European Growth PE is maturing and a segmentation has emerged European Growth PE exists at the intersection of venture capital and traditional private equity. It combines organic value appreciation and fast growth as typically seen in venture capital with a degree of scale and stability more common in traditional private equity. Today, European Growth PE funds account for 17% of…

These were some conclusions when, in September 2020, we were privileged to spend 1.5 days off-site and in person with many of our limited partners. One inevitable topic was how the pandemic has changed technology investing. The pandemic has made technology the new safe haven for investment The global economy is in what could well become the deepest recession of our…

No one can tell yet what the impact of Covid-19 on our health, our society and our economy will be. Without doubt it will have a tremendous impact on European technology. However, we believe companies and investors will emerge stronger than before. — Covid-19 will likely push the global economy into recession In order to suppress the virus and to flatten the curve of infection public life in Europe and elsewhere has been paused since mid-March. Large parts of the economy have stopped operating or slowed down substantially which will push the economy…

The US funds’ foray into Europe is in full swing as Pitchbook’s data shows: Participation of US funds in European venture deals has grown from 8% in 2010 to 17% for early-stage deals and 23% for late-stage deals in 2019:

In September 2019, French President Emmanuel Macron announced €5 billion for French start-ups. This has been unprecedented, but we believe it’s only the beginning of sustained growth of European technology investing. Technology investment in Europe is unreasonably low Technology investment in Europe has been growing at a good pace since the financial crisis in 2007/08. However, if…

In 2003, when Cipio Partners started investing we pioneered in Europe what was soon called secondary direct transactions. Today, we feel we have established a new level of liquidity into a formerly illiquid asset class. From cradle to exit In 2003, when Cipio Partners started investing, the prevailing attitude among…