European investment hit record high in 2020, despite Covid-19
Several start-ups raised more than €500m in funding, making 2020 a record-breaking year for investment value in Europe. Despite the economic fallout from the Covid-19 pandemic, venture capital (VC) deals in Europe remained incredibly strong last year. According to Pitchbook’s European Venture Report for 2020, the overall VC deal value reached a new annual record of €42.8bn in 2020, a year-on-year increase of almost 15pc compared to 2019. Last year, these larger deals represented almost 62pc of total deals, which amounted to €26.5bn in capital investments. While CureVac secured the largest deal, investment in biotech and pharma start-ups as a whole jumped by more than 40pc year-on-year.