Funding down, exits muted, and valuations flat in rough quarter for European startups

It’s been a rough start to 2023 for European startups. In the first quarter of the year, dealmaking decelerated, valuations flattened, and exits remained subdued, according to new research. Analysts from PitchBook, a financial data firm, found that investor priorities have shifted from growth at all costs to profitability. After a boom in VC activity that trickled into early 2022, reports of lower growth rates, workforce reductions, and tougher funding conditions have emerged. As a result, due diligence processes have lengthened, with revenues, valuations, and runways under heightened scrutiny. Nalin Patel, the report’s author, noted that investors across the board…

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