Sequoia's London Exit Not a Sign US Investors Are Souring on Europe
Summary
U.S. investors have supplied most of the venture capital flowing into European startups this year, especially AI companies, despite Sequoia Capital closing its London office. Some U.S. firms say they can invest in Europe without a local office, while others have opened or expanded European teams to stay close to founders and help companies enter the U.S. market.Key Facts
- PitchBook data puts investment in European startups at $58.7 billion so far this year.
- U.S. firms provided 70 percent of that investment, according to PitchBook.
- AI companies received 68 percent of European startup investment so far this year, above PitchBook's initial 50 percent forecast.
- Sequoia said it does not see a need for a local European office and can focus on the region from the Bay Area.
- Andreessen Horowitz closed its London office last year but remains active in Europe.
- Brighton Park Capital opened a London office after missing European deals because it lacked staff on the ground.
- Brighton Park and other investors put $60 million into British AI startup Orbital, which automates real estate due diligence.
- Brighton Park Capital manages about $4.5 billion in assets.
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