1、LOGOS SPACINGYEAR/EXTRA LABELTITLEGRAPH TITLEGRAPH/MAIN CONTENTFOOTERGRAPH 1GRAPH 2EXTRA CONTENTALIGN HERE EXTRA CONTENT/SOURCES/INSPIRATIONTILES WITH SHADOWALIGN HERE TEXT BOXESUSE THESE FOR ANY TEXT BOXBUTTONSALIGN HEREPALETTESALIGN HERE TILES/POINTERSALIGN HERE European tech ascendancyUnlocking a

2、 continents innovation potentialJuly 2023FINTECHIMPACTMRKTPLCSFOODTECHDEALROOMSIGNALTitle H1SubtitleParagraphValuesCaptionCall to actionCall to actionTitle AdsCover TtlQuoteWit titleNNNNFrontier techCreandumPage/2 LOGOS SPACINGYEAR/EXTRA LABELTITLEGRAPH TITLEGRAPH/MAIN CONTENTFOOTERGRAPH 1GRAPH 2EXT

3、RA CONTENTALIGN HERE EXTRA CONTENT/SOURCES/INSPIRATIONSource:Europe now possesses all the essential ingredients for this continued revolution:a wealth of talent,a maturing ecosystem and entrepreneurial role models for the coming generations.By harnessing these strengths,Europe can lead the world in

4、new innovation in all sectors.At Creandum,our belief is that any industry can be disrupted by the right entrepreneur.We have seen first hand how software has been a catalyst for disruption,accelerating the pace of innovation across various sectors.However,in the end it is the individual entrepreneur

5、 who will determine the success or failure of a venture.Success can now come from anywhere and we are ready.”Over the past two decades,Europes tech scene has undergone a seismic shift,moving from an outsider to a global challenger.At Creandum,we have witnessed and supported the transformation firsth

6、and and firmly believe that Europe is now poised to take the lead in the next wave of entrepreneurship.During our 20 years of backing visionary entrepreneurs with global ambitions,the European startup scene has evolved massively.Global,European born,leaders have emerged such as Spotify,Klarna,Adyen,

7、UiPath and Revolut.We started in the Nordics and over time expanded our presence in the rest of Europe with hubs now in Stockholm,Berlin,London and a US presence in San Francisco.We look forward to the next 20 years of tech in Europe which we believe will be shaped by continuous innovation,both in e

8、xisting verticals such as FinTech,SaaS,Climate etc,but also in new and unknown areas yet to be defined.“Backing European tech in its 20-year rise and beyond.Staffan HelgessonGeneral Partnerat CreandumDESIGN CONTENTForeword:Europes moment to lead the world in Frontier TechPage/3 Source:EXTRA CONTENTA

9、LIGN HERE EXTRA CONTENT/SOURCES/INSPIRATIONLOGOS SPACINGYEAR/EXTRA LABELTITLEGRAPH TITLEGRAPH/MAIN CONTENTFOOTERGRAPH 1GRAPH 2Founded in 2003,Creandum is a leading pan-European early-stage venture capital firm.The funds portfolio of 120+companies includes some of Europes most successful tech compani

10、es across a wide range of industries,including Spotify,Klarna,Depop,Kry,Trade Republic,Pleo,and Vivino.Today,every sixth company is a unicorn.Creandums advisory teams are based in Stockholm,Berlin,London and San Francisco.To learn more visit .Dealroom.co is the foremost data provider on startup,earl

11、y-stage and growth company ecosystems in Europe and around the globe.Founded in Amsterdam in 2013,we now work with many of the worlds most prominent investors,entrepreneurs and government organizations to provide transparency,analysis and insights on venture capital activity.Global startup&venture c

12、apital intelligence platform.Reparcar,velyvelo Add also these logos:linkLeading pan-European early-stageventure capital firm.Page/4 LOGOS SPACINGYEAR/EXTRA LABELTITLEGRAPH TITLEGRAPH/MAIN CONTENTFOOTERGRAPH 1GRAPH 2EXTRA CONTENTALIGN HERE EXTRA CONTENT/SOURCES/INSPIRATIONSource:17%13%12%8%7%6%37%Key

13、 TakeawaysEurope has grown from a footnote on the tech scene in the early 2000s to a global tech challenger.With its university excellence and increasing diversification in unicorns,Europe is well placed to be at the centre of innovation in years to come.Europe now attracts 20%of global VC funding,u

14、p from 5%two decades ago.At seed stage,it even attracts a third of all global seed funding.The European tech ecosystem has grown massively in the last decade to$2.5T in combined value.Europe now has global challengers and leaders in all new tech segments.Fintech,Health and Enterprise Software have d

15、ominated VC funding in Europe in the last 20 years(c.40%of all VC investing between 2003-2023).Europes development means it is central in the emergence of new sectors,including in Climate Tech and all supercharged by AI.Europe has all the elements to be a leader in the next 20 years of tech:an exper

16、ienced VC scene,seasoned entrepreneurs formed in unicorn factories such as Spotify and Klarna,and a strong engineering and scientific talent pool.Half of the worlds top science clusters are in Europe and Europe is investing as much as China and the rest of the world combined in new technologies.Euro

17、pes share of global VC fundingKey pillars for Europe success in the next 20 years of techDESIGN CONTENTDealroom.co 2023 Data as of 2nd June 2023 *More details page 13Net-zero and ESGDistribution:agents and embedded insuranceCyber and cryptoPrevention:IoT and rewarding behaviorsSilver economyHalf of

18、the worlds top science clustersStartup Mafias creating new generation of seasoned founders.Attracting nearly 20%of total funding and nearly 30%of seed stage oneEurope has all the skills,research and need for this type of tech-this is Europes opportunity to lead the world in the next decade and more.

19、Europes expertise and strength in Fintech,SaaS and Health continue to be ripe for disruption.New sectors such as Climate are also emerging.Share of venture capital funding by industry(2003-2023)MarketingTelecomMediaFashionSecurityReal EstateTravelGamingEducationRoboticsSpaceSemiconductorsOtherOthers

20、*All stagesSeed5%16%8%28%2003 2023FintechHealthEnterprise SoftwareTransportationEnergyFoodDealroom.co 2023 Data as of 2nd June 2023 *More details page 13GRAPH/MAIN CONTENTFOOTEREXTRA CONTENTALIGN HERE EXTRA CONTENT/SOURCES/INSPIRATIONBIG LOGOS SPACING1.The past 20 years of techEurope arrivesPage/6 S

21、ource:EXTRA CONTENTALIGN HERE EXTRA CONTENT/SOURCES/INSPIRATIONLOGOS SPACINGYEAR/EXTRA LABELTITLEGRAPH TITLEGRAPH/MAIN CONTENTFOOTERGRAPH 1GRAPH 2Europe has arrived on the global stage.Europes share of global venture capital increased from 5%two decades ago to 20%in 2022.At the early stage,Europe no

22、w raises a third of global Seed funding.DESIGN CONTENT$92BEuropean share of global VC funding 20%36%20002002200420062008201020122014201620182020202235%30252015105028%25%16%28%Dealroom.co|Created with DatawrapperPage/7 Source:EXTRA CONTENTALIGN HERE EXTRA CONTENT/SOURCES/INSPIRATIONLOGOS SPACINGYEAR/

23、EXTRA LABELTITLEGRAPH TITLEGRAPH/MAIN CONTENTFOOTERGRAPH 1GRAPH 2The 100 x continent.European venture capital investment has ramped up from less than$1B a year 20 years ago,to$92B in 2022.DESIGN CONTENT$92B$7BGlobal VC funding by regionSpotify NASDAQ direct listingCreandum Klarna series BCreandum Sp

24、otify series ACreandum founding date$92BFund I:$27M ,2003Fund II:$70m,2007III:$177M,2013IV:$193M,2016Fund V-$300M,2019VI:$500M,2022$600B$500B$400B$300B$200B$100B200020022004200620082010201220142016201820202022 Europe US Asia RoW Projected$42B$18B$11B$11B$15B$19B$23B$37B$34B$27B$39B$56B$55B$111B$167B

25、$165B$64B$209B$311B$307B$688B$472B$284B$290BDealroom.co|Created with DatawrapperPage/8 Source:EXTRA CONTENTALIGN HERE EXTRA CONTENT/SOURCES/INSPIRATIONLOGOS SPACINGYEAR/EXTRA LABELTITLEGRAPH TITLEGRAPH/MAIN CONTENTFOOTERGRAPH 1GRAPH 2The amount of capital raised by VCs in Europe has also increased 1

26、00 x in the last 20 years,with the growth in opportunities and European track record.Dealroom.coDESIGN CONTENT$7BDealroom.co|Created with DatawrapperVC funds raised by European investorsCreandum Fund V:$300MCreandum Fund IV:$193MCreandum Fund III:$177MCreandum Fund I:$27MFund I:$27M ,2003Fund II:$70

27、m,2007III:$177M,2013IV:$193M,2016Fund V-$300M,2019VI:$500M,2022Creandum Fund II:$70MCreandum Fund VI:$500M$30B202004200620082010201220142016201820202022$30B$20B$10BPage/9 Source:EXTRA CONTENTALIGN HERE EXTRA CONTENT/SOURCES/INSPIRATIONLOGOS SPACINGYEAR/EXTRA LABELTITLEGRAPH TITLEGRAPH/MAIN CONTENTFO

28、OTERGRAPH 1GRAPH 2The European tech ecosystem has grown massively in the last decade,now worth a collective$2.5T.Value creation is accelerating with the youngest startup cohorts worth the most.Dealroom.coCombined enterprise value of VC-backed European tech companies founded since 2000DESIGN CONTENT$

29、2.5T of enterprise value have been created by European VC-backed startup started since 2000.Most of the value is also coming from recent cohorts(2015+,2010-2014),showing an acceleration in this value creation.$2.5TMost valuable VC-backed European tech companies founded since 2000 view onlineDesign h

30、ere to be adjusted20102011201220132014201520162017201820192020202120222023 19001989 19901994 19951999 20002004 20052009 20102014 20152021$3.0T$2.0T$1.0TPage/10 Source:EXTRA CONTENTALIGN HERE EXTRA CONTENT/SOURCES/INSPIRATIONLOGOS SPACINGYEAR/EXTRA LABELTITLEGRAPH TITLEGRAPH/MAIN CONTENTFOOTERGRAPH 1

31、GRAPH 2 Europe North America Asia excl.China China RoW Europe now has 65 cities home to at least one unicorn,up from just three cities in 2010.Dealroom.coDESIGN CONTENT1371170221Cities with one or more unicornCreandum backed unicorns(by year they achieve status)Number of cities with at least one uni

32、cornUnderlying model733Trade Republic,Voy,Pleo,Depop,Epidemic Sound651501005020102011201220132014201520162017201820192020202120222023Neo4j11252234518567118131104145165167167514Unicornsin 202317Unicornsin 2009Creandum investmentsPage/11 Source:EXTRA CONTENTALIGN HERE EXTRA CONTENT/SOURCES/INSPIRATION

33、LOGOS SPACINGYEAR/EXTRA LABELTITLEGRAPH TITLEGRAPH/MAIN CONTENTFOOTERGRAPH 1GRAPH 2Dealroom.coDESIGN CONTENTEurope now has 514 unicorns,spread out across 65 cities and 25 countries,the highest density of unicorn tech hubs of any region in the world.54+Unicorn cities across 25 countries in Europe.210

34、Tallinn Copenhagen Zurich Dublin Madrid London Paris BerlinStockholm Amsterdam Munich 105443531201514121396United KingdomGermanyFranceSwedenNetherlandsSwitzerlandSpainDenmarkIrelandPolandEstoniaRest of Europe4.6xgrowth since 2016By CitySource:Dealroom.coxx+Unicorn cities across 25 countries in Europ

35、e.189Tallinn Copenhagen Zurich Dublin Madrid London Paris BerlinStockholm Amsterdam Munich 7840313020151411111010By City514Unicorns in Europe(HQ+Founded)CitiesUnicorns LinkTallinn6 LinkMadrid9 LinkDublin13 LinkZurich12 LinkCopenhagen14 LinkMunich15 LinkAmsterdam20 LinkStockholm31 LinkBerlin35 LinkPa

36、ris44 LinkLondon105 LinkEurope has now 514 unicorns,spread out across 65 cities and 25 countries.By CountryCreandum investmentsPage/12 Source:EXTRA CONTENTALIGN HERE EXTRA CONTENT/SOURCES/INSPIRATIONLOGOS SPACINGYEAR/EXTRA LABELTITLEGRAPH TITLEGRAPH/MAIN CONTENTFOOTERGRAPH 1GRAPH 2The last decade ha

37、s proven that great tech companies can come from anywhere,with the European startup ecosystem now increasingly distributed.Dealroom.co*Combined enterprise value of all startups&tech companies founded since 1990.*Future unicorns are startups valued$250M-$1B which raised since 2018.DESIGN CONTENTEnter

38、prise value*VC funding in H1 2023Total unicorns and$1B+exits since 1990New unicorns since 2021Future unicorns*Rest of EuropeCEEFranceGermanyNordicsUnited Kingdom15%Maybe add or replace one of them with early-stage funding29%14%10%5%27%11%35%15%17%3%19%15%31%13%9%9%23%16%28%17%10%8%21%8%34%15%16%5%22

39、%CEE:SEON(future unicorn)Germany:Trade Republic(unicorn),Taxfix(unicorn),Cargo.one(future unicorn)Spain:Factorial(unicorn)France:Swan(not future unicorn yet)UK:Depop(unicorn),Yulife(future unicorn),Tesseract(not yet future unicorn)Nordics:Spotify(unicorn),iZettle,(unicorn),Small Giant Games(future u

40、nicorn),Xeneta,Vivino,Neo4J(unicorn),pleo(unicorn)Page/13 Source:EXTRA CONTENTALIGN HERE EXTRA CONTENT/SOURCES/INSPIRATIONLOGOS SPACINGYEAR/EXTRA LABELTITLEGRAPH TITLEGRAPH/MAIN CONTENTFOOTERGRAPH 1GRAPH 2Fintech,Health and Enterprise Software have been the three dominant sectors for VC funding in E

41、urope in the last 20 years.Dealroom.co|Created with Datawrapper.de Data as of 2nd June 2023 *Others include:Home Living,HRTech,Music,Sports,Wellness Beauty,Legal,Event Tech,Hosting,Consumer Electronics,Kids,Chemicals,Dating.DESIGN CONTENTShare of venture capital funding by industry(2003-2023)Fintech

42、Late 90s Online payments2006+Online lending2013-5+Online-first bankingdigital wallets2016+Financial infrastructure 2018+Democratisation of wealth management(Trade republic)2020+Web3(Argent)SaaSRobotic process automationML and Deep learningxxxHealthDigital health:telemedicine,AI-assistance to doctors

43、(medical imaging etc),Health apps and remote monitoringBiotechFintechHealthEnterprise SoftwareTransportationEnergyFoodMarketingTelecomMediaFashionSecurityReal EstateTravelGamingEducationRoboticsSpaceSemiconductorsOthers*Enterprise software2000+:CRMs 2006+:The cloud computing migration2007+:mobile ap

44、ps2015+:acceleration of Open-source software(Elastic)2022+:Generative software2006+:Online lending2013-5+:Online-first banking(Klarna?)2016+:Insurtech(YuLife)2017+:embedded finance(Swan)2018+:Democratisation of wealth management(Trade republic)2020+:Web3(Argent)Page/14 Source:EXTRA CONTENTALIGN HERE

45、 EXTRA CONTENT/SOURCES/INSPIRATIONLOGOS SPACINGYEAR/EXTRA LABELTITLEGRAPH TITLEGRAPH/MAIN CONTENTFOOTERGRAPH 1GRAPH 2With Europe catching up in its share of global VC investment,the amount raised by funds increasing by 100 x,it is little surprise that unicorns are emerging from all across Europe.We

46、began in the Nordics in 2003,and in 2023 the funds have now invested in over 15 countries from our hubs in Stockholm,Berlin,London and San Francisco.Being a generalist fund means we place greater emphasis on the entrepreneurs we think will win and will keep this openness at our core in the future.Th

47、e European opportunity is more compelling than ever before.The European opportunity is more compelling than ever before.Creandums Impact on Europe.Dealroom.coDESIGN CONTENT$92BFund I:$27M ,2003Fund II:$70m,2007III:$177M,2013IV:$193M,2016Fund V-$300M,2019VI:$500M,2022Johan BrennerGeneral Partner Crea

48、ndum“should work as a good transition slide from the first part to the secondEcosystem Value$105bPortfolio all time-2023NOW2016$12B$139Bxxx20Global unicorns(17 in Europe)13 Future unicorns448MLast fund raised in Mar 2022Europe is becoming even more an opportunityCEE,southern Europe.Opportunities are

49、 everywhere.Six verticals,but we are generalists since sometimes big thing is gonna be outside those 6 verticals.If were too theme oriented,we would have never invested in Spotify,because music was not a major themeWith Europe catching up in its share of global VC investment,with the amount raised b

50、y funds increasing by 100 x,it is little surprise that unicorns are sprouting all across Europe.We began in the Nordics in 20023,and in 2023 the funds have now invested in over 15 countries from our offices in Stockholm,Berlin,London and SF.Being generalist means we place greater emphasis on the ent

51、repreneurs we think will win,and will keep this openness at our core in the future.150Investments across 16 countries20 Unicorns in portfolio.16 founded in Europe14+“Futurecorns”in portfolio(private companies valued$250-$850M)50+exits$1.7BFund raised across all vehicles over the past 20 yearsJohan B

52、rennerGeneral Partner Creandum“With Europe catching up in its share of global VC investment,with the amount raised by funds increasing by 100 x,it is little surprise that unicorns are sprouting all across Europe.We began in the Nordics in 20023,and in 2023 the funds have now invested in over 15 coun

53、tries from our offices in Stockholm,Berlin,London and SF.Being generalist means we place greater emphasis on the entrepreneurs we think will win,and will keep this openness at our core in the future.The European opportunity is more compelling than ever before.Creandum in a snapshot$15B Raised by por

54、tfolio companies40kPeople employed by portfolio companies across 16 countries120 Investments across 16 countries50+exits$1.7B Funds raised across all vehicles over the past 20 years 20 Unicorns in portfolio.16 founded in Europe14+“Futurecorns”in portfolio(private companies valued$250-850M)1 in 6Comp

55、anies in the portfolio are Unicorns“GRAPH/MAIN CONTENTFOOTEREXTRA CONTENTALIGN HERE EXTRA CONTENT/SOURCES/INSPIRATIONBIG LOGOS SPACING2.The next 20 years of techEurope:global challengerPage/16 Source:LOGOS SPACINGYEAR/EXTRA LABELTITLEGRAPH TITLEGRAPH/MAIN CONTENTFOOTEREXTRA CONTENTALIGN HERE EXTRA C

56、ONTENT/SOURCES/INSPIRATIONDESIGN CONTENTAmazon,Google,Facebook,Microsoft etc.Unchallenged in EuropeDealroom.co38%of all seed capital is invested in EuropeAdyen vs.StripeSpotify vs.NetflixJust Eat Takeaway vs.Uber EatsExperienced VC scene Startup mafia flywheelEngineering and scientific talentUp to 2

57、0052005-2015TodayNext 20 yearsEurope is increasingly affirming its role in tech with every new startup generation.Amazon,Google,Facebook,Microsoft etc.Unchallenged in EuropeCategory leaders born in EuropeAdyen,Spotify,Klarna,Just Eat Takeaway,etc.Over 30%of all seed capital has been invested in Euro

58、pe in the last 7 yearsExperienced VC scene,Startup mafia flywheel,Engineering and scientific talentAdyen vs.Stripe,Spotify vs.Netflix,Klarna vs Affirm,Just Eat Takeaway vs.Uber EatsPage/17 Source:EXTRA CONTENTALIGN HERE EXTRA CONTENT/SOURCES/INSPIRATIONLOGOS SPACINGYEAR/EXTRA LABELTITLEGRAPH TITLEGR

59、APH/MAIN CONTENTFOOTERGRAPH 1GRAPH 2The startup mafia flywheel is now in full effect in Europe.Entrepreneurship is compounding as successful startups spawn new generations of founder talent.*Accel and Dealroom.co reports Europe and Israels startup founder factories Nov 2022,Europe and Israels startu

60、p founder factories and the founder journeyThe flywheel effect is accelerating%of total startups founded by unicorn staff alumni,distributed by year unicorn hit$1B markNumber of 2nd generation startups*DESIGN CONTENT40%50%total30%20%10%9%44%47%20122013-20182019+32323131262424242230222119151514131212

61、12Source:Accel and Dealroom,2023Source:Accel and Dealroom,2022Year founder factory became unicornPage/18 Source:EXTRA CONTENTALIGN HERE EXTRA CONTENT/SOURCES/INSPIRATIONLOGOS SPACINGYEAR/EXTRA LABELTITLEGRAPH TITLEGRAPH/MAIN CONTENTFOOTERGRAPH 1GRAPH 2USA21%17%High share of highly-cited research pub

62、lications1Europe21%ChinaCan we investigate by entity type?Quote?Times 2022 engineering and does well also in Engineering ranking(THE 2022)1.Harvard11.University of California2.Stanford 12.Peking university3.Berkeley13.Imperial College London4.MIT14.Georgia Tech5.Cambridge15.Singapore Nanyang6.Oxford

63、16.Yale7.Princeton17.Tsinghua(Beijing)8.Caltech18.Carnegie Mellon University9.ETH Zurich19.cole polytechnique fdrale de Lausanne10.National University of Singapore20.University of Michigan-Ann Arbor1.Oxford11.Singapore National2.Stanford 12.UCLA3.ETH Zurich13.Singapore Nanyang4.MIT14.Cornell5.Cambri

64、dge15.Tsinghua(Beijing)6.CMU16.Georgia Tech7.Imperial College London17.HKUST8.Harvard18.TU Munich9.Princeton19.University College London10.Caltech20.cole polytechnique fdrale de LausanneUS=2622-53%China=935-19%EU+Switzerland=895-18%Australia+Canada=528-10%total=4980 EUChina43%20%High share of highly

65、-cited research publications1Europe38%USAUKEUChina43%20%High share of highly-cited research publications*Europe38%USAUKEurope has the tech talent and research leadership required to play a key role in innovation for the next 20 years.*Stack Overflow*Benedict Evans/Mosaic Ventures Dec 2020.Data origi

66、nally from BEIS/SCOPUS/UNESCO.Europe excels in Computer Science ranking(THE 2022)1.Oxford11.Imperial College London2.Stanford 12.UCLA3.MIT13.Tsinghua(Beijing)4.ETH Zurich14.Caltech4.Cambridge15.TU Munich6.CMU16.Singapore Nanyang7.Harvard17.University of Washington8.Berkeley18.Cornell8.National Unive

67、rsity of Singapore19.Peking university10.Princeton20.cole polytechnique fdrale de Lausanne and also does well in Engineering ranking(THE 2022)1.Harvard11.University of California2.Stanford 12.Peking university3.Berkeley13.Imperial College London4.MIT14.Georgia Tech5.Cambridge15.Singapore Nanyang6.Ox

68、ford16.Yale7.Princeton17.Tsinghua(Beijing)8.Caltech18.Carnegie Mellon University9.ETH Zurich19.cole polytechnique fdrale de Lausanne10.National University of Singapore20.University of Michigan-Ann ArborFranceUKSpainUSAItaly35%28%26%23%22%18%GermanyEuropean students are more into science*(portion of

69、graduates in Science,Technology,Engineering,and Mathematics)Europe has 40%more developers than the US*EuropeUS6.1M4.3MPage/19 Source:EXTRA CONTENTALIGN HERE EXTRA CONTENT/SOURCES/INSPIRATIONLOGOS SPACINGYEAR/EXTRA LABELTITLEGRAPH TITLEGRAPH/MAIN CONTENTFOOTERGRAPH 1GRAPH 2More than half of the world

70、s top science clusters are in Europe.Science Clusters are evaluated on a per-capita basis,mainly on academic/research footprint and startup value creation.Parameters used include university ranking,patent creation,deep tech funding from early to late stage and number of deep tech unicorns.The result

71、 is a mix of big generalist and small specialist science hubs.Science clusters are well positioned to lead in the emergence of new technologies.Page/19 PointsScience clustersDensity&innovation lensSource:dealroom.co Next-gen tech ecosystems report Access the full reportThe Next Generation of Tech Ec

72、osystems REPORTDealroom.co Next-gen tech ecosystems report Page/20 Source:LOGOS SPACINGYEAR/EXTRA LABELTITLEGRAPH TITLEGRAPH/MAIN CONTENTFOOTEREXTRA CONTENTALIGN HERE EXTRA CONTENT/SOURCES/INSPIRATIONDealroom.coDESIGN CONTENTOther potentials:semiconductor,travel,fashion,media,xxFoodMobilityHealthFin

73、ancialServicesReal EstateEducationInsurance$20B$40B$60B$80B$100B$120B$2T$4T$6T$8T$10T$12T$14TSemiconductorsTravelFashionEnergyHuge potential remains for the transformation of many largely undisrupted,“traditional”industries.Some industries such as Real Estate,Education and Insurance as well as Consu

74、mer segments such as Food,Travel and Fashion have seen very little VC funding compared to their large market size.Global Market Size vs.Industry VC Investment(2022-2023)Some industries like Health,Energy and Mobility are overinvested by VC,while Insurance,Education and Real Estate have been strongly

75、 underinvested.Page/21 Source:LOGOS SPACINGYEAR/EXTRA LABELTITLEGRAPH TITLEGRAPH/MAIN CONTENTFOOTERGRAPH 1GRAPH 2EXTRA CONTENTALIGN HERE EXTRA CONTENT/SOURCES/INSPIRATIONTheres no stopping innovation-FinTech,SaaS and Health have been Europes most popular sectors for investment,but all remain under-i

76、nvested.DDESIGN CONTENTBut the fintech ecosystem is still very early on its journey.A huge amount of value has been created in fintech over the past decade,with more than 300 public and private$1B+fintechs globally(ex.China)worth almost$1.4T.That said,only 40 of these companies($425B market cap)have

77、 crossed the bridge to public markets.This is a big number,but only a very small fraction(less than 5%)of the broader financial services industry.Seon,ark kapital,topi,lemon.markets,swan,BillieAbacum,vue storefront,leapsome,procuros,planhat,prewaveScarlet,yulife,firstvet2.5%of revenue captured only

78、in fintech?Logos to be added only after validationDespite the vast levels of funding going into FinTech,Enterprise Software and Health,significant opportunities still exist for tech disruption in these areas.Johan BrennerGeneral Partner CreandumUnicorn in portfolioFintechRecent investmentsUnicorn in

79、 portfolioEnterprise softwareRecent investmentsUnicorn in portfolioHealthRecent investmentsNew investment opportunities in FinTech,SaaS and Health continue to appear.Additionally,new sectors are emerging as innovation spreads across Europe.The mass adoption of AI tools such as ChatGPT and LLMs mean

80、that the speed of innovation is only going to accelerate.“Page/22 Source:LOGOS SPACINGYEAR/EXTRA LABELTITLEGRAPH TITLEGRAPH/MAIN CONTENTFOOTERGRAPH 1GRAPH 2EXTRA CONTENTALIGN HERE EXTRA CONTENT/SOURCES/INSPIRATIONNew sectors have emerged in the last year including Climate Tech and Quantum Computing,

81、where Europe makes up global funding.DESIGN CONTENTDealroom.co|Created with Datawrapper.de.2023 data as of 10th June*Frontier tech here defined as Deep Tech,blockchain,VR/AR and climate tech.Global share of funding across segments(2022-2023YTD)($24B)($8.5B)($1.8B)($0.7B)($1.8B)($1.2B)($6.6B)Europe U

82、S China RoW Page/23 Source:LOGOS SPACINGYEAR/EXTRA LABELTITLEGRAPH TITLEGRAPH/MAIN CONTENTFOOTERGRAPH 1GRAPH 2EXTRA CONTENTALIGN HERE EXTRA CONTENT/SOURCES/INSPIRATIONVC funding in Climate Tech continues to grow,with Europe at the centre.Dealroom.co,created with Datawrapper.2023 data as of 20th MayD

83、ESIGN CONTENTSome commentaryClimate,electrification only just touched surface.Software models,software to run hardware etcxxxSabina WizanderPartner CreandumOne of the verticals we are most interested in is Climate,and in particular electrification,the intersection between fintech and climate,energy

84、transition and the carbon market.The fund has invested in a range of businesses in Climate.We are in a climate emergency and urgently need tech solutions.*add comment on growth of climate tech in Europe based on the data*“European Climate Tech VC funding20162017201820192020202120222023$15B10B5B Actu

85、al Investment Projected$2B$2B$4B$5B$7B$17B$19B$11BClimate,electrification only just touched surface.Electrification can unlockSoftware models are now being unblockedThere is also software to run hardware etcShare of VC funding going to Climate Tech by region(2023YTD)$5B35%30252015105NordicsUKEuropeN

86、orth AmericaAsia24%22%7%8%36%Page/24 Source:LOGOS SPACINGYEAR/EXTRA LABELTITLEGRAPH TITLEGRAPH/MAIN CONTENTFOOTERGRAPH 1GRAPH 2EXTRA CONTENTALIGN HERE EXTRA CONTENT/SOURCES/INSPIRATIONElectrification accounts for half of Climate Tech investment in Europe.D,created with Datawrapper.2023 data as of 14

87、th June 2023DESIGN CONTENTSome commentaryClimate,electrification only just touched surface.Software models,software to run hardware etcxxxEuropean investments in electrificationClimate,electrification only just touched surface.Electrification can unlockSoftware models are now being unblockedThere is

88、 also software to run hardware etcAmong creandum portfolio i do not see climate fintech,carbon market and climate risk linkBut mostly EV,renewable and food“Decarbonising the power sector and making the world more electric is key to addressing the climate crisis.European VC funding and projected grow

89、th in selected climate tech areas(2023YTD)Projected growth 2023 vs 2020$500M$1B$1.5B$2B+32%+263%+2430%+155%+118%electrificationenergy efficiencyclimate fintechcarbon tracking&offsetclimate risk$0$500M$1B$1.5B$2BElectrification$2.1BEnergy efficiency$435MClimate fintech$343MCarbon tracking&offset$212M

90、Climate risk$49M+36%+263%+118%+2430%+155%Sabina WizanderPartner CreandumIt is encouraging to see the continued growth in investment in climate tech across Europe,and the Nordics being a hub for investment in 2023.At Creandum,the funds have invested in a range of climate solutions-electrification,ene

91、rgy,sustainable supply chains-and this will be a priority for us going forward.Page/25 Source:LOGOS SPACINGYEAR/EXTRA LABELTITLEGRAPH TITLEGRAPH/MAIN CONTENTFOOTERGRAPH 1GRAPH 2EXTRA CONTENTALIGN HERE EXTRA CONTENT/SOURCES/INSPIRATIONThe transition to net zero is an investment opportunity which amou

92、nts to 20%GDP.*Bloomberg NEF,“Energy Transition Investment Trends 2023”*McKinsey“The net-zero transition:What it would cost,what it could bring”DESIGN CONTENTSome commentaryClimate,electrification only just touched surface.Software models,software to run hardware etcxxxClimate funding gap:Real vs ne

93、eded investment in climate tech*Climate,electrification only just touched surface.Electrification can unlockSoftware models are now being unblockedThere is also software to run hardware etc2022$1.1T global investment in the low-carbon energy transition of which$65B in Climate tech VC fundingNet-zero

94、 transition economic opportunitySuch as steel,cement,automotive&other transportation,oil&gas and energy sector,constructionA massive increase in climate funding is needed from todays$1.1T to over$5T in the coming years.VC funding in Climate tech stands today at just a fraction of that with$65B in 20

95、22,but can act as a tech and business model enabler for further investment.This is poised to transform the whole economy.Industries accounting for 20%of global GDP will be particularly reshaped such as steel,cement,automotive&other transportation,oil&gas and the energy sector,among others*.201020202

96、03020402050ActualFundingNecessaryfunding$8T$6T$4T$2TThe transition to net zero is an investment opportunity which amounts to 20%GDP.A massive increase in climate funding is needed from todays$1.1T to over$5T in the coming years.VC funding in Climate tech stands today at just a fraction of that with$

97、65B in 2022,but can act as a tech and business model enabler for further investment.This is poised to transform the whole economy.Industries accounting for 20%of global GDP will be particularly reshaped such as steel,cement,automotive&other transportation,oil&gas and the energy sector,among others*.

98、Page/26 Source:EXTRA CONTENTALIGN HERE EXTRA CONTENT/SOURCES/INSPIRATIONLOGOS SPACINGYEAR/EXTRA LABELTITLEGRAPH TITLEGRAPH/MAIN CONTENTFOOTERGRAPH 1GRAPH 2Process automationSignificant GenAI uptakeDeveloper tools Significant GenAI uptakeFinancial adviceSignificant GenAI uptakeFintechUSA21%17%High sh

99、are of highly-cited research publications1Europe21%ChinaCan we investigate by entity type?Quote?EUChina43%20%High share of highly-cited research publications1Europe38%USAUKTo keep and do designThe mass adoption of AI will accelerate innovation and uncover more clusters.Future of consumers and mediaC

100、ontent productionSynthesiaKivePhotoroomGamingReady Player MeAnythingCharisma.aiEducationSana labsMIndstoneCorrectoDeveloper toolsProcess automationMLops/tools for AIV7WeaviateHazyAML and KYCFinancial adviceClimate riskDescartesMitiga solutionsClimaticaDealroom.co10 xGrowth in GenAI VC funding in Eur

101、opeProjected 2023 vs 2020105MLargest seed round ever in Europe in GenAI despite broader market downturn(Mistral AI)25%European unicorns in 2023 in Generative AI(DeepL,Synthesia)In the last period,AI has picked up an incredible head of steam,driven by the advancement of generative AI and large langua

102、ge models.These new developments begin a new and faster than ever cycle of software innovation,both by integrating new AI features into existing products and creating new AI-first ones.We see this happening both in new markets and“mature”areas.The velocity of this new tech cycle shows once again tha

103、t innovation is unpredictable and speed and openness is required.Enterprise softwareDiffblueCodacyCelonisCognigyRossumQuantexaHawk.aiSeonDimplyUltramarin?Chip10 xGrowth in GenAI VC funding in EuropeProjected 2023 vs 202010 xGrowth in GenAI VC funding in EuropeProjected 2023 vs 202025%European unicor

104、ns in 2023 in Generative AI(DeepL,Synthesia)105MLargest seed round ever in Europe in GenAI despite broader market downturn(Mistral AI)Enterprise softwareAML and KYCFintechExamples of AI impact across sectors(significant GenAi uptake)Page/27 Source:LOGOS SPACINGYEAR/EXTRA LABELTITLEGRAPH TITLEGRAPH/M

105、AIN CONTENTFOOTEREXTRA CONTENTALIGN HERE EXTRA CONTENT/SOURCES/INSPIRATIONWhen the funds first invested in Spotify in July 2008,we did not know music streaming was a segment capable of such a great outcome.Spotify has paved the way for European founders to think big and achieve the same kinds of out

106、comes which previously people thought only realistic in Silicon Valley.“Fredrik CasselGeneral Partnerat CreandumDESIGN CONTENTThe next big opportunity is likely to emerge in an unexpected area.Spotify has been the training ground for many entrepreneurs.With 32 businesses launched by former employees

107、,it is one of the tech companies with the most 2nd generation startups in Europe”Spotify has been the training ground for many entrepreneurs.With 32 businesses launched by former employees,it is the tech company with the most 2nd generation startups in Europe”When the funds first invested in Spotify

108、 in July 2008,we could hardly have imagined music streaming was a segment capable of such a great outcome.Spotify has paved the way for European founders to think big and achieve the same kinds of outcomes which previously people thought only realistic in Silicon Valley.“July 2008 First investment(c

109、o-led Series A)April 2018Public listing at$29.5B valuation97xReturnFredrik CasselGeneral Partner at CreandumPage/28 Source:LOGOS SPACINGYEAR/EXTRA LABELTITLEGRAPH TITLEGRAPH/MAIN CONTENTFOOTEREXTRA CONTENTALIGN HERE EXTRA CONTENT/SOURCES/INSPIRATIONDESIGN CONTENTAmazon,Google,Facebook,Microsoft etc.

110、Unchallenged in EuropeDealroom.co,Creandum38%of all seed capital is invested in EuropeAdyen vs.StripeSpotify vs.NetflixJust Eat Takeaway vs.Uber EatsExperienced VC scene Startup mafia flywheelEngineering and scientific talentWhen we started Creandum in 2003,we had little idea that the European ventu

111、re ecosystem would develop as much as it has in the last 20 years.With the data as shown in this report around distribution of funding and new trends in investing,we expect Europe to continue to dominate going forward”In the last period,AI has picked up an incredible head of steam,driven by the adva

112、ncement of generative AI and large language models.These new developments begin a new and faster than ever cycle of software innovation,both by integrating new AI features into existing products and creating new AI-first ones.We see this happening both in new markets and“mature”areas.The velocity of

113、 this new tech cycle shows once again that innovation is unpredictable and speed and openness is required.TalentHigher%of STEM graduates than US,top universities in Computer Science and Engineering.Half of the worlds top science clusters.More developers than the US.FundingAttracting nearly 20%of tot

114、al funding and nearly 30%of seed stage one,from just around 5%two decades ago.Amount raised by VCs in Europe has increased 100 x in same period.Experienced startups&VC sceneFlywheel effect now in full effect with startup Mafias such as Spotify and Klarna.Investors in Europe with up to 20 years of ex

115、perience.SectorsSo much untapped potential in fintech,enterprise software and health.Emerging trends such as Climate Tech opens up new massive markets not penetrated by tech today.A new and faster than ever cycle of software innovation is being supercharged by AI.“When we started Creandum in 2003,we

116、 had little idea that the European venture ecosystem would develop as much as it has in the last 20 years.With the data gathered around the diversification of investment and unicorns across Europe,the wave of computer-science talent,the pervading opportunities in well-known sectors as well as exciti

117、ng new opportunities emerging,we expect Europe to continue to dominate going forward.The time for Europe is now.Staffan HelgessonGeneral Partnerat CreandumPage/29 Source:EXTRA CONTENTALIGN HERE EXTRA CONTENT/SOURCES/INSPIRATIONLOGOS SPACINGYEAR/EXTRA LABELTITLEGRAPH TITLEGRAPH/MAIN CONTENTFOOTERGRAP

118、H 1GRAPH 2A few words on our methodology.Homegrown and relocation What is a startup?Companies designed to grow fast.Generally,such companies are VC-investable businesses.Sometimes they can become very big(e.g.$1B+valuation).When startups are successful,they develop into scaleups(50 people),grownups(

119、500 people)and result in big companies.Only companies founded since 1990 are included in this report.What is a unicorn?Unicorns are(former)startups that reached US$1B valuation or exit at one point in time.What is a startup?Geographic methodologyStartups are assigned to the location of their current

120、 HQ.In case a startup has its HQ location the change is applied in Dealroom,while the first HQ is regarded as founding location.The location of most of the employees or the founder nationality are not taken into account.What is Food TechWhat is a Unicorn?Underlying DataDealrooms proprietary database

121、 and software aggregate data from multiple sources:harvesting public information,user-submitted data verified by Dealroom,data engineering.Data is verified and curated with an extensive manual process.The data on which this report builds is available via app.dealroom.co.For more info please visit de

122、alroom.co or contact supportdealroom.co.Venture Capital,InvestorsInvestment are referred to by their round labels such as Seed,Series A,B,C,late stage,and growth equity.VC investments excludes debt or other non-equity funding,lending capital,grants and ICOs.Buyouts,M&A,secondary rounds,and IPOs are

123、treated as exits:excluded from funding data,but included in exit data.Dealroom.coWhat is a startup?Companies designed to grow fast.Generally,such companies are VC-investable businesses.Sometimes they can become very big(e.g.$1B+valuation).When startups are successful,they develop into scaleups(50 pe

124、ople),grownups(500 people)and result in big companies.Only companies founded since 1990 are included in this report.What is a unicorn?Unicorns are(former)startups that reached US$1B valuation or exit at one point in time.Underlying DataDealrooms proprietary database and software aggregate data from

125、multiple sources:harvesting public information,user-submitted data verified by Dealroom,data engineering.Data is verified and curated with an extensive manual process.The data on which this report builds is available via app.dealroom.co.For more info please visit dealroom.co or contact supportdealro

126、om.co.Venture capital and funding roundsInvestment are referred to by their round labels such as Seed,Series A,B,C,late stage,and growth equity.VC investments excludes debt or other non-equity funding,lending capital,grants and ICOs.Buyouts,M&A,secondary rounds,and IPOs are treated as exits:excluded

127、 from funding data,but included in exit data.Geographic methodologyStartups are assigned to the location of their current HQ.In case a startup has its HQ location the change is applied in Dealroom,while the first HQ is regarded as founding location.The location of most of the employees or the founde

128、r nationality are not taken into account.What is FoodTechWhat is a startup?What is a Unicorn?Dealroom taxonomyStartups in Dealroom have many layers of classification.The key ones are:industry&sub-industry(health,fintech,etc),business models(SaaS,marketplaces,manufacturing),client focus(B2B,B2C),and

129、technologies(Deep tech,blockchain,etc),tags(climate tech,quantum computing,etc).For more info please see our Dictionary&Taxonomy.Dealroom defines climate tech as a broad set of sectors that tackle the challenge of decarbonizing the global economy.This is implemented as a tag across many sectors.Fron

130、tier Tech is in this report defined as the union of Deep Tech,blockchain,VR/AR and Climate Tech.Geographic methodologyStartups are assigned to the location of their current HQ.In case a startup moves its HQ location the change is applied in Dealroom,while the first HQ is regarded as founding location.Source:GRAPH/MAIN CONTENTFOOTEREXTRA CONTENTALIGN HERE EXTRA CONTENT/SOURCES/INSPIRATIONBIG LOGOS SPACING