In 2024, Italy had the highest ever number of VC rounds in a year and it was the second-best year for amount raised after 2022. In total, this year saw 417 rounds and €1.5B raised, up from 319 rounds and €1.172B raised in 2023.
As forecasted, among European VC ecosystems with €1B+ invested in 2024, Italy stands out with the highest year-over-year growth at 28%, followed by Belgium and Spain.
These were some of the key points that emerged from the Q4-24 and 2024 full-year VC Report, developed by Growth Capital with Italian Tech Alliance.
Notable facts on VC in Q4:
- €351 million invested in 140 rounds
- 14 Series A rounds, 3 Series B rounds, 3 Series C+ rounds, and 4 exits
- Sectors: DeepTech with the most rounds and FinTech with the highest amount invested
- Verticals: AI & ML with the most rounds and Payments with the highest amount invested
Insights from the VC Index:
- December 2024 recorded the highest score ever, as well as the highest recorded discrepancies between investors’ and founders’ perception
- Sentiment has improved among investors across all measured indicators, while for startups the sentiment has slightly worsened on all indicators except for outlook on the next 6-12 months
“In 2024, Europe is seeing results in line with the previous year, while the resilience and momentum of the Italian VC ecosystem confirm its path towards greater maturity. Italy has set a record in the number of deals, albeit with many confidential rounds, and has seen a 28% increase in the amount invested year-on-year, establishing itself as the fastest-growing market among its peers, as per our forecasts. In 2024, the announcement of new VC funds totaling around €1.4B has brought the level of dry powder to unprecedented figures. Looking ahead to 2025, we expect an increase in both the number of deals and the amount invested, excluding mega rounds, the frequency and size of which remain difficult to predict. This growth will be driven mainly by the high availability of capital, the greater participation of international investors, and the growth in size of Italian VC funds,” comments Fabio Mondini de Focatiis, Founding Partner of Growth Capital.