State of Dutch Tech Report 2025 (Techleap.nl / Dealroom)

Summary

• The Dutch tech ecosystem maintained €3.1 billion in venture capital investment in 2024, achieving a 47% growth rate while outperforming the broader European market decline of -5%.p.5
• The total number of Dutch scaleups increased by 12% to reach 268, with two new unicorns—Mews and DataSnipper—emerging during the year.p.5
• New startup formation experienced a notable decrease, with only 104 new startups securing €100K in funding compared to 172 in 2023.p.5
• The Dutch scaleup ratio stabilized at 21.5%, which continues to lag behind the European average of 23% and the US benchmark of 54%.p.5
• Dutch deeptech companies performed solidly, representing 12% of the ecosystem (1,342 companies) and securing €1.1 billion in investment.p.6
• Domestic investor participation in breakout rounds (€50M-€100M) dropped sharply from 61% to 15%, while European investors stepped in to fill the gap.p.5
• Venture capital funding for companies (co-)founded by women declined to 14% of the total, even though female-led scaleups grew by 22%.p.6

Key insights

1. The UK led European VC investment in 2024 at €14.8 billion, with the Netherlands ranking fourth among major European players.p.18
2. Early-stage VC deal volume in the Netherlands dropped by 20%, reflecting a shifting investor focus toward later-stage operational companies.p.17
3. European investor capital constituted 68% of breakout funding (€50M-€100M) in the Netherlands in 2024, rising from 25% in 2023.p.23
4. The scaleup ratio within the Dutch deeptech segment reached 35% in 2024, rising from 16% in 2019.p.6
5. Deeptech startups take an average of 3.8 years to scale to funding rounds between €100M and €200M, progressing at a pace similar to non-deeptech ventures.p.46
6. The cloud hosting industry dominated Dutch VC allocations in 2024, acquiring roughly 20% of all capital primarily due to a large Nebius round.p.33