Venture capital investment in Europe and Israel saw record levels in the first quarter of 2015. The UK regained its position as the top destination for VC funding, surpassing Israel. March saw $998 million invested across 103 deals, making it the busiest month on record. Mega-rounds from companies like Taboola and Sigfox contributed significantly to the total funding amounts. Average round sizes were around $11-12 million across all countries excluding seed and mega rounds.
Today, I’m happy to release a data-driven review of VC investment trends in Europe and Israel in 2016. I’ve tried to put some new and useful data points into the deck, so let me know what you think of the new stuff. And please let me know what else you think I should be tracking and showing in the deck next time.
Some key highlights:
Overall, investment volume was up in 4Q, but still below 2Q’s record high
Total VC investment volume into Europe and Israel in 2016 was $14.5B, up from $12.1B in 2015, and increase of 20%
There were six mega-deals (over $100M) in 4Q, and 15 in total in 2016
Excluding the megadeals, investment volume declined in 4Q, the second quarterly decline in a row
Israel saw more VC investment activity than any other country in Europe with $3.9B in 2016. The UK and Germany were next with $3.0B and $2.3B, respectively
US VCs invested in around 11% of European/Israeli venture rounds. Israel, the UK, and Germany led in terms of US VC participation
Fintech was the most frequently funded vertical, with 178 investments. Marketing was second with 109
The categories that showed the most growth in frequency from 2015 to 2016 were Imagining (+400%), Agtech (+475%), and Automotive (+1100%)
You’ll find all that and more in the 61-page report
Today, I’m happy to release a data-driven review of VC investment trends in Europe and Israel in 2016. I’ve tried to put some new and useful data points into the deck, so let me know what you think of the new stuff. And please let me know what else you think I should be tracking and showing in the deck next time.
Some key highlights:
Overall, investment volume was up in 4Q, but still below 2Q’s record high
Total VC investment volume into Europe and Israel in 2016 was $14.5B, up from $12.1B in 2015, and increase of 20%
There were six mega-deals (over $100M) in 4Q, and 15 in total in 2016
Excluding the megadeals, investment volume declined in 4Q, the second quarterly decline in a row
Israel saw more VC investment activity than any other country in Europe with $3.9B in 2016. The UK and Germany were next with $3.0B and $2.3B, respectively
US VCs invested in around 11% of European/Israeli venture rounds. Israel, the UK, and Germany led in terms of US VC participation
Fintech was the most frequently funded vertical, with 178 investments. Marketing was second with 109
The categories that showed the most growth in frequency from 2015 to 2016 were Imagining (+400%), Agtech (+475%), and Automotive (+1100%)
You’ll find all that and more in the 61-page report
Europe & Israel 1Q17 Venture Capital ReviewGil Dibner
A review of Venture Capital investment trends across Europe and Israel in 1Q17. Breakdowns by country, sector, stage, business model, and target market.
Europe & Israel - VC Investment Trends 2015-2018 - Angular VenturesGil Dibner
A data-driven look at venture capital investment trends across Europe and Israel. By Angular Ventures, a specialist seed-stage enterprise tech VC firm investing across the region.
In an effort to support the community of early-stage founders, Angular Ventures surveyed 128 founders in Europe, Israel, and the United States.
We asked them how the Coronavirus has impacted their businesses and how they are responding.
This report is the result of that work.
Israel has the well deserved name of startup nation. The question however is can it also become a scaleup powerhouse. The purpose of this report is exactly that subject: taking the pulse of the Israeli scaleup ecosystem.
With this report we want to provide a comprehensive review of investment in scaleups and high-growth technology companies in Israel. Our aim is to provide data-driven guidance, insights and inspiration to stakeholders in the Israeli scaleup ecosystem.
Through all the market traumas of recent years, the crises in Greece, slowdown scares in China, US political gridlock, the collapse in oil prices, the wars and the migrant flows, investors prepared to weather short-term volatility have seen handsome returns on developed-economy equities since the depths of the financial crisis in 2008, with EUR and USD investors seeing only one modestly down year in 2011. There has also been good performance from high yield and investment grade corporate bonds, the laggards (since 2011) being investments connected to commodities and emerging markets.
Our analysis, set out in this Outlook, suggests that 2016 may deliver a fairly similar pattern. Temporary traumas could emanate from Federal Reserve tightening, reduced bond liquidity, renewed growth scares in China or geopolitics, but behind these is an underlying picture of ongoing expansion. The global economy is neither pushed up against capacity limits nor facing severe slack (except for commodities and energy), banking systems are healthy and debt levels seem more amber than red. Rapid growth seems unlikely, given aging populations (bar Africa and India) and sharing economy technologies that do not generate much Gross Domestic Product, but sensibly-priced assets do not need a booming economy to generate reasonable returns. At the time of writing (in late 2015), high yield and investment grade credits have spreads just above their quarter-century averages, giving them scope to weather gradual Fed tightening. Developed equities have valuations somewhat above historic norms on a price-earnings basis, but not on a price-book basis, and operational leverage (especially in the Eurozone) and consolidating oil prices should allow earnings growth to move from last year's negatives into the mid- to high-single digits. In short, we think developed equities and credits are well placed for another year of reasonable returns, with the dollar likely to be strong again as the Fed leads the monetary cycle. As for emerging markets, and the commodities on which many depend, a convincing general recovery looks some time away, but there is scope for some to move ahead of the pack, as discussed in a special article.
Of course there can always be risks that are not visible and Fed tightening has a habit of teasing these out, although usually not within its first year. But, equally, there could be upside surprises, if the USA finally moves toward solutions on taxing repatriated corporate cash and infrastructure spending or, more simply, the signals of rising confidence already visible in US and European consumer surveys translate into faster spending. We trust our readers will find the Investment Outlook 2016 to be of considerable interest for the coming year.
At SuperReturn International 2016, the world’s largest private equity & venture capital conference, John Gabbert discussed liquidity & returning capital. Including spotlights on global VC exit trends, IPO's, and European exits.
Go4Venture HTI Report: Tech Tour Growth 50 2017Go4Venture
Go4Venture has for many years been showcasing European Scaleups through the equity research platform (www.go4venture.com), which provides proprietary, curated research for investors. Through its Headline Transaction Index (HTI), Go4Venture delivers comprehensive analysis on all European funding rounds greater than €10 million.
In this report we have analysed the TTG50 2017 companies based on their Large (≥€10 million) HTI funding transactions in order to view these companies in the context of all European Scaleups achieving Large HTI rounds. See here -
http://go4venture.com/hti-report-ttg50-2017/
FDI is key area as it deals with inflow and outflow of capital. Countries around the world try to lure business investment as part of supporting economic growth in their various countries.
Why the Stakes are Higher for Corporate VenturingWellspring
Top global firms increasingly use corporate venture capital (CVC) as part of their innovation strategy. The corporate venturing market has expanded as deal sizes grow and new players seek investment in strategic technology. The competition benefits consumers who gain access to newer, innovative products, but it poses a significant challenge to firms that must find quality proprietary deals to fuel future growth.
Get the full results of the GCV corporate venturing survey at:
www.wellspring.com/Global-Corporate-Venturing
In our latest issue of Multiple, our European PE report based on the latest data from the Centre for Management Buyout Research (CMBOR), we reveal the value of PE-backed IPOs and secondary buy-outs increased in 2013, but, due to the lack of activity from European corporates, trade sales dropped. 2014 needs the return of the corporate buyer to complete the deal cycle.
Europe & Israel 1Q17 Venture Capital ReviewGil Dibner
A review of Venture Capital investment trends across Europe and Israel in 1Q17. Breakdowns by country, sector, stage, business model, and target market.
Europe & Israel - VC Investment Trends 2015-2018 - Angular VenturesGil Dibner
A data-driven look at venture capital investment trends across Europe and Israel. By Angular Ventures, a specialist seed-stage enterprise tech VC firm investing across the region.
In an effort to support the community of early-stage founders, Angular Ventures surveyed 128 founders in Europe, Israel, and the United States.
We asked them how the Coronavirus has impacted their businesses and how they are responding.
This report is the result of that work.
Israel has the well deserved name of startup nation. The question however is can it also become a scaleup powerhouse. The purpose of this report is exactly that subject: taking the pulse of the Israeli scaleup ecosystem.
With this report we want to provide a comprehensive review of investment in scaleups and high-growth technology companies in Israel. Our aim is to provide data-driven guidance, insights and inspiration to stakeholders in the Israeli scaleup ecosystem.
Through all the market traumas of recent years, the crises in Greece, slowdown scares in China, US political gridlock, the collapse in oil prices, the wars and the migrant flows, investors prepared to weather short-term volatility have seen handsome returns on developed-economy equities since the depths of the financial crisis in 2008, with EUR and USD investors seeing only one modestly down year in 2011. There has also been good performance from high yield and investment grade corporate bonds, the laggards (since 2011) being investments connected to commodities and emerging markets.
Our analysis, set out in this Outlook, suggests that 2016 may deliver a fairly similar pattern. Temporary traumas could emanate from Federal Reserve tightening, reduced bond liquidity, renewed growth scares in China or geopolitics, but behind these is an underlying picture of ongoing expansion. The global economy is neither pushed up against capacity limits nor facing severe slack (except for commodities and energy), banking systems are healthy and debt levels seem more amber than red. Rapid growth seems unlikely, given aging populations (bar Africa and India) and sharing economy technologies that do not generate much Gross Domestic Product, but sensibly-priced assets do not need a booming economy to generate reasonable returns. At the time of writing (in late 2015), high yield and investment grade credits have spreads just above their quarter-century averages, giving them scope to weather gradual Fed tightening. Developed equities have valuations somewhat above historic norms on a price-earnings basis, but not on a price-book basis, and operational leverage (especially in the Eurozone) and consolidating oil prices should allow earnings growth to move from last year's negatives into the mid- to high-single digits. In short, we think developed equities and credits are well placed for another year of reasonable returns, with the dollar likely to be strong again as the Fed leads the monetary cycle. As for emerging markets, and the commodities on which many depend, a convincing general recovery looks some time away, but there is scope for some to move ahead of the pack, as discussed in a special article.
Of course there can always be risks that are not visible and Fed tightening has a habit of teasing these out, although usually not within its first year. But, equally, there could be upside surprises, if the USA finally moves toward solutions on taxing repatriated corporate cash and infrastructure spending or, more simply, the signals of rising confidence already visible in US and European consumer surveys translate into faster spending. We trust our readers will find the Investment Outlook 2016 to be of considerable interest for the coming year.
At SuperReturn International 2016, the world’s largest private equity & venture capital conference, John Gabbert discussed liquidity & returning capital. Including spotlights on global VC exit trends, IPO's, and European exits.
Go4Venture HTI Report: Tech Tour Growth 50 2017Go4Venture
Go4Venture has for many years been showcasing European Scaleups through the equity research platform (www.go4venture.com), which provides proprietary, curated research for investors. Through its Headline Transaction Index (HTI), Go4Venture delivers comprehensive analysis on all European funding rounds greater than €10 million.
In this report we have analysed the TTG50 2017 companies based on their Large (≥€10 million) HTI funding transactions in order to view these companies in the context of all European Scaleups achieving Large HTI rounds. See here -
http://go4venture.com/hti-report-ttg50-2017/
FDI is key area as it deals with inflow and outflow of capital. Countries around the world try to lure business investment as part of supporting economic growth in their various countries.
Why the Stakes are Higher for Corporate VenturingWellspring
Top global firms increasingly use corporate venture capital (CVC) as part of their innovation strategy. The corporate venturing market has expanded as deal sizes grow and new players seek investment in strategic technology. The competition benefits consumers who gain access to newer, innovative products, but it poses a significant challenge to firms that must find quality proprietary deals to fuel future growth.
Get the full results of the GCV corporate venturing survey at:
www.wellspring.com/Global-Corporate-Venturing
In our latest issue of Multiple, our European PE report based on the latest data from the Centre for Management Buyout Research (CMBOR), we reveal the value of PE-backed IPOs and secondary buy-outs increased in 2013, but, due to the lack of activity from European corporates, trade sales dropped. 2014 needs the return of the corporate buyer to complete the deal cycle.
Europe & Israel 3Q17 Venture Capital ReviewGil Dibner
Today, I’m happy to release a data-driven review of VC investment trends in Europe and Israel in the third quarter of 2017.
Some key highlights:
Overall, dealflow volume continues to hit new highs
Total VC investment volume into Europe and Israel was $5.5B in 3Q17 and $5.8B in 2Q17 (a record)
The number of deals peaked in 1Q17 at over 500 and has been trending gently downward, but still at very high levels.
Deal size is trending up again
In the past two quarters, there were 13 mega-deals (over $100M)
There is still zero evidence that Brexit has impacted the UK venture environment. Both deal numbers and investment volumes are up since the Brexit vote
In both 3Q and 2Q, the UK led the region in investment volume. Israel was in second place
France continues to boom, with 4 quarters of consecutive growth in investment volume
After six quarters of consecutive growth, Swedish VC investment volume declined in 3Q
Fintech was the yet again most frequently funded vertical, with 48 investments in 3Q. Marketing was second (31) and Electronics tied with Lifestyle for third (26)
The categories that showed the most growth in frequency from 3Q16 to 3Q17 were Entertainment (+171%), Health (+133%), and Employment/HR (+111%)
The categories that showed the most decrease in frequency from 3Q16 to 3Q17 were industrial (-50%), communication (-46%), and Fashion and Adtech (both down 43%).
You’ll find all that and more in the 52-page report, so download it here or view it on Slideshare below. I’d recommend also taking a look at the more detailed 2016 year in review report, which can be found here.
As always, I welcome your comments, questions, and feedback. Please let me know if there are additional slices of data you think I should add into the report.
The investment potential of growth capital and the digital economyAxon Partners Group
Growth capital is becoming a key area of investment, especially in the digital media sector. Axon Partners Group investigates its potential for high returns in comparisons to areas like Venture Capital and real estate, and highlights case studies that have hit the headlines in recent years.
Industrifonden's Swedish Tech Funding Report Q1-Q2 2017 provides an analysis of the venture investment activity in Swedish private tech companies during the first six months of 2017.
The Go4Venture Advisers’ European Venture & Growth Equity Market Monthly Bull...CAR FOR YOU
The Go4Venture Advisers’ European Venture & Growth Equity Market Monthly Bulletin provides a summary of corporate finance activity among emerging European TMT companies:
Investments, i.e. Venture Capital (VC) and Private Equity (PE) financings, including growth equity, financing rounds with single secondaries components (recapitalisations); and
M&A Transactions where the sellers are VC and PE-backed European companies, including all majority transactions with no new investment going into the business (e.g. acquisitions, Management Buyouts (MBOs) and other buyouts).
Disclaimer
This presentation may contain forward-looking statements based on current assumptions and forecasts made by Bayer Group or subgroup management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in Bayer’s public reports which are available on the Bayer website at www.bayer.com. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.
Transcript: Selling digital books in 2024: Insights from industry leaders - T...BookNet Canada
The publishing industry has been selling digital audiobooks and ebooks for over a decade and has found its groove. What’s changed? What has stayed the same? Where do we go from here? Join a group of leading sales peers from across the industry for a conversation about the lessons learned since the popularization of digital books, best practices, digital book supply chain management, and more.
Link to video recording: https://bnctechforum.ca/sessions/selling-digital-books-in-2024-insights-from-industry-leaders/
Presented by BookNet Canada on May 28, 2024, with support from the Department of Canadian Heritage.
UiPath Test Automation using UiPath Test Suite series, part 4DianaGray10
Welcome to UiPath Test Automation using UiPath Test Suite series part 4. In this session, we will cover Test Manager overview along with SAP heatmap.
The UiPath Test Manager overview with SAP heatmap webinar offers a concise yet comprehensive exploration of the role of a Test Manager within SAP environments, coupled with the utilization of heatmaps for effective testing strategies.
Participants will gain insights into the responsibilities, challenges, and best practices associated with test management in SAP projects. Additionally, the webinar delves into the significance of heatmaps as a visual aid for identifying testing priorities, areas of risk, and resource allocation within SAP landscapes. Through this session, attendees can expect to enhance their understanding of test management principles while learning practical approaches to optimize testing processes in SAP environments using heatmap visualization techniques
What will you get from this session?
1. Insights into SAP testing best practices
2. Heatmap utilization for testing
3. Optimization of testing processes
4. Demo
Topics covered:
Execution from the test manager
Orchestrator execution result
Defect reporting
SAP heatmap example with demo
Speaker:
Deepak Rai, Automation Practice Lead, Boundaryless Group and UiPath MVP
Slack (or Teams) Automation for Bonterra Impact Management (fka Social Soluti...Jeffrey Haguewood
Sidekick Solutions uses Bonterra Impact Management (fka Social Solutions Apricot) and automation solutions to integrate data for business workflows.
We believe integration and automation are essential to user experience and the promise of efficient work through technology. Automation is the critical ingredient to realizing that full vision. We develop integration products and services for Bonterra Case Management software to support the deployment of automations for a variety of use cases.
This video focuses on the notifications, alerts, and approval requests using Slack for Bonterra Impact Management. The solutions covered in this webinar can also be deployed for Microsoft Teams.
Interested in deploying notification automations for Bonterra Impact Management? Contact us at sales@sidekicksolutionsllc.com to discuss next steps.
LF Energy Webinar: Electrical Grid Modelling and Simulation Through PowSyBl -...DanBrown980551
Do you want to learn how to model and simulate an electrical network from scratch in under an hour?
Then welcome to this PowSyBl workshop, hosted by Rte, the French Transmission System Operator (TSO)!
During the webinar, you will discover the PowSyBl ecosystem as well as handle and study an electrical network through an interactive Python notebook.
PowSyBl is an open source project hosted by LF Energy, which offers a comprehensive set of features for electrical grid modelling and simulation. Among other advanced features, PowSyBl provides:
- A fully editable and extendable library for grid component modelling;
- Visualization tools to display your network;
- Grid simulation tools, such as power flows, security analyses (with or without remedial actions) and sensitivity analyses;
The framework is mostly written in Java, with a Python binding so that Python developers can access PowSyBl functionalities as well.
What you will learn during the webinar:
- For beginners: discover PowSyBl's functionalities through a quick general presentation and the notebook, without needing any expert coding skills;
- For advanced developers: master the skills to efficiently apply PowSyBl functionalities to your real-world scenarios.
JMeter webinar - integration with InfluxDB and GrafanaRTTS
Watch this recorded webinar about real-time monitoring of application performance. See how to integrate Apache JMeter, the open-source leader in performance testing, with InfluxDB, the open-source time-series database, and Grafana, the open-source analytics and visualization application.
In this webinar, we will review the benefits of leveraging InfluxDB and Grafana when executing load tests and demonstrate how these tools are used to visualize performance metrics.
Length: 30 minutes
Session Overview
-------------------------------------------
During this webinar, we will cover the following topics while demonstrating the integrations of JMeter, InfluxDB and Grafana:
- What out-of-the-box solutions are available for real-time monitoring JMeter tests?
- What are the benefits of integrating InfluxDB and Grafana into the load testing stack?
- Which features are provided by Grafana?
- Demonstration of InfluxDB and Grafana using a practice web application
To view the webinar recording, go to:
https://www.rttsweb.com/jmeter-integration-webinar
Essentials of Automations: Optimizing FME Workflows with ParametersSafe Software
Are you looking to streamline your workflows and boost your projects’ efficiency? Do you find yourself searching for ways to add flexibility and control over your FME workflows? If so, you’re in the right place.
Join us for an insightful dive into the world of FME parameters, a critical element in optimizing workflow efficiency. This webinar marks the beginning of our three-part “Essentials of Automation” series. This first webinar is designed to equip you with the knowledge and skills to utilize parameters effectively: enhancing the flexibility, maintainability, and user control of your FME projects.
Here’s what you’ll gain:
- Essentials of FME Parameters: Understand the pivotal role of parameters, including Reader/Writer, Transformer, User, and FME Flow categories. Discover how they are the key to unlocking automation and optimization within your workflows.
- Practical Applications in FME Form: Delve into key user parameter types including choice, connections, and file URLs. Allow users to control how a workflow runs, making your workflows more reusable. Learn to import values and deliver the best user experience for your workflows while enhancing accuracy.
- Optimization Strategies in FME Flow: Explore the creation and strategic deployment of parameters in FME Flow, including the use of deployment and geometry parameters, to maximize workflow efficiency.
- Pro Tips for Success: Gain insights on parameterizing connections and leveraging new features like Conditional Visibility for clarity and simplicity.
We’ll wrap up with a glimpse into future webinars, followed by a Q&A session to address your specific questions surrounding this topic.
Don’t miss this opportunity to elevate your FME expertise and drive your projects to new heights of efficiency.
UiPath Test Automation using UiPath Test Suite series, part 3DianaGray10
Welcome to UiPath Test Automation using UiPath Test Suite series part 3. In this session, we will cover desktop automation along with UI automation.
Topics covered:
UI automation Introduction,
UI automation Sample
Desktop automation flow
Pradeep Chinnala, Senior Consultant Automation Developer @WonderBotz and UiPath MVP
Deepak Rai, Automation Practice Lead, Boundaryless Group and UiPath MVP
Neuro-symbolic is not enough, we need neuro-*semantic*Frank van Harmelen
Neuro-symbolic (NeSy) AI is on the rise. However, simply machine learning on just any symbolic structure is not sufficient to really harvest the gains of NeSy. These will only be gained when the symbolic structures have an actual semantics. I give an operational definition of semantics as “predictable inference”.
All of this illustrated with link prediction over knowledge graphs, but the argument is general.
Elevating Tactical DDD Patterns Through Object CalisthenicsDorra BARTAGUIZ
After immersing yourself in the blue book and its red counterpart, attending DDD-focused conferences, and applying tactical patterns, you're left with a crucial question: How do I ensure my design is effective? Tactical patterns within Domain-Driven Design (DDD) serve as guiding principles for creating clear and manageable domain models. However, achieving success with these patterns requires additional guidance. Interestingly, we've observed that a set of constraints initially designed for training purposes remarkably aligns with effective pattern implementation, offering a more ‘mechanical’ approach. Let's explore together how Object Calisthenics can elevate the design of your tactical DDD patterns, offering concrete help for those venturing into DDD for the first time!
Elevating Tactical DDD Patterns Through Object Calisthenics
Europe & Israel 1Q15 VC Trends Review
1. Venture Capital in Europe & Israel
Venture Investment Data: First Quarter, 2015
Prepared by Gil Dibner @gdibner
blog: yankeesabralimeyMarsaxlokk Harbor, Malta, population 4,000
2. The data
• Around the middle of last year, I decided I wasn’t happy with available data sources on VC
rounds in Europe & Israel, and that I’d need to build my own
• The data in this report consists entirely of data I’ve gathered manually based on publically
available, free sources
• No paid data sources or API calls were harmed in the making of this dataset, every
investment was manually classified
• This allows analysis of some aspects of the data I consider important – aspects that don’t
appear in other data sources
• Seed investment is still under-reported, but I got a bit better at capturing it in the fourth
quarter. Rounds smaller than $500K are generally excluded from this analysis
• The analysis is limited to ICT categories and excludes life sciences
• The analysis excludes Turkey and FSU countries
• I’m converting EUR and GBP into USD using monthly average exchange rates
2@gdibner
blog: yankeesabralimey Syndicate for European & Israeli Enterprise Companies
3. Monthly pace of venture investment
• During the nine months
ended March, 2015, there
were 596 reported venture
investments across Europe &
Israel
• A total of $6.487B was
invested in Europe & Israel
during this period, an
average of $721M per month
• During these nine months,
January, February, and March
were each – in turn – record-
breaking months
• March saw $998M invested
across 103 rounds
@gdibner
blog: yankeesabralimey 3
493
565
644 625
562
725
903
971 998
42 30 50 79 73 52
92 75 103
0
200
400
600
800
1,000
1,200
Jul Aug Sep Oct Nov Dec Jan Feb Mar
Qtr3 Qtr4 Qtr1
2014 2015
Numberofinvestments
VC Investments in Europe & Israel, July 2014 - March 2015
Invested amount (US $M) Number of investments
Syndicate for European & Israeli Enterprise Companies
4. Quarterly pace of venture investment
• The first quarter of 2015 saw
a significant uptick in activity
over the third and fourth
quarters of 2014
• In 1Q15, over $2.8B was
invested across 270
companies in Europe & Israel
4
@gdibner
blog: yankeesabralimey
1,703
1,912
2,872
122
204
270
0
500
1,000
1,500
2,000
2,500
3,000
3,500
0
50
100
150
200
250
300
Qtr3 Qtr4 Qtr1
2014 2015
Amountinvested(US$M)
Numberofinvestments
VC Investments in Europe & Israel
Invested amount (US $M) Number of investments
Syndicate for European & Israeli Enterprise Companies
5. Mega-rounds skew the investment totals
• This analysis breaks down VC
investments into brackets by size:
• Seed (less than $2M)
• Early venture ($2-8M)
• Venture ($8-20M)
• Growth ($20-100M)
• Mega ($100M+)
• Five mega-rounds took place in
Europe in the first quarter:
• Taboola, an Israeli content-
recommendation company, raised
$117M in February
• Sigfox, a French wireless network for
IoT, raised $115M in February
• WorldRemit, a British money transfer
company raised $100M in February
• Simplivity, an Israeli enterprise
systems company, raised $175M in
March
• Financial Force, a British ERP SaaS
provider, raised $110M in March
• Even adjusting for mega-rounds,
1Q is still significantly above the
previous two quarters
5
@gdibner
blog: yankeesabralimey
98 57 92
121 120 102 85 82
118
118
60
168 109 76 127 169 226 161
171 342 26
366
340
229
613
153
387
0
200
400
600
800
1,000
1,200
Jul Aug Sep Oct Nov Dec Jan Feb Mar
Qtr3 Qtr4 Qtr1
2014 2015
AmountInvested(US$M)
Pace of VC Investment in Europe and Israel
Mega (>100) Growth (20-100) Venture (8-20) Early Venture (2-8) Seed (.5-2)
Syndicate for European & Israeli Enterprise Companies
6. Number of investments, by bracket
• In terms of deal volume,
Europe & Israel have
completely rebounded from
the Christmas-induced lull.
• March was the busiest month
since I started tracking the
data
• 45 seed deals
• 33 early venture deals
• 13 venture deals
• 10 growth deals
• 2 mega rounds
6
@gdibner
blog: yankeesabralimey
6 3 7
28 26
15
37
30
45
21
14
25
31 29
22
24
20
33
9
5
16
10
6
10
13
16
13
5
7
1
10
12
4
18
5
10
0
20
40
60
80
100
120
Jul Aug Sep Oct Nov Dec Jan Feb Mar
Qtr3 Qtr4 Qtr1
2014 2015
NumberofVCinvestments
Number of investments in Europe and Israel by bracket
June 2014 to March 2015
Mega (>100) Growth (20-100) Venture (8-20) Early Venture (2-8) Seed (<2)
Syndicate for European & Israeli Enterprise Companies
7. Average round size, by bracket
• Previously, I presented this
broken down by bracket, but
I think the data is more
meaningful when taken in
aggregate.
• This average excludes seed
rounds and mega rounds, so
it reflects all rounds done in
Europe & Israel between $2M
and $100M
• It’s still hard to see a trend,
but I think its safe to say
rounds are averaging around
$11-12M and trending
upwards
7
@gdibner
blog: yankeesabralimey
11.1
17.6
6.8
11.7
11.4
12.7
15.8
11.2
11.9
4
6
8
10
12
14
16
18
20
Jul Aug Sep Oct Nov Dec Jan Feb Mar
Qtr3 Qtr4 Qtr1
2014 2015
AmountInvested(US$M)
Average investment size in Europe and Israel
(Round sizes of 2-100M)
Syndicate for European & Israeli Enterprise Companies
8. Total venture investment by country, 2H 2014
• The UK overtook Israel to
regain its position as the
country with the largest
amount of VC activity in
1Q15
• Germany, France, and
Sweden rounded out the rest
of the top five
8
@gdibner
blog: yankeesabralimey
930.1
834.6
537.6
233.0
88.9
52.7
50.6
38.9
34.3
23.4
17.2
7.8
5.4
3.8
3.4
2.7
2.5
1.3
1.0
0.9
0.9
0.6
0.3
UK
Israel
Germany
France
Sweden
Spain
Denmark
Netherlands
Switzerland
Estonia
Finland
Belgium
Italy
Norway
Latvia
Ireland
Poland
Austria
Portugal
Iceland
Serbia
Lithuania
Greece
0 100 200 300 400 500 600 700 800 900 1,000
Total VC investment volume by country, 1Q15 (US $M)
Syndicate for European & Israeli Enterprise Companies
9. Total venture investment by country, 3Q & 4Q 2014
• To get a better sense of VC
volumes in various countries,
this analysis excludes mega-
rounds
• UK venture activity
skyrocketed in 1Q15,
doubling that of 3Q14
• Investment volume in Israel
stayed roughly flat from a
record-breaking 4Q
• Investment volume in
Germany continued to show
strong increases
• France & Sweden both
declined slightly, but France
held on to its fourth place
slot
9
@gdibner
blog: yankeesabralimey
Israel, 315.2
Israel, 567.5
Israel, 542.6
UK, 369.0
UK, 262.9
UK, 720.1
Germany, 180.2
Germany, 284.4
Germany, 388.6
France, 29.3
France, 163.3
France, 118.0
Sweden, 74.4 Sweden, 123.2 Sweden, 88.9
Qtr3 Qtr4 Qtr1
0
100
200
300
400
500
600
700
800
TotalVCinvestment(US$M)
Total VC investment, 3Q14 - 1Q15 (top 5 countries, excluding mega-rounds)
Syndicate for European & Israeli Enterprise Companies
10. Average venture round sizes, by country
• Looking across all VC deals in
the second half of 2014, it’s
possible to draw some
conclusions about the
funding environments in
various countries
• This analysis excludes mega-
rounds and rounds less than
$2M
• UK & Ireland companies
raised the largest round sizes
on average in 1Q, a
significant jump from 4Q
• DACH startups seem to raise
consistently large rounds on
average
10
@gdibner
blog: yankeesabralimey
Benelux, 10.6
Benelux, 4.7
Benelux, 7.2
DACH, 18.0
DACH, 14.9
DACH, 14.4
France, 3.7
France, 5.6
Iberia, 10.4
Iberia, 7.2
Iberia, 14.1
Israel, 11.6
Israel, 15.9
Israel, 12.1
Nordic, 7.7
Nordic, 11.5
Nordic, 11.4
UK & Ireland, 11.9
UK & Ireland, 18.9
0.0
2.0
4.0
6.0
8.0
10.0
12.0
14.0
16.0
18.0
20.0
Qtr3 Qtr4 Qtr1
2014 2015
Averageroundsize(US$M)
Average investment size in Europe and Israel (rounds of $2-20M)
Syndicate for European & Israeli Enterprise Companies
11. Total venture investment by region, 3Q14 to 1Q15
• When VC investments across
Europe are aggregated into
regions, Israel, DACH, UK &
Ireland, the Nordics, and
France are the clear and
consistent leaders
• Benelux, Iberia, Southern
Europe, and Eastern Europe
do produce meaningful VC
investments (Adyen, Prezi,
and many others), but the
volumes are still low
11
@gdibner
blog: yankeesabralimey
Israel, 315.2
Israel, 567.5
Israel, 834.6
UK & Ireland, 399.0
UK & Ireland, 262.9
UK & Ireland, 932.8
DACH, 532.2 DACH, 290.2
DACH, 573.2
Nordic, 124.0
Nordic, 219.3
Nordic, 188.6
France, 129.3 France, 163.3
France, 233.0
Benelux, 284.9Iberia, 168.1
0
500
1,000
1,500
2,000
2,500
3,000
3,500
Qtr3 Qtr4 Qtr1
2014 2015
TotalVCinvestment(US$M)
Total VC investment by region
Israel UK & Ireland
DACH Nordic
France Benelux
Iberia East. Eur.
South. Eur.
Syndicate for European & Israeli Enterprise Companies
12. Rounds by bracket & country
• To get a better sense of deal
volume, this analysis excludes
seed deals which are often
poorly reported
• Excluding seed deals, Israel
led the region in the number
of VC deals reported
• The UK and France followed
• Interestingly, France and the
UK saw an equal number of
early venture and growth
deals, but the UK saw 13
“venture deals” compared to
only 5 in France
12
@gdibner
blog: yankeesabralimey
17 15 15 15
8
4
18
13
5
2
3
9
9
9
3
2
2
0
5
10
15
20
25
30
35
40
45
50
Israel UK &
Ireland
DACH France Nordic Benelux Iberia East. Eur. South. Eur.
Numberofinvestments
Number of investments in Europe and Israel by bracket, 1Q 2015
Mega (>100) Growth (20-100) Venture (8-20) Early Venture (2-8)
Syndicate for European & Israeli Enterprise Companies
13. Investment by region, by bracket
• In 1Q, UK & Ireland led in
terms of total VC dollars
invested, even with mega-
rounds included
• Israeli was in second place,
DACH was third
• Excluding Sigfox’s $115M,
France came in fifth; including
it would catapult France
ahead of the Nordics
13
@gdibner
blog: yankeesabralimey
74 70 46 28 45
165 235
63 49
460
226
308
82
210
292
149
115
0
100
200
300
400
500
600
700
800
900
1,000
UK &
Ireland
Israel DACH Nordic France Iberia Benelux South. Eur. East. Eur.
Totalamountinvested(US$M)
Investment in Europe and Israel by bracket by region, 1Q 2015
(ranked excluding mega-rounds)
Mega (>100) Growth (20-100) Venture (8-20) Early Venture (2-8) Seed (<2)
Syndicate for European & Israeli Enterprise Companies
14. Participation rate of US VC firms, by bracket
• US VC firms are increasingly
active in the European and
Israeli VC markets
• Over the past nine months,
US VC firms participated in
16% of the venture rounds in
Europe
• US VCs participated in only
5% of seed rounds, 11% of
early venture rounds, and
24% of venture rounds
• As a company moves from
bracket to bracket, the
chance of US VC participation
doubles with each bracket
change
14
@gdibner
blog: yankeesabralimey
5%
11%
24%
44%
80%
95%
89%
76%
56%
20%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Seed (.5-2) Early Venture (2-8) Venture (8-20) Growth (20-100) Mega (>100)
Totalamountinvested(US$M)
Did US VC firms participate in European VC rounds? (3Q14-1Q15)
No Yes
Syndicate for European & Israeli Enterprise Companies
15. Rate of participation by US firms is declining
• As the pace of European and
Israeli VC investment
increased, the rate of
participation by US firms did
not keep pace
• Within rounds of between
$2M and $20M, US VC
participation dropped from
24% of rounds in October to
just 11% of rounds in March
15
@gdibner
blog: yankeesabralimey
10% 5%
17%
24%
17% 16% 19%
8% 11%
90% 95%
83%
76%
83% 84% 81%
92% 89%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Jul Aug Sep Oct Nov Dec Jan Feb Mar
Qtr3 Qtr4 Qtr1
2014 2015
Totalamountinvested(US$M)
Did US VC firms participate in European VC rounds? (3Q14-1Q15)
No Yes
Syndicate for European & Israeli Enterprise Companies
16. Participation of US VC firms by country
• In 1Q, US VCs firms were
active in 10 different
European countries, down
from 12 in 4Q
• US VC firms were most active
in Israel, where they
participated in 15 investment
rounds
• The UK saw 10 investments
with US VC participation,
double the number in 4Q
16
@gdibner
blog: yankeesabralimey
15
10
4
43 49
28
13 11 11 10
0
10
20
30
40
50
60
70
Israel
UK
Germany
Spain
Denmark
Switzerland
Netherlands
Sweden
Ireland
Austria
NumberofVCinvestments
In which countries are US VCs most active?
1Q, 2015
No US VC involved US VC involved
Syndicate for European & Israeli Enterprise Companies
17. Dimension Categories Explanation/Example
1. Target market
Consumer, SMB, Enterprise, Government,
Telecom, OEM
What sort of customer does the
company target?
2. Vertical market
Adtech, Communications, Data, Development, Durables,
Education, Electronics, Employment, Energy, Fashion,
Financial, Food, Gaming, Health, HMI, Industrial,
Infrastructure, Lifestyle, Logistics, Marketing, Media,
Productivity, Real Estate, Security, Sports, Storage,
Transportation, Travel, Water
What type of problem does the
company solve?
3. Business model
Commerce, Components, Content,
Marketplace, SaaS, Semiconductors,
Services, Software, Systems,
How does the company make
money? What are customers paying
for?
Combined segment descriptor Consumer + Travel + Marketplace
AirBnB has built a travel-related
marketplace for consumers 17
Three-dimensional approach to sector mapping
18. • The increase in venture
investment activity was seen
across both consumer and
enterprise
• Consumer deal volume
increased 65% from 4Q14 to
1Q15
• Enterprise deal volume
increased only 20% during
the same period
• SMB-oriented and OEM-
oriented investment volume
declined
18
@gdibner
blog: yankeesabralimey
475 595
980
494
794
951
78
133
122
78
114
47
0
500
1,000
1,500
2,000
2,500
Qtr3 Qtr4 Qtr1
2014 2015
TotalVCinvestments(US$M)
European & Israeli venture financing by target market
3Q14 to 1Q15 (in US $M)
Government
Telecom
OEM
SMB
Enterprise
Consumer
What target markets are attracting the most VC
investment in Europe & Israel?
Syndicate for European & Israeli Enterprise Companies
19. • Last quarter’s trend reversed
itself, with consumer-oriented
companies accounting for
43% of all VC investment in
Europe & Israel, up from 31%
• Enterprise dropped from 55%
to 47%
• Other categories declined,
with SEM, OEM, and
Government-oriented
companies nearly
disappearing from the deal
volumes
19
@gdibner
blog: yankeesabralimey
The return of consumer investment
54%
31%
43%
29%
55%
47%
5%
7%5%
6%7%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Qtr3 Qtr4 Qtr1
2014 2015
TotalVCinvestments(US$M)
European & Israeli venture financing by target market
3Q14 to 1Q15 (in US $M)
Government Telecom OEM SMB Enterprise Consumer
Syndicate for European & Israeli Enterprise Companies
20. Breakdown by region & target market
• The Israeli VC landscape
continued to be dominated
by non-consumer companies
• The DACH region saw a
return to the dominance of
consumer-oriented
companies in VC financing
• Sigfox’s massive round meant
that the majority of VC dollars
flowing into France went into
the telecom space – clearly
an anomaly
• The Nordics seemed to echo
Israel’s emphasis on
enterprise
• UK dealflow was split almost
evenly
20
@gdibner
blog: yankeesabralimey
464
80
504
55 50
407
670
64
80
122
60
46
115
0
100
200
300
400
500
600
700
800
900
1,000
UK & Ireland Israel DACH France Nordic Iberia Benelux
Totalamountinvested(US$M)
Investment in Europe and Israel by target market by country
1Q, 2015 (US $M)
Government Telecom OEM SMB Enterprise Consumer
Syndicate for European & Israeli Enterprise Companies
21. Distribution of investment rounds by country
• Across Europe & Israel, 47%
of VC investment rounds
were in consumer companies
in 1Q, up from 41% in 4Q
• Israel and Nordics were the
only geographies to see a
majority of investment rounds
happen into non-consumer
companies – for Israel that’s
normal, for the Nordic’s it’s a
reversal
• Most other European markets
saw 50-60% of rounds go
into consumer companies
21
@gdibner
blog: yankeesabralimey
26%
37%
52%
53%
56%
57%
67%
76%
100%
60%
47%
36%
29%
39%
41%
33%
18%
7%
9%
12%
3%
3%
6%
5%
7%
6%
6%
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Israel
Nordic
France
Benelux
UK & Ireland
DACH
South. Eur.
Iberia
East. Eur.
Investment in Europe and Israel by target market by country
1Q 2015 (Number of investments)
Consumer Enterprise SMB OEM Telecom Government
Syndicate for European & Israeli Enterprise Companies
22. Seed and growth swing back to consumer
• Unlike last quarter, a clear
majority of both growth deals
and seed deals were in
consumer-oriented
companies
22
@gdibner
blog: yankeesabralimey
59%
44%
43%
66%
31%
47%
57%
28%
5%
5%
6%
4%
4%
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Seed (<2)
Early Venture (2-8)
Venture (8-20)
Growth (20-100)
Investment in Europe (excluding Israel) by target market by stage bracket
1Q 2015 (Number of investments)
Consumer Enterprise SMB OEM Government
Syndicate for European & Israeli Enterprise Companies
23. DACH investors shift back to consumer
• DACH is clearly a region with
a record of strong consumer-
oriented investment
• In 4Q14 this began to
change, but this trend may
not be long-lived
• 1Q15 saw a majority of
investments in DACH go into
consumer companies
23
@gdibner
blog: yankeesabralimey
100%
67%
60%
40%
13%
57% 60%
33%
73%
17%
20%
40%
88%
43% 40%
67%
20%
20%
10%
7%
17%
10%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Jul Aug Sep Oct Nov Dec Jan Feb Mar
2014 2015
Investment in DACH by target market by stage bracket
July 2014 to March 2015 (Number of investments)
OEM SMB Enterprise Consumer
Syndicate for European & Israeli Enterprise Companies
24. The Nordics shift towards the enterprise…
• The Nordic region saw pretty
diverse investment patterns in
3Q14 and 4Q14, but in 1Q15
there was a clear shift
towards the enterprise
• Interestingly, but not
surprisingly, OEM-oriented
deals seemed to disappear
from the landscape almost
entirely
24
@gdibner
blog: yankeesabralimey
40%
25%
67%
83%
50%
64%
20%
50%
38%
60%
50%
17%
42%
27%
60%
50%
38%
8%
10% 14%
25%
17% 17%
9% 10% 10%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Jul Aug Sep Oct Nov Dec Jan Feb Mar
2014 2015
Investment in the Nordics by target market
July 2014 to March 2015 (Number of investments)
OEM SMB Enterprise Consumer
Syndicate for European & Israeli Enterprise Companies
25. …especially in terms of dollars invested
• When we look at dollars
investment as opposed to the
number of investments, the
trend in the Nordics is even
clearer
• Interestingly, but not
surprisingly, OEM-oriented
deals seemed to disappear
from the landscape almost
entirely (from 40% in August
to just 4% in March)
25
@gdibner
blog: yankeesabralimey
32%
11%
72% 75%
44%
52%
44%
20%
12%
68%
49%
6%
55%
24%
54%
80%
72%
12%
40%
21% 25% 24%
4%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Jul Aug Sep Oct Nov Dec Jan Feb Mar
2014 2015
Investment in the Nordics by target market
July 2014 to March 2015 (Total US $M invested)
OEM SMB Enterprise Consumer
Syndicate for European & Israeli Enterprise Companies
26. About 40% of French VC deals were enterprise…
• In France, the ratio of
enterprise deals to consumer
deals seems roughly constant
from September 2014 to
March 2015
26
@gdibner
blog: yankeesabralimey
100% 100%
50% 46%
58%
50%
62% 60%
46%
38%
38%
33% 50% 31%
40%
46%
15%
8%13%
8% 8%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Jul Aug Sep Oct Nov Dec Jan Feb Mar
Qtr3 Qtr4 Qtr1
2014 2015
VC Investment in France by target market
July 2014 to March 2015 (Number of investments)
OEM SMB Enterprise Consumer
Syndicate for European & Israeli Enterprise Companies
27. …but money increasingly flows to enterprise
• When the data is presented
by the amount of dollars, it
becomes clear that more and
more of French VC dollars are
flowing towards enterprise-
oriented companies
27
@gdibner
blog: yankeesabralimey
100% 100%
59%
44%
65%
77%
33% 31%
19%
23%
46%
10%
23%
64% 69%
74%
10%
25%
18%
3% 7%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Jul Aug Sep Oct Nov Dec Jan Feb Mar
2014 2015
VC Investment in France by target market
July 2014 to March 2015 (Number of investments)
OEM SMB Enterprise Consumer
Syndicate for European & Israeli Enterprise Companies
28. • 4Q saw a reshuffling of
popular verticals
• Market, lifestyle, adtech and
infrastructure were the most
often funded verticals across
Europe & Israel
• Finance dropped to the fifth
slot
28
@gdibner
blog: yankeesabralimey
Marketing displaced finance as the top vertical
Marketing, 20
Lifestyle, 18
Adtech, 17
Infrastructure, 17 Financial, 15
Electronics, 14
Employment, 13
Security, 11
Travel, 11
Communications, 10
Productivity, 10
Development, 10
Health, 10
Logistics, 10
Data, 9
Education, 9Fashion, 9Payments, 6
Gaming, 5
ERP, 5
European & Israeli venture financing by target market
1Q 2015 (number of investments)
Syndicate for European & Israeli Enterprise Companies
29. • Enterprise and SMB
marketing companies were
the most popular category of
investment across Europe &
Israel
• Various consumer lifestyle
companies were the second-
most popular category
• Adtech, despite falling
dramatically out of favor in
the US, took the third slot
• Infrastructure companies
(mostly for the enterprise)
took the fourth slot
• Fintech was dominated by
consumer companies
29
@gdibner
blog: yankeesabralimey
Health
Development
Productivity
Logistics
Communicati…
Security
Travel
Employment
Electronics
Financial
Infrastructure
Adtech
Lifestyle
Marketing
0 5 10 15 20 25
European & Israeli venture financing by target market
1Q, 2015 (number of investments, top 10 verticals)
Consumer
Enterprise
SMB
OEM
Telecom
Government
Which verticals for which segments?
Syndicate for European & Israeli Enterprise Companies
30. • Not surprisingly, enterprise
infrastructure and security
were the most popular
categories for investment in
Israel
• Adtech took the third spot
• Consumer communications
companies and enterprise
marketing companies were
two other popular categories
30
@gdibner
blog: yankeesabralimey
A closer look at Israeli venture in 1Q15
Health
Education
ERP
Lifestyle
Payments
Financial
Development
Marketing
Productivity
Communications
Adtech
Security
Infrastructure
0 1 2 3 4 5 6 7 8 9
Israeli venture financing by target market
1Q, 2015 (number of investments, top 10 verticals)
Consumer
Enterprise
SMB
OEM
Telecom
Syndicate for European & Israeli Enterprise Companies
31. • In 1Q15, the most popular
vertical in the UK was
consumer fintech
• Adtech was the second most
popular vertical
• Consumer fashion and
consumer durables were also
popular categories for UK
VCs in 1Q
31
@gdibner
blog: yankeesabralimey
Consumer fintech led the UK
Infrastructure
Lifestyle
Logistics
Music
Marketing
Security
Real Estate
Communications
Durables
Travel
Fashion
Employment
Health
Adtech
Financial
0 1 2 3 4 5 6 7
UK venture financing by target market
1Q, 2015 (number of investments, top 10 verticals)
Consumer
Enterprise
SMB
OEM
Syndicate for European & Israeli Enterprise Companies
32. • In terms of dollars invested
during 1Q15, services (31%)
and commerce (18%) were
the leaders
• Software and SaaS came in
third and fourth, respectively
• Marketplace business models
took fourth place, with 10%
of invested capital
• Physical products (systems,
components, and
semiconductors) accounted
for only 4% of total
investment combined, down
from 14% in 4Q14
32
@gdibner
blog: yankeesabralimey
Services, 666, 31% Commerce, 389, 18%
Software, 374, 18%
SaaS, 332, 16%
Marketplace, 206, 10%
Media, 57, 3%
Systems, 49, 2%
Components, 18, 1%
Semiconductors, 15, 1%
European & Israeli venture financing by target market
1Q, 2015 (in US $M) (excluding mega-rounds)
Service models led the pack in 1Q
Syndicate for European & Israeli Enterprise Companies
33. • Service-style business models
have been exploding in
popularity across Europe &
Israel
• Part of this may be due to
how the community is
starting to characterize
companies – things that
might have been described
previously as software (i.e.
apps) are increasingly being
characterized by the
underlying service delivered
(education, logistics, etc.)
• E-commerce has also seen a
resurgence in 1Q15
33
@gdibner
blog: yankeesabralimey
Services are exploding
0
100
200
300
400
500
600
700
Qtr3 Qtr4 Qtr1
2014 2015
European & Israeli venture financing by business model
3Q14 to 1Q15 (in US $M, excluding mega-rounds)
Software
SaaS
Services
Marketplace
Commerce
Syndicate for European & Israeli Enterprise Companies
34. US VCs focused on SaaS, software, and services
• US VC firms investing in
Europe & Israel continued to
focus mainly on SaaS,
software, and services
• Last quarter, no commerce-
oriented companies in
Europe or Israel attracted US
VC interest – this quarter US
VCs backed five companies in
that category
• Components, and
semiconductors attracted
almost no interest from local
VCs, and no interest at all
from US VCs
• Marketplaces attracted US
VCs in only two cases
34
@gdibner
blog: yankeesabralimey
12 11
7 5 2 2
46 47 54
17 25
21
18
0
10
20
30
40
50
60
70
Services Software SaaS Commerce Marketplace Systems Media Components Semiconductors
VC Investments in Europe & Israel
1Q, 2015 (number of investments)
No US VC involved US VC involved
Syndicate for European & Israeli Enterprise Companies
35. • Enterprise marketing SaaS
was the most popular
segment for VC investment in
1Q15 with 17 investments
across the region
• Consumer electronics systems
was the second most popular
segment, with 11 investments
• The UK was the clear leader
in consumer financial
services.
• Israel completely dominated
the enterprise security
software segment
35
@gdibner
blog: yankeesabralimey
0 2 4 6 8 10 12 14 16 18
Consumer Employment Marketplace
Enterprise Development SaaS
Enterprise Infrastructure Software
Enterprise Development Software
Enterprise Adtech Services
Enterprise Data Software
Consumer Lifestyle Commerce
Consumer Lifestyle Media
Enterprise Employment SaaS
Consumer Fashion Commerce
Consumer Education Services
Enterprise Security Software
Consumer Financial Services
Consumer Electronics Systems
Enterprise Marketing SaaS
Number of VC investments
Investment in Europe & Israel by segment by country
1Q15 (segments with 5 or more investments)
UK & Ireland Israel
Nordic DACH
France Benelux
Iberia South. Eur.
East. Eur.
Enterprise marketing & consumer electronics
Syndicate for European & Israeli Enterprise Companies
36. • Across Europe & Israel, US VC
firms invested in 21 enterprise
companies, 11 consumer
companies, and 1 SMB
company
• In the consumer space, US
VC interest was concentrated
on UK services companies
and DACH commerce
companies
36
@gdibner
blog: yankeesabralimey
0 1 2 3 4 5 6 7 8 9 10
SaaS
Media
Commerce
Services
Marketplace
Systems
SaaS
Services
Software
SMBConsumerEnterprise
US VC Investments in Europe and Israel by end market,
business model, & country, 1Q 2014
Israel
UK & Ireland
DACH
Iberia
Nordic
What business models attract US VC investments?
Syndicate for European & Israeli Enterprise Companies
37. Focus on dev tools: everywhere you look
• Over the past nine months,
22 dev tooling companies
raised VC money across
Europe & Israel
• These companies were
distributed across ten
countries
• Israel led the pack with 6; UK
and the Netherlands each
saw 3, Germany and Estonia
each saw 2
37
@gdibner
blog: yankeesabralimey
0
1
2
3
4
5
6
7
Jul Sep Oct Nov Dec Jan Feb Mar
2014 2015
Numnberofinvestment
Development tools VC investment in Europe and Israel
3Q14 to 1Q15, Number of investments
Ireland France Latvia Norway Sweden
Estonia Germany Netherlands UK Israel
Syndicate for European & Israeli Enterprise Companies
38. Focus on services: what’s behind the boom
• 49 services-oriented
companies raised VC
financing across Europe &
Israel in 1Q15
• Finance, education, and
communications were the
most popular verticals for
consumer-oriented services
companies
• Adtech was the only services
vertical with significant
enterprise investment
38
@gdibner
blog: yankeesabralimey
0 2 4 6 8 10 12 14
Entertainment
Lifestyle
Social
Music
Infrastructure
Logistics
Payments
Communications
Adtech
Education
Financial
Services-oriented VC investment in Europe and Israel
by vertical and target market, 1Q 2015 (top 10 verticals)
Consumer Enterprise SMB Telecom
Syndicate for European & Israeli Enterprise Companies
39. Focus on enterprise SaaS: verticals by country
• Marketing remained in the
top spot within enterprise
SaaS, but data dropped from
second place to fifth
• Employment and HR-related
SaaS offerings were the
second-most popular
category within enterprise
SaaS
• Development tooling SaaS
offerings were the third most
popular category
• Enterprise infrastructure, the
fourth most popular
category, saw only Israeli
companies get funded
39
@gdibner
blog: yankeesabralimey
0 5 10 15 20
Logistics
Productivity
Travel
CRM
Communications
Security
Health
Data
ERP
Adtech
Infrastructure
Development
Employment
Marketing
Enterprise SaaS VC investment in Europe and Israel
by vertical by country, 1Q 2015 (number of investments)
Israel France
UK Germany
Denmark Estonia
Sweden Netherlands
Lithuania Norway
Austria Ireland
Syndicate for European & Israeli Enterprise Companies
40. Based in , I was previously a partner at . Before that, I helped run the
European seed program for . I moved to London after seven years in
during which I worked as a VC with and . I’m originally from .
My VC investments include and .
Angel investments include and three more that haven’t been announced yet.
If you found this useful, I hope you’ll subscribe to my blog.
40
Gil Dibner
To invest in the best European & Israeli enterprise startups,
consider backing me on here. Lots of exciting stuff in the
pipeline – and you’ll be in pretty good company.