Stephen Page. Image: SFC Capital
The latest data from PitchBook shows how the UK is leading the VC funding space in Europe, with Norwich-based SFC Capital topping the list.
As fears around a tech funding crisis cools down, venture capital research firm PitchBook has good news for entrepreneurs in Europe. The continent’s venture ecosystem has notched its first quarterly increase in total capital raised since the first quarter of 2022.
According to PitchBook data published this week, more than €16bn had been invested in the second quarter of this year, as of 15 June. This is already higher than the €13.2bn raised in the previous quarter, assuaging fears around an ongoing tech funding crisis in Europe.
And now, PitchBook has revealed the names of the top 10 most active VC firms in Europe so far this year, led by UK-based SFC Capital. In fact, four of the top 10 firms are based in the UK, while two are based in countries outside the continent.
Based in Norwich, SFC Capital started off as Startup Funding Club back in 2012. It was founded by CEO Stephen Page, a veteran in the UK’s software industry with 40 years of experience as an entrepreneur, investor and fund manager.
In an article written for SiliconRepublic.com in 2020, Page discussed investment in the time of Covid, and why founders should take their time and not try to do everything themselves.
SFC was followed by Singapore-based Antler, which was also identified by Crunchbase as a top seed stage funder in Europe recently, and the European Innovation Council (EIC) based in Brussels.
The EIC is the only non-private VC body on Pitchbook’s list and boasts median round sizes of nearly €10m – only behind New York-based FJ Labs’ €10.5m, which placed ninth on the list.
Kima Ventures and Fuel Ventures finish off the top five spots in the list. Based in Paris, Kima was also featured in last year’s PitchBook list of top domestic funders in Europe, placing just behind Enterprise Ireland and Bpifrance. Meanwhile, London-based Fuel has previously led funding for a number of Irish start-ups, including former Start-up of the Week Hiiker.
Next on the list was German early-stage VC investor High-Tech Gründerfonds, followed by London’s Octopus Ventures, which has led funding for Irish-founded tech leasing start-up Raylo.
CDP Venture Capital, an Italian VC firm based in Rome, placed eighth on the list, coming just ahead of New York’s FJ Labs, which has previously funded Irish ‘soonicorn’ Fonoa. At number 10 was another UK-based VC firm, FSE Group.
Another PitchBook report from February found that the IT sector accounted for nearly half of all European VC deals in 2022, with significant rises in the energy sector.
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