US, JP & UAE Investments in European Tech (Jolt Capital)
Key number
€380 billion
Total equity raised by European companies with US, JP, and UAE investors (2010–2025) p.7
What changed
From less than €12 million to over €22 million
Average deal amount raised with foreign investors in Europe (2010–2017 vs 2018–2025) p.7
Summary
- Between 2010 and 2025, US, Japanese, and UAE investors participated in over 19k deals, representing approximately €380b raised in equity by European companies (excluding exits).p.7
- Globally from 2018 to 2025, US investors represented 50% of VC and growth equity capital, rising to 62% of the total amount deployed at exit.p.4
- Growth-stage rounds (>€20m) represent less than 30% of all transactions by US, JP, and UAE investors in Europe, but consistently account for over 80% of total capital invested.p.8
- In European Innovation Council (EIC) Accelerator companies, over €13b has been invested across +2.9k equity deals over 10 years, with US investors participating in 14% of rounds but providing around 40% of the capital raised.p.17
- US investors executed 6,354 M&A and LBO acquisitions of European companies between 2010 and 2025, with more than 50% concentrated in the AI & Data sector.p.26
- European companies acquired by US buyers have a 15% probability of achieving an exit value above €1b, compared to less than 8% for all other European exits.p.28
Key insights
- While US investors represent 50% of global VC and growth equity between 2018 and 2025, their share reaches 62% of capital at exit.p.4
- Growth financing rounds (>€20m) and exits collectively represent 40% of all European deals involving US and Japanese investors.p.6
- US investors deploy more than 70% of their European transaction volume into AI & Data and Health (Medtech and Biotech).p.7
- Foreign investors concentrate heavily on late-stage financing for EIC Accelerator companies, with 21% of US deals and 38% of Japanese deals exceeding €20m.p.9
- UAE investors in Europe focus comparatively more on Mobility, whereas Japanese investors demonstrate stronger exposure to Climate & Environmental Tech and Energy.p.11
- US investors are shifting toward later-stage financing in Europe, as the early-stage share of US deals decreased from +80% to 70% over the past decade.p.14
- US investors take full syndicate control in only about 25% of late-stage AI & Data deals in government-backed cohorts (EIC and Bpifrance), compared to 40% across European tech overall.p.23
- US buyers consistently pay higher valuations for European companies, averaging €349m for Medtech acquisitions compared to €224m across all European exits.p.28
Topics and entities
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