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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), August 2012 to October 2013

# Company Country Sector Round Amount (€mn) Description Investors HTI Issue
1 Mobileye
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 Deezer
France Digital media C 100 Provider of music streaming and discovery services Access Industries, Indinvest Partners October 2012
3 Zalando
Germany Internet services Late stage 100 Online fashion retailer Investment AB Kinnevik July 2013
4 Supercell
Finland Internet services C 100 Developer of online games Atomico, Index Ventures, Institutional Venture Partners April 2013
5 KupiShoes
Russia Internet services Late stage 99 Fashion e-tailer operating in Russia and Kazakhstan Access Industries, Summit Partners, Tengelmann Ventures June 2013
6 Truphone
UK Telecom services C 87 Provider of international mobile phone services for businesses and individuals Minden, Vollin Holdings February 2013
7 Softonic
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 Delivery Hero
Germany Internet services B (internal round) 80 Operator of a portal that provides centralised ordering from a variety of take-away food suppliers Kite Ventures, Kreos Capital, Point Nine Capital, ru-Net, Team Europe Ventures August 2012
9 Spotify
Sweden Digital media Late stage 78 Provider of streamed music services both over the web and via smartphone apps Coca-Cola, Fidelity Investments, Goldman Sachs November 2012
Netherlands Manufacturing process C 65 Maskless lithography for the semiconductor industry ADP Industries, Demcon Twente, Dutch Government, Hoving & Partners, Parcom Capital Management, Rusnano, Technolution September 2012
Source: Go4Venture Advisers HTI Database ©
Includes investors that participated in funding transactions in Europe totalling more than €100 million in 2012

# Investor Country Type # of Investments Total Deal Size (€mn) Latest Fund (€mn) (Year) AUM (€mn) (Year)
1 Index Ventures Switzerland VC 20 221 350 (2012) 2,000 (2012)
2 Accel USA VC 16 216 363 (2013) 4,991 (2012)
3 Balderton Capital UK VC 13 163 371 (2013) 1,453 (2010)
4 IdInvest France VC 7 155 281 (2013) 4,000 (2010)
5 Investments AB Kinnevik Sweden PE 5 154 - -
6 Access Industries USA PE 2 139 - -
7 Northzone Ventures Sweden VC 7 114 130 (2011) 394 (2012)
8 Greylock USA VC 6 113 777 (2013) 1,530 (2012)
9 Goldman Sachs USA PE 2 113 - -
10 Holtzbrinck Ventures Germany Corporate 5 109 177 (2010) -
11 Intel Capital USA Corporate 10 105 76 (2012) 1,032 (2013)
12 Rocket Internet Germany Incubator 3 102 - -
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.