European venture capital funding on line to hit highest level since 2007

Venture capital funding for technology in Europe sustained its upward surge in Q2 2013 with deals continuing to be signed across the board and funding at its highest level in six years.

Figures from Dow Jones VentureSource showed Q2 2013 followed in the footsteps of the first three months of the year and if the trend continues for the rest of the year, it will be strongest one for technology venture capital deals since 2007.

The Wall Street Journal, which is published by Dow Jones, reported that “based on the first two quarters of the year, about 870 deals could be done in 2013 for a total investment of around $4 billion [£2.6 billion]”.

High-Tech Gründerfonds (HTGF) topped the list of deals completed for the second consecutive quarter with 13 done. Three other companies made the list of the top nine most active investors for a second quarter in a row in the shape of SEED Capital Denmark, CDC Enterprises, and Index Ventures – all with seven deals apiece.

Of those four firms, three are focused almost exclusively on certain countries: HTGF on Germany, CDC Enterprises (France) and SEED Capital Denmark. The three also have an association with public funding, according to Tech City News.

Index Ventures, however, works across Europe with offices in London and Geneva, and invests between €250,000 [£218,187] and €50 million [£43.6 million] in technology companies.

Other venture capital funds on the Q2 2013 list include Enterprise Ireland with 11 deals, Sunstone Capital with nine, IDInvest Partners and Techstars who each closed seven deals, and Ventech closing out the top nine for Q2 with six deals.

Dow Jones VentureSource data revealed earlier this month that after the initial injection of venture capital follow up funding is becoming increasingly hard to find.

One country not included in the European data is one of the largest havens for startups – Israel. Companies in the country received a boost just yesterday in the shape of YL Ventures’ latest tech war chest and aren’t included in the data Dow Jones VentureSource gives for European venture capital investment.

Image credit: Flickr (Jason Barles)