2022 European Capital Report - Cover Page Preview

The 2022 European Capital Report

Most Powerful Investment Funds in Europe


  • 550 European VCs
  • 272 European PEs
  • 61 Newcomer Funds 2022
  • 146 Non-European Investors with European Presence

— Ranked by AuM and Investment Activity 2021
— Clustered by Stage and Industry Focus


    The European Capital Map 2022

    As a record-breaking year in many ways, 2021 brought staggering tech valuations and created many new unicorns. In parallel, the number of newly founded investors in Europe slowed down significantly. With 61 new European funds established in the last 12 months, the total number of players is now at 817. This report sheds light on the investors shaping Europe’s venture capital and private equity ecosystem. In funding the most promising Startups, they play an essential role in our economic future and create an impact well beyond the continent’s borders.

    Download the free report and get your hands on everything you need to know about Europe’s most powerful investment funds!

    This is version 2.2 – edited in June 2022 | The data freeze for version 2.2 was June 2022

    Most Powerful Investment Funds – DACH Region

    Germany, Austria, Switzerland and Liechtenstein

    TOP 10 VCs

    based on AuM

    1. Target Global

    2. HV Capital

    3. Earlybird Venture Capital

    3. Global Founders Capital

    3. Lakestar

    6. DTCP

    6. MIG Verwaltungs AG

    6. Wellington Partners

    9. High-Tech Gründerfonds

    10. Redalpine Venture Partners

    TOP 10 PEs

    based on AuM

    1. Partners Group

    2. Schroder Adveq Management

    3. Lindsay Goldberg Europe

    4. Bregal Unternehmerkapital

    5. Capvis

    6. SwanCap

    7. Deutsche Beteiligungs AG

    8. Franz Haniel & Cie

    9. DPE Deutsche Private Equity

    10. Quadriga Capital

    Logo Map DACH Region
    Infographic DACH Region

    Most Powerful Investment Funds – UK & Ireland

    TOP 10 VCs

    based on AuM

    1. Atomico

    1. Balderton Capital

    3. BGF

    4. Octopus Investments

    5. Octopus Ventures

    6. Highland Europe

    7. 83North

    8. Northzone

    9. Scottish Equity Partners

    10. Anthemis Group

    TOP 10 PEs

    based on AuM

    1. Intermediate Capital Group

    2. Permira

    3. Apax Partners

    4. HG Capital

    5. Bridgepoint

    6. BC Partners

    7. Cinven

    8. 3i Group

    9. Triton

    10. Capital Dynamics

    Logo Map UK & Ireland
    Infographic UK & Ireland

    Most Powerful Investment Funds – Northern Europe

    Sweden, Denmark, Finland, Norway, Estonia and Iceland

    TOP 10 VCs

    based on AuM

    1. Novo Holdings

    2. Verdane

    3. EQT Ventures

    4. Investinor

    5. Industrifonden

    6. Heartcore Capital

    7. Gullspang Re:food

    8. Inventure

    9. Nordic Eye Venture Capital

    10. Equinor Ventures

    TOP 10 PEs

    based on AuM

    1. Nordic Capital

    2. Kinnevik

    3. Altor Equity Partners

    4. HitecVision

    5. CapMan

    6. FSN Capital

    7. Summa Equity

    8. Cubera

    9. Norvestor

    10. Polaris Private Equity

    Logo Map Northern Europe
    Infographic Northern Europe

    Most Powerful Investment Funds – BENELUX Region

    Belgium, The Netherlands, Luxembourg

    TOP 10 VCs

    based on AuM

    1. Forbion

    2. Mangrove Capital Partners

    3. Prime Ventures

    4. Rabo Corporate Investments

    5. M Ventures

    6. Endeit Capital

    7. Inkef Capital

    8. Hummingbird Ventures

    9. ING Ventures

    10. Innovation Industries

    TOP 10 PEs

    based on AuM

    1. CVC Capital Partners

    2. Sofina

    3. Waterland Private Equity

    4. Cobepa

    5. Main Capital Partners

    6. Egeria

    6. Ergon Capital Partners

    6. Gimv

    9. Gilde Healthcare Partners

    10. Life Sciences Partners

    Logo Map BENELUX Region
    Infographic BENELUX Region

    Most Powerful Investment Funds – Southern Europe

    France, Spain, Italy, Portugal, Monaco and Cyprus

    TOP 10 VCs

    based on AuM

    1. Sofinnova Partners

    2. Partech

    3. Arkea Capital

    3. AXA Venture Partners

    3. Ventech

    6. Iris Capital

    7. Seventure Partners

    8. Alven Capital Partners

    9. Kurma Partners

    10. XAnge

    TOP 10 PEs

    based on AuM

    1. Ardian

    2. Tikehau Capital

    3. Eurazeo

    4. Antin Infrastructure Partners

    5. PAI Partners

    6. Astorg

    7. Idinvest Partners

    8. SWEN Capital Partners

    9. Naxicap Partners

    10. Andera Partners

    Logo Map Southern Europe
    Infographic Southern Europe

    Most Powerful Investment Funds – Eastern Europe

    Ukraine, Poland, Czech Republic, Lithuania, Slovakia, Hungary, Croatia, Malta, Romania, Bulgaria and Latvia

    TOP 10 VCs

    based on AuM

    1. Hiventures

    2. PortfoLion Capital Partners

    3. Credo Ventures

    4. Impulse Ventures

    4. KAYA VC

    6. Practica Capital

    7. Aria

    8. Fil Rouge Capital

    9. Neulogy Ventures

    10. Early Game Ventures

    TOP 10 PEs

    based on AuM

    1. Enterprise Investors

    2. Innova Capital

    3. MCI

    4. EnerCap

    5. ARX

    5. Jet Investment

    7. Axxess Capital

    8. GB & Partners

    9. Euroventures

    10. Quaestus

    Logo Map Eastern Europe
    Infographic Eastern Europe

    Newcomers 2022


    The full report includes detailed information on all featured VCs & PEs as well as portraits on the newcomer funds 2021, and includes a search index clustered by stage and investment focus.

    Previous Publications

    About the Publishers

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    As an international tech M&A, corporate finance advisory, investor and venture builder, the primary focus of i5invest/i5growth is to support growth and manage corporate development and cross-border M&A processes for extraordinary tech companies. Operating out of Berlin, Palo Alto, San Francisco and Vienna, i5 has set up over 150 strategic partnerships and international M&A transactions with companies such as Google, Microsoft, Salesforce, Verizon, Verisign, Samsung, Cisco, Telefonica, NBC, Naspers, Volkswagen, Amdocs, IAC, Pfizer/Zoetis, Nvidia, Airbus, Toronto Stock Exchange and many other global tier 1 technology giants.
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    Since its foundation in 2015, the goal of the WU Entrepreneurship Center is to show how starting a business can open up attractive perspectives for careers and personal development. The WU Entrepreneurship Center promotes, develops, and celebrates entrepreneurship, i.e. the entrepreneurial mindset and innovation as key skills for the 21st century. In this way, the WU Entrepreneurship Center acts as an ecosystem developer and think tank that helps to develop the full potential of university-affiliated start-ups.



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