European Venture Capital Concentrates Funding Into AI

PitchBook's 2025 report shows European venture capital deal value rose modestly to €66.2 billion (up 5.1%), even as deal count fell over 20% to 10,206, indicating fewer, larger rounds and a 45.2% surge in Series D and later funding. AI led with €23.5 billion (35.5% of value, +32.6% YoY); fintech rebounded to €13.4 billion, fundraising hit a historic low (€12 billion), and venture debt and secondaries emerged as key liquidity sources.