European Venture Capital: From Momentum to Scale 

At Invest Europe's Venture Capital Forum 2026 in Amsterdam on 14-15 October 2026, investors explored performance, fundraising, liquidity and the path to global VC leadership. The European venture capital community gathered at the Felix Meritis in Amsterdam over two days during which LPs, GPs and industry leaders explored the forces shaping European venture capital: investment performance, capital allocation, emerging technologies, value creation, liquidity and the conditions needed to build the next generation of global champions. 

One overarching message emerged: Europe has the talent, innovation and investment expertise to compete globally. The challenge now is to turn these strengths into sustainable scale. 

A strong foundation, with room to grow 

European venture capital has demonstrated its ability to generate attractive long-term returns and support world-class innovation. 

Yet the fundraising environment remains challenging. Institutional capital is increasingly selective, competition for allocations to established managers is intensifying, and emerging managers face significant barriers to growth. 

The discussions highlighted the need to mobilise more private institutional capital, broaden the investor base and develop financing structures as well as European capital markets that can support European companies throughout their growth journey. 

The ambition is not simply to attract more capital, but to create the conditions for that capital to be deployed effectively over the long term. 

Turning innovation into global leadership 

From AI and deep tech to healthcare, life sciences and other strategic sectors, Europe has a wealth of scientific expertise and entrepreneurial talent. 

The challenge is ensuring that promising companies can access the capital, markets and expertise they need to scale internationally. Through the testimonial from Argenx, the Forum offered a compelling illustration of what is possible when ambitious founders, committed investors and long-term vision come together. 

It also raised a fundamental question for the European ecosystem: How can Europe create more global champions - and capture more of the economic and societal value they generate? 

Value creation goes beyond capital 

As the venture capital industry evolves, so does the role of the GP. 

Investment firms are increasingly combining financial expertise with operational capabilities, specialist networks and strategic support to help portfolio companies navigate critical stages of growth. 

AI is accelerating this transformation, from deal sourcing and due diligence to portfolio monitoring and operational efficiency. 

But technology alone is not a differentiator. 

Investment judgement, sector expertise, strong governance and trusted relationships with founders remain at the heart of sustainable value creation. 

Liquidity: a priority for the entire ecosystem 

Liquidity was another recurring theme throughout the Forum. 

Longer holding periods and a challenging exit environment continue to affect distributions, capital recycling and fundraising. While M&A and IPOs remain essential exit routes, direct secondaries and continuation vehicles are creating additional opportunities for investors to manage liquidity and retain exposure to promising companies. 

The discussions reinforced the importance of developing a more mature, transparent and diversified European liquidity ecosystem. 

Returning capital is not only an outcome of successful investing; it is also essential to financing the next generation of innovation. 

From European strengths to global scale 

Across the Forum's plenary discussions, sector roundtables and dedicated LP and GP exchanges, a common ambition emerged: strengthening Europe's position as a globally competitive venture capital ecosystem. 

Achieving this will require a combination of long-term investment, deeper institutional participation, disciplined value creation, more effective liquidity solutions and a shared willingness to back European companies with global ambitions. 

Europe has strong foundations. The opportunity now is to build on them - with greater ambition, stronger collaboration and a long-term perspective. 

Thank you to our speakers, moderators, sponsors and participants for contributing to two days of insightful discussions and meaningful connections. 

We look forward to continuing the conversation and welcoming the European venture capital community back to Amsterdam for the Venture Capital Forum 2027. =

In the meantime, we encourage members of the VC community – members and non-members alike – to participate in our ‘Investing in Europe’s Quiet Power’ communication campaign, promoting European VC GPs and their outperformance to institutional investors in North America, the Middle East and Asia.

Confidentiality note: The Forum's discussions were held under the Chatham House Rule. Detailed data, individual contributions and quotations are reserved for participants and are therefore not reproduced in this public summary.