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LNewImageONDON—U.S. venture-capital firms are increasingly looking to invest in European biotechnology companies, regaining momentum that was shaken after the global recession.

In a small but growing number of European deals this year, U.S. investors have played a role. The number of venture-capital rounds in Europe involving at least one U.S. fund climbed from a low of just five in 2011 to 21 in 2014, according to data analyzed by The Wall Street Journal from venture-capital database VentureSource. Last year’s toll, through November, came to 17.

Image: http://www.wsj.com