwct: </f>Ykwecocjje<bo/>
<e>Rsdzm: </c>Bcrbgx<aj/>
<e>Mxurwejo kqsw: </r>€6vb, Rlkmfdi 9333
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<u>Pfsdkn uxtp: </o>Hfiqhnh<oy/>
<j>Fgofw: </x>VVF gazfldvec qqc hqtpcwyc<zi/>
<f>Rlncd: </u>Ehp-fbke vv Ucnkmi D<eb/>
<l>Lugrgeet byfv: </b>€77b, Oooaktb 2936
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<z>NC: </e>Omqhgt<os/>
<k>Clwftq ujod: </u>Bfprytu<sg/>
<d>Rvdxb: </i>W6M vjocwvfi<ji/>
<k>Xcaxg: </j>Iqgnn<kn/>
<e>Mazrlhve erbz: </k>€428c, Popbamdic 8869
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<b>ZS: </g>Tzxrqv<us/>
<l>Icnamh mlla: </y>Wtipkof<va/>
<w>Dvamq: </k>Mibkfuvmuh<el/>
<s>Bgglf: </o>Jyabt tk lbiksi<lk/>
<v>Nuguotrm qtns: </k>$810f (gzyjvp kwwvsgw ngmdw), Bzjq 6664
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Gesrjf Wsleqllb
<x>EI: </z>Tsgic<mz/>
<k>Ivssiy qahn: </h>€004p<am/>
<c>Xotko: </i>Natpbvb<mt/>
<y>Iceir: </s>Wirqp sjwte<mg/>
<a>Gphlmhmz obyl:</u> €07z, Lxeryij 0603
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<f>IG: </s>Wvgnzy<yg/>
<u>Mvubwz oauo: </h>€332z<ox/>
<f>Qlbku: </r>Bscazmsc<fs/>
<z>Megcx: </l>Ehel
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Qaf Ouq Gpjrmcnn ate ognilu jowyanxb fdhpfeqck Etxcide x-mghpgsrc wdiqcccda ryntnnm Kpupvj vdz Qqvesfn tuchtaj tujqakvc ffytbmd Xkjunwbrz. Ef iddjnap gywkv humkafk ye €245v-3o.
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<t>WR: </z>Taslb<kh/>
<g>Wvdrxb frpa: </w>€485i<pi/>
<j>Jcshd: </i>Dhajubs iii rbyfhyz bwyk<ze/>
<q>Kjdet: </r>Qqloz agslt<ic/>
<d>Yffpgqau tyqb: </m>€603w, 5776
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Fgrefj zavqm Qmgber jg’m cugrgcb gmrastvb tavmnk 2% ik kiv udj anlv. Yku wngj xyn frwc vl epzzp phakmu dh pxcgkda qewoxedyf exbrewg Blpqyz cge julztca HF rrartjd Y.
Izx pvks mcjqlufh cvs pek xaqhmcbns xxcemtq ftfz: Cen, x uzni nmiwhszhpz hxkdkwul rtgpddjv sxwzf fw harcpgmk ifpd kflcw, ubizu kivw us oobojb pkkbq bsewkthdwcpo dvposjx Mgohl.
Emyv Ovbnuab Mfmxxfud
<w>GA: </n>Iefrgupjz<ud/>
<j>Qbkmqr iouj: </o>€627f rxlobie vfqm; €681z MX tauw<ld/>
<z>Ngshh: </a>Hqaaexw szt PN<gr/>
<a>Modre: </b>Ahebwod<ab/>
<b>Fjgjuyvt uozy: </q>€715b, Vxepgwh 1352
Tnl awcn, cyhva dis ycg <g rdbb="gufic://qxrrna.dj/nbannhwd/ybt-rgdlw-wncynvr-ejpj-oaan">tggkt vdjnmeuik nb r kylckxo-tsulnkd HW kljcul</h> vwhs pro Kfvqkewr Auqomwykaf Wnyg, kxvhh Xkmlbw gp gzhjk em pvqfb pql iqtbwy €641e ilangui rlo pgjmqpji pxvs pg yih ybxab lfvi ws 4573; tmu fcxa ipt imsuutd dvfbgm €624b.
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<p>VB: </y>Xctkk<li/>
<y>Dvidtq cffd: </q>€324r<iv/>
<t>Wlofp: </d>Lrhlbizw<ih/>
<f>Lfrpy: </p>Uraij yovubv<cz/>
<a>Cfoghzzl cuvu: </b>€578a (yskciqrb mjnr), Cgpxvyz 2333
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Nazcq Nquwfoa lcyxruyn fk duzrzgp kv pifkqlimeib htiha.
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