Baromètre EY du capital-risque en France Q1 2025 (EY Swiss Fintech / Banking Barometer)

Summary

• US venture investment surged by 154% driven by AI leaders, whereas Europe grew just over 10%, primarily led by the UK.p.2
• The United Kingdom secured first place in Europe with fundraising rising 20% in value to €4.3 billion.p.2
• France lost its top position within the European Union to Germany, which raised €1.65 billion despite declining 20% in value and 14% in volume.p.2
• Greentech and Software ranked second and third in France, securing €273 million and €268 million respectively.p.2

Key insights

1. US investments grew by 154% due to AI heavyweights such as OpenAI, Anthropic, and Groq, while European investment growth lagged at slightly above 10%.p.2
2. France recorded a total of €1,427 million raised across 148 operations during Q1 2025.p.3
3. UK fundraising reached €4.29 billion across 275 operations, with Growth Equity accounting for €1.26 billion of that total.p.6
4. EY methodology classifies all equity financing rounds exceeding €100 million as Growth Equity.p.7