In an Europe-wide, quarterly survey, we assess the current sentiment of venture capital investors and business angels, as well as their current outlook for the coming quarter. Unregulated private investors (such family offices, high-net-worth-individuals and top-managers), as well as regulated (institutional) investors have a strong impact on the speed of development and disruptiveness of European innovation. On the other hand, European and regional governments have implemented a range of mechanisms, designed to support and foster innovation in specific fields and encourage private co-investments. It is a rather intransparent market, where dynamics of valuations, the climate to raise funds and the quality of deal flow is sensed only by very active investors in all kinds of stages, regions and industries.
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