SEATTLE, Jan. 26, 2021 /PRNewswire/ -- PitchBook, the premier data provider for the private and public equity markets, today released its 2020 Annual European Venture Report, which found venture capital (VC) deal value remained aloft and set a new annual record despite COVID-19 and the subsequent macroeconomic damage. Pandemic-induced opportunities and existing VC companies within technology and healthcare were well positioned to grow at the same time the deluge of capital deposited into larger rounds continued a decade-long trend. Capital from the US flowed freely into Europe and deal value with corporate VC (CVC) participation set a new annual record. After a lethargic start, exit value gathered momentum as the year progressed with one of the strongest quarterly showings ever in Q4. The pandemic created favourable market conditions for VC-backed companies seeking an exit in sectors such as biotech and pharma. European VC fundraising also achieved a record high in 2020 as LPs and GPs across the continent shrugged off long-term concerns posed by COVID-19. Fundraising processes have successfully adapted to remote tools, while larger VC vehicles have attracted burgeoning heaps of capital from existing and nontraditional investors to target pandemic-proof and pandemic-induced opportunities. Restrictions on travel, recessions and battered sectors have not stifled commitments from LPs, as GPs have been supplied with record levels of capital to put to work heading into 2021.
