Today things look a little brighter here in Europe for all us concerned with the PE/VC markets. Out today is the European Private Equity Barometer for Q2 2008 which was compiled by Incisive Media and sponsored by Candover. The broad strokes: Total value of deals is up 15% versus Q1, with volume increasing by 9% over the same time frame. Hopefully for all of use who’ll be graduating relatively soon this trend continues!
I pointed out yesterday that growth capital is an exciting space in Europe right now and I feel somewhat vindicated as the figures show that the Q2 increases were largely driven by growth capital which saw a record 6B euros in deals done, which is a rise of a whopping 238% over Q1 (I’ll go out on a very short limb and predicate that record won’t fall next quarter). Volume for growth capital was up 17% to 128 deals which is getting back to historical averages for Europe. It’s interesting to note that there were six growth deals valued at over 100M euros, while the largest deal in Q1 topped out at 88M euros.
Admittedly the value numbers were skewed a scosh as some of the bigger players in Europe “shifted” elements of their strategy in response to the, yep you guessed it, credit crunch. It’ll be interesting to see how these firms handle these investments in the years to come.
Here’s the report for all to read: Unquote European Private Equity Barometer Q2 2008