The Largest Venture Capital Firms in Europe

Europe's largest venture firms are measured here by total assets under management or cumulative capital raised, which for most private firms are the only figures that exist. Index Ventures tops the table: its 2024 fund closes brought cumulative capital raised to roughly $15 billion, per the firm's announcement, and it runs dual headquarters in London and San Francisco. Balderton Capital follows at about $7 billion, after a 2024 fundraise that was the largest by a pure European venture firm at the time. Lakestar, the Zurich firm founded by early Spotify backer Klaus Hommels, discloses more than $6 billion. The rest of the top ten maps the continent's hubs: Atomico and Highland Europe in London, Partech and Eurazeo in Paris, HV Capital in Munich, and Northzone between Stockholm and London.

The league table also shows how much of Europe's venture scale sits inside hybrid structures. Two of the largest entries on the list, EQT Ventures and Eurazeo's venture arm, are units of much bigger private equity groups, and Accel qualifies only through the London operation of an American parent. The independents raised aggressively regardless: Atomico's $1.24 billion dual fund in 2024 was its largest ever, Northzone's Fund X reached $1.2 billion, HV Capital closed its ninth fund at €783 million, and Berlin's Cherry Ventures collected $500 million for early-stage deals in 2025, per TechCrunch. Definitions here mix net asset value, committed capital, and cumulative raised figures, and euro conversions are approximate, so close orderings should be read as indicative rather than exact.

Scale remains the continent's structural problem. European venture funds managed roughly $305 billion in 2025, against $1.2 trillion in North America and $1.7 trillion in Asia, per the World Economic Forum's 2026 venture capital report. Annual investment tells the same story: European startups attracted about €66 billion in 2025, roughly a fifth of US levels despite an economy of comparable size. The near term looks better. European VC-backed companies raised $25.7 billion across 1,939 deals in the first quarter of 2026, with a record number of rounds above $1 billion as late-stage capital returned selectively. The firms above are positioned to absorb that capital, and each links through to its Altss profile, where funds, partners, and portfolio moves are tracked.