For over a decade European venture capital has been a backwater, and U.S. VC has been flying high since 2010. Europe is raising its game, however, and Silicon Valley looks over-inflated. On a key measure — the ratio of exit value realized to capital commitments — European venture capital now outperforms the U.S.
http://www.forbes.com/sites/toddhixon/2016/06/23/on-a-key-measure-european-venture-capital-now-out-performs-the-u-s/#5f96082e665d