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Go4Venture Advisers tracks European venture and growth funding activity

The Headline Transaction Index (HTI) database © covers funding of European companies of at least £1mn
Total value of transactions (€mn), year to date
HTI Index

Source: Go4Venture Advisers HTI Database ©

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3,000 companies

2,000 investors

4,000 transactions

Largest funding transactions (€mn), 2013

# Company Country Sector Round Amount (€mn) Description Investors HTI Issue
1 Mobileye
www.mobileye.com
Netherlands Hardware Late stage 306 Provider of automated on-board driver assistant systems Blackrock Private Equity Partners, Enterprise Holdings, Fidelity Investments, Sailing Capital, Wellington Management July 2013
2 Spotify
www.spotify.com
Sweden Digital media Late stage 185 Provider of streamed music services both over the web and via smartphone apps Technology Crossover Ventures November 2013
3 Zalando
www.zalando.com
Germany Internet services Late stage 100 Online fashion retailer Investment AB Kinnevik July 2013
4 Supercell
www.supercell.net
Finland Internet services C 100 Developer of online games Atomico, Index Ventures, Institutional Venture Partners April 2013
5 KupiShoes
www.lamoda.ru
Russia Internet services Late stage 99 Fashion e-tailer operating in Russia and Kazakhstan Access Industries, Summit Partners, Tengelmann Ventures June 2013
6 Truphone
www.truphone.com
UK Telecom services C 87 Provider of international mobile phone services for businesses and individuals Minden, Vollin Holdings February 2013
7 Softonic
en.softonic.com
Spain Internet services Late stage 83 Provider of software guide that allows users to explore, download and manage applications on multiple devices in multiple languages Partners Group February 2013
8 Skyscanner
www.skyscanner.net
UK Internet services B 59e Operator of a search engine for flights with growing activities in hotel bookings and car rentals Sequoia Capital October 2013
9 Hyperoptic
www.hyperoptic.com
UK Telecom Services A 59 Operator of an ultra-fast FTTH (Fibre-To-The-Home) internet service Quantum Strategic Partners May 2013
10 Powa Technologies
www.powa.com
UK Hardware A 57 Developer of a payment processing system and credit card dongle for smartphones Wellington Management August 2013
Source: Go4Venture Advisers HTI Database ©
Top 10 investors, based on # of Large HTI Transactions (>€7.5mn); Total Deal Size measures the total value of Large HTI transactions the investor has been involved with

# Investor Country Type # of Investments Total Deal Size (€mn) Latest Fund (€mn) (Year) AUM (€mn) (Year)
1 Index Ventures Switzerland VC 9 154 350 (2012) 2,000 (2012)
2 IdInvest France PE 7 128 214 (2014) 4,200 (2014)
3 Highland Capital Partners US VC 6 91 237 (2013) 2,200 (2013)
4 Iris Capital France VC 5 89 170 (2010) 850 (2013)
5 Accel Partners US VC 4 83 282 (2014) 4,400 (2014)
6 Balderton Capital UK VC 4 64 181 (2013) 1,100 (2010)
7 Ventech France VC 4 59 150 (2007) 380 (2014)
8 Omnes Capital France VC 4 100 19 (2012) 1,900 (2012)
9 Atomico UK VC 4 56 350 (2012) 381 (2013)
10 Sequoia Capital US VC 4 98 564 (2012) 1,800 (2013)
Source: Go4Venture Advisers HTI Database ©
Go4Venture’s European Tech Headline Transactions Index © is compiled on a monthly and annual basis as an early indicator of evolutions in the private investments market for European TMT companies.
What the HTI measures

Based on the deals reported in major trade publications and news feeds, the HTI is a derivative index, which measures both:

  • The actual level of investment activity in the European Technology sector; and
  • The level of reporting (“the hype factor” – even though each transaction is only recorded once).

Since its inception in August 2002, the Headline Transactions Index has also proven a good early indicator of the actual level of private investments in Europe as reported by established industry surveys (e.g. VentureOne and Ernst & Young Quarterly Venture Capital Statistics).

Sources of Information

The Index tracks the deals reported the major trade publications and news feeds, including:

  • AltAssets’ Private Equity Newsletter (weekly)
  • Financial Times newspaper (daily)
  • Global Corporate Venturing ezine (weekly)
  • New Energy World Network (daily)
  • TechCrunch (daily)
  • The 451 Group (daily)
  • VentureSource News (daily)
  • VentureBeat (daily)
  • VentureWire (daily)
Geographical Coverage

The Headline Transactions Index covers all VC investments made in Europe by investors, regardless of their geography or investor status. Transactions therefore include investments made by non-European players and investors other than VCs.

Investment Stage Coverage

All stages are reported, from seed to pre-IPO investments, including expansion capital and growth equity transactions. Late stage deals (Series C and up) are also included, with the exception of Management Buyouts (MBO) / Management Buy-ins (MBI) (which tend to involve investments of a different order, c. EUR 50+ mn) and Private Investment in Public Equity (PIPE) / Public to Private (P2P) transactions (which involve publicly-quoted companies).

Accounting for Transactions

Transactions are included in the month of the first announcement to appear in the news.

Amounts are reported in Euros. Any exchange rate conversions are done using the average value of the Euro against the reported currency in the month the transaction is first reported.

Where amounts are undisclosed, the transaction is included in the number of transactions but does not count towards the total size of investments, unless we are able to provide a reasonable reliable estimate. Average deal size is calculated by reference to the number of transactions where amounts are reported.