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UK-based VCs have raised $17B in cumulative funds since 2014, followed by French ($11.7B) and German ($7.6B) VCs. Given its status as Europe's fourth-largest economy by GDP, the fact that Italian VCs have raised only $1.2B over the same period is particularly noteworthy. The launch of the recent €1B National Innovation Fund in Italy with a mandate that includes investing in VC funds could help to move that number in the right direction.

VC funds raised in UK and Italy

$1.2B vs $17B
Total amount raised by Italian and UK funds respectively since 2014

VC funds raised ($M) by country, 2014 to H1 2019


  • VC funds raised ($M)
2019 based on data to H1 2019. H1 2019 figures are preliminary. Taken from the European Data Cooperative, developed by Invest Europe. EDC data converted at EUR:USD of 1.1367, the rate on 30 June 2019.