Atomico State of European Tech 2022
Key takeaways
01
A Tale of Two Halves
2022 was a tale of two halves which saw a shift from record-breaking investment levels to a historic downturn*
02
Investments to Reach $85B
Despite challenging conditions, total investment levels in Europe will reach approximately $85b*
03
Record levels of Dry Powder
A record $84b dry powder is ready to be deployed, which is a promising sign of liquidity in the market*
Report highlights
A Tale of Two Halves
2021’s record-breaking level of investment activity carried on until the first quarter of 2022; in fact, it increased, with investment levels up 52% from the same time in 2021. However, from July onwards, activity started to drop closer to 2018 levels.
Total Investment to Reach $85b
Despite a year-on-year decline of 18%, 2022 will be the second largest investment amount into the European tech ecosystem, eclipsed only by 2021. That’s more than double the total capital invested in 2020.
Record Levels of Dry Powder to Deploy
As 2021 came to a close, European venture and growth investors sat on an estimated $84b in dry powder. This year saw strong fundraising and slower deployment, meaning that number is similar, or possibly even larger. As investors recalibrate to a new market reality, the pace at which that capital will be deployed remains to be seen.
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