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2019 Key Findings
The amount of funds raised by European private equity and venture capital managers, including breakdowns on stage focus, sources of funds by type of institutional investor and geographic source.
Total Fundraising
Total fundraising in Europe during 2019 reached €109bn, growth of 6% from 2018 and the highest total of the past decade. 578 funds raised capital during the year, 4% above the average of the previous five years.
Pension funds
Pension funds provided 29% of funds, followed by fund of funds & other asset managers (19%), and family offices & private individuals (13%). North America provided the most capital raised (28%), followed by France & Benelux (26%).
Buyout
Buyout fundraising increased 15% year-on-year to €79bn in 2019. Capital from outside of Europe remained an important source (55%), whilst France & Benelux were key within Europe (21%). Total fundraising for buyout funds reaching final closing hit a record €75bn.
Venture
Venture fundraising reached €15bn in 2019, 17% growth from 2018. The top three sources of funds were government agencies (20%), family offices & private individuals (19%), and corporate investors (14%). France & Benelux continued as the principle source of capital (36%).
Growth capital
Growth saw an 11% drop year-on-year to €9bn, though the figure for 2019 remained about 50% above the average for the previous five years, and the per fund amount of capital raised remained in line with recent history.
Incremental amounts raised during 2019
2019 fundraising at a glance
| 2019 | All private equity | Venture capital(1) | Buyout(1) | Growth(1) |
| Incremental - Amounts raised | €109bn | €15bn | €79bn | €9bn |
| Incremental - No. of funds | 578 | 246 | 119 | 104 |
| Final closings - Cumulative amount since inception | €97bn | €10bn | €75bn | €9bn |
| Final closings - No. of funds | 229 | 105 | 74 | 27 |
Source: Invest Europe/EDC
Note: (1) relates to fund focus
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Meet the team
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Julien Krantz
Research
Research Director
Daniel Irwin-Brown
Research
Research Manager
Ariane Mortelmans
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Senior Research Officer