The latest report from Pitchbook shows that only London and Berlin rank among the top developmental VC ecosystems in Europe, significantly falling behind US and Asia counterparts.
"Value and volume statistics for locations tend to be lower in Europe than the US and Asia which feeds into our Development Scores," says Nalin Patel, lead analyst.
"One reason could be the infancy of the VC ecosystem in Europe compared to the rest of the world. Another factor could be that Europe is more fragmented with smaller ecosystems spread across the continent," Patel adds.
Despite the challenges, Europe has stronger growth momentum, with seven European cities, including London and Berlin, ranked higher in terms of growth compared to development.
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