Number of European tech investment deals drops by a quarter

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Every quarter UK-based executive search company Calibre One, which works with VC and PE backed tech companies, releases some research into tech investment. Now obviously one has to take this with a pinch of salt – it’s a PR exercise for them after all. However, it’s not in their interest to get the research wrong and it makes for pretty interesting reading. Plus, they have released it to TechCrunch Europe first.

The heads-up on this quarter’s report is essentially this: investment in the “early-stage” technology sector seems to be weathering the global storm better than most. That’s not to say it’s all rosy of course, and their definition would probably be around $500k and upwards. And Europe is not doing that great – like we didn’t already know this?

According to their figures tech investment in the US is slightly up (from $1.28Bn in Q4 2008 to to $1.48Bn in Q1 2009) which may or may not mark the end of the downward trend.

However, while investment levels in $ terms in Europe as a whole kept reasonably stable at $0.76Bn, the number of investments was down over 25% (from 204 in Q4 to 142 in Q1). In other words, European tech investing is way down over concurrent quarters.

The UK especially had a very weak Q1 with only $112M invested compared with $294M the previous quarter.

Government bailouts are reducing cost of investing in exciting growth technology companies, but this would really only apply at the top end of the scale. The average size of investment in the UK, for instance, went down to its lowest level since Q2 2007 – $5.6M. This is a problem we’ve highlighted this week.

Since Europe tends to lag behind the US by 12-18 months, this could mean 2009 will as bad, though there may be some uptick in growth towards the end of the year. It’s pretty much anyone’s call at this point of course.

The Index is downloadable in PDF format from Calibreone.com

I’ve pulled out the raw text about Europe to make it more Google friendly, click more for this

United Kingdom
Month Company Total ($US) Investors Country

7-Jan Mirics Semiconductor 6,867,640 Acacia Capital Partners, Intel Capital, Pond Ventures
13-Jan Tribold 10,565,600 Eden Ventures, Intel Capital, DFJ Esprit
14-Jan Magic Studio 1,109,388 Andromeda Capital, South East Growth Fund
16-Jan HubDub 1,151,253 Pentech Ventures, Scottish Co-Investment Fund
14-Jan MiLife undisclosed New Venture Partners, Unilever Partners
20-Jan Zoopla 5,329,875 Atlas Ventures, Octopus Ventures
20-Jan InforSense 5,018,660 existing investors
20-Jan Maxymiser 3,037,610 Pentech Ventures, Scottish Enterprise
27-Jan My Home Move 4,619,225 Smedvig Capital
30-Jan MyAction undisclosed Imperial Innovations
3-Feb Cambridge Broadband Networks 7,660,060 Accel, Adara, Amadeus, TVM, undisclosed investors
5-Feb Viagogo 15,000,000 Index Ventures, private investors
9-Feb CamriVox undisclosed Create Partners Limited
10-Feb Clearpace Software 4,000,000 Doughty Hanson Technology Ventures
11-Feb Exosect 2,842,600 Oxford Capital Partners, WHEB Ventures, Entrepreneurs Fund
13-Feb Nexeon Limited 14,200,000 Imperial Innovations, PUK Ventures
19-Feb Slicethepie 1,716,910 private investors
25-Feb Mendeley 2,000,000 undisclosed investors
25-Feb Imagini 13,500,000 Atomico Investment, Horizon Ventures, Northzone Ventures
2-Mar OmPrompt undisclosed undisclosed investors
2-Mar Fjord undisclosed Beringea Limited, GP Bullhound
3-Mar Ensembli undisclosed Enterprise Ventures, South Yorkshire Investment Fund, Viking Fund
11-Mar Dezineforce undisclosed IQ Capital, DN Capital, private investors
16-Mar Gekko undisclosed Velocity Capital, Business Angels
18-Mar Nimbus Partners undisclosed Chevron Technology Ventures
24-Mar FreeAgent Central undisclosed business angels
26-Mar Streetbroadcast undisclosed Apax Partners
26-Mar ICA Group 2,842,600 Foresight Group
26-Mar ChemistDirect 4,263,900 Atomico Investment
26-Mar Evolutec Group undisclosed Nanoco Technologies, Aquarius Equity Partners, Gartmore Investment, Manchester Technology Fund, Mitsubishi UFJ Capital, North West Seed Fund, ORA Capital Partners, Universtiy of Manchester, YFM Private Equity
26-Mar Comply Serve 1,137,040 Catapult Venture Managers, MidVen
26-Mar Mirada 2,131,950 Albion Ventures
30-Mar TweetDeck 3,000,000 Betaworks

Total capital invested 111,994,311
Total number of investments for the quarter 32
(including undisclosed investments)

France
Month Company Total ($US) Investors Country

8-Jan Newsteo 1,016,939 Grand Delta Angels, Mediterranee Investissements France
12-Jan MyMajorCompany 3,962,100 private investor France
14-Jan Kewego 6,207,290 Banexi Ventures Partners, CDC Enterprises FP Gestion France
24-Jan assurOne 15,188,050 Seventure, CDC Enterprises, a private investor France
26-Jan MeteoJob 1,056,560 Quatuor solutions, private investors France
26-Jan Exakis undisclosed ICSO, IRDI, Naxicap Partners France
26-Jan Talend 12,414,580 AGF Private Equity, Balderton Capital France
27-Jan Kalray 3,301,750 ACE Management France
30-Jan 24h00 8,584,550 AGF Private Equity, Seventure Partners France
30-Jan Up & Net 1,320,700 CapDecisif, Credit Mutuel ARKEA France
3-Feb Squid Solutions 3,962,100 Neptune Technologies, Banque de Vizille, private investors France
12-Feb Inside Contactless 5,282,800 Alta Berkeley, GGV Capital, GIMV, Motorola Ventures, France
NIF SMBC Ventures, Nokia Growth Partners, Qualcomm Ventures, Siparex Group, Sofinnova Partners, Vertex Management, VISA International
12-Feb Mobiles Republic undisclosed Creathor Venture France
17-Feb E-Trend 5,679,010 Alven Capital, Credit Agricole Private Equity France
17-Feb Wanino 3,962,100 Alto Invest, Entrepreneur Venture, Alven France
17-Feb Petits Petons 1,122,595 BNP Paribas France
23-Feb Oslo software 977,318 finarea France
2-Mar INL 2,641,400 Cap Decisif Management France
2-Mar SC2X 1,320,700 GSO Capital Parnters, OTC Asset Management France
3-Mar Leyio 1,981,050 ICSO Private Equity, IRDI France
4-Mar m2m undisclosed private investors France
5-Mar B.A.S 924,490 SIGMA Gestion France
9-Mar Central Test 990,525 undisclosed investors France
11-Mar Stantum Technologies 13,207,000 CDC Innovation, Auriga Partners, XAnge CApital France
16-Mar Ion Beam Services 4,622,450 Vizille Capital Innovation, BNP Paribas France
16-Mar Keldelice 1,981,050 Credit Agricole Private Equity France
18-Mar YellowKorner 3,962,100 A Plus, 360 Capital France
26-Mar Cleor Boucle 3,301,750 Banexi Capital Partners, BNP Paribas, Capzanine France
26-Mar Jacques Giordano Industries 13,500,000 Northzone Ventures, Horizon Ventures, Atomico Investments France
26-Mar Eeple undisclosed Bouygues Telecom France
3-Mar mcTel 2,641,400 OTC Asset Management Monaco

Total capital invested 125,112,357
Total number of investments for the quarter 31
(including undisclosed investments)
Average investment 4,633,791
Total number of undisclosed investments 4

Germany/Austria/Switzerland (DACH)
Month Company Total ($US) Investors Country

12-Jan Vasssu undisclosed private investors, Vivax, First Love Capital Austria
24-Jan Tripwolf undisclosed MairDumont Group, Holtzbrinck Ventures Austria
7-Jan Bettenjagd undisclosed Investitionsbank Germany
7-Jan Music Networx undisclosed DuMont, private investors Germany
7-Jan update4u undisclosed Asseco Germany
12-Jan IMM Holding 2,377,260 SC-Kapital Germany
14-Jan Novaled 11,225,950 CDC Enterprises Innovation, Credit Agricole Private Equity, Germany eCapital New Technologies Fonds, TechFund Europe Management, TechnoStart
14-Jan Scholarz.net undisclosed a private investor Germany
15-Jan Youmix undisclosed J.C.M.B Germany
15-Jan Pennergame undisclosed private investors Germany
20-Jan KennstDuEinen.de 5,546,940 Econa AG, BrainsTo Ventures Germany
20-Jan Aupeo undisclosed IBB, J.C.M.B., Ventegis Capital Germany
24-Jan stylefruits.de undisclosed CREATHOR Germany
26-Jan KABOA undisclosed High-Tech Gründerfonds, Bayern Kapital, Web Holding, Germany Neuhaus Partners
27-Jan VIOSO undisclosed Hasso Plattner Ventures, KfW Germany
2-Feb Jobmensa undisclosed private investors Germany
9-Feb Sofatronic undisclosed Neuhaus Partners Germany
9-Feb iVerein undisclosed Medienhaus Lensing Germany
11-Feb bookandsmile undisclosed Bauer Media Group Germany
16-Feb Ubigrate undisclosed High-Tech Gründerfonds Germany
17-Feb Preisbock 1,320,700 bm-t, private investors Germany
23-Feb Spreadshirt 13,207,000 Accel Partners, Kennet Partners Germany
26-Feb Stylight undisclosed Holtzbrinck Germany
3-Mar ISIS 1,716,910 Leonardo Venture Germany
9-Mar sim4tec undisclosed High-Tech Gründerfonds Germany
18-Mar Tellja undisclosed CREATHOR Germany
26-Mar ASSIT 1,320,700 S-Refit Germany
26-Mar SimuForm undisclosed High-Tech Gründerfonds,LBBW Venture Capital, KfW, Germany EnjoyVenture
31-Mar Swoopo undisclosed August Capital Germany
31-Mar Mando.TV undisclosed BMP, IBB Beteiligungsgesellschaft Germany
15-Jan ReVolt Technology 13,207,000 Northzone Ventures, RWE Innogy, Sofinnova Partners, Switzerland
TVM Capital, Verdane Capital, Viking Venture
3-Mar Eboutic.ch 1,320,700 Alven Capital Switzerland

Total capital invested 51,243,160
Total number of investments for the quarter 32
(including undisclosed investments)
Average investment 5,693,684
Total number of undisclosed investments 23

Belgium/Netherlands/Luxembourg (BENELUX)
Month Company Total ($US) Investors Country

18-Jan Navitell 2,641,400 SFPI-FPIM Belgium
2-Feb Tvtrip 9,244,900 AGF Private Equity, Balderton Capital, Partech International Belgium
15-Mar LCL Belgium 1,981,050 KBC Arkiv Belgium
26-Mar Enfinity Management 66,035,000 Waterland Private Equity Belgium
7-Jan eFresh.com 5,679,010 undisclosed investors, Rabobank The Netherlands
29-Jan Anteryon 6,603,500 BNP Paribas, existing investors The Netherlands
8-Mar Myngle 1,320,700 Rabobank The Netherlands
16-Mar Optisense undisclosed PPm Oost The Netherlands
16-Mar Amarcon undisclosed PPm Oost The Netherlands
17-Mar Greetz 9,244,900 DFJ ePlanet Ventures, Prime Technology Ventures The Netherlands
18-Mar Pharmaps undisclosed PPm Oost The Netherlands
26-Mar BioMCN 47,545,200 Waterland Private Equity The Netherlands

Total capital invested 150,295,660
Total number of investments for the quarter 12
(including undisclosed investments)
Average investment 16,699,518
Total number of undisclosed investments 3

Northern Europe
Month Company Total ($US) Investors Country

10-Feb TraceWorks 3,037,610 Nordic Venture Partners Denmark
19-Mar Playdead 10,697,670 Vaekstfonden, CAT, FAHU Fonden Denmark
24-Mar GoViral 8,584,550 Kennet Partners Denmark
22-Jan Axel Technologies 3,169,680 Nexit Ventures Finland
29-Jan Eniram 6,603,500 Conor Venture Partners, Ferd Venture, Finland
Finnish Industry Investment
10-Feb Conformiq Software 3,962,100 Nexit Ventures Finland
17-Feb Against Intuition undisclosed Opean Ocean, Finnish Industry Finland
18-Feb EpiCrystals 7,924,200 VNT Management Finland
15-Jan BACH Technology undisclosed bm-t, Time Power, DFR Asia, Two Four Seven Norway
11-Mar Nor Sun 163,000,000 Good Energies, Scatec AS and Norsk Hydro Norway
27-Jan QuiQom undisclosed Industrifonden Sweden
17-Feb Conveneer 4,220,000 Industrifonden, Arrow Venture Capital Sweden
20-Feb Avtre undisclosed undisclosed investors Sweden
17-Mar Edgeware 8,000,000 Amadeus Capital Partners, Creandum KB, Micron Technology Sweden

Total capital invested 219,199,310
Total number of investments for the quarter 14
(including undisclosed investments)
Average investment 21,919,931
Total number of undisclosed investments 4

Southern Europe
Month Company Total ($US) Investors Country

18-Mar Banzai undisclosed Quantica Italy
7-Jan salir.com 528,280 Caja Navarra Spain
4-Feb Codice software undisclosed Bullnet Capital Spain

6-Mar Agnitio 7,263,850 Elaia Partners, Nauta Capital, Neotech Capital Spain

Total capital invested 7,792,130
Total number of investments for the quarter 4
(including undisclosed investments)
Average investment 3,896,065
Total number of undisclosed investments 2

Ireland
Month Company Total ($US) Investors Country

12-Jan Global Medical 1,716,910 Mianach, Enterprise Ireland
14-Jan FireComms 5,000,000 undisclosed investors
27-Jan OfficeMetrics 1,320,700 AIB Seed Capital Fund, Enterprise Ireland, private investors
Total capital invested 8,037,610 Total number of investments for the quarter 3
(including undisclosed investments)
Average investment 2,679,203
Total number of undisclosed investments 0

Eastern Europe
Month Company Total ($US) Investors Country

26-Mar Privat Trade 8,000,000 ABRT Venture Fund, Mangrove Capital Partners Russia

Total capital invested 8,000,000
Total number of investments for the quarter 1
(including undisclosed investments)
Average investment 8,000,000
Total number of undisclosed investments 0

Israel
Month Company Total ($US) Investors Country

12-Jan N-Trig 23,112,250 Canaan Partners, Evergreen, Aurum Ventures MKI, Challenger, Microsoft
25-Jan VideoCells 3,301,750 Private investors
25-Jan Ginger Software 3,037,610 Private investors
27-Jan Modu 7,000,000 Qualcomm Ventures
10-Feb Tvinci 1,600,000 Undisclosed investors
10-Feb Pontis 19,650,000 Accel Partners, EvergreenVenture Partners, Norwest Venture Partners, Sequoia Capital
3-Mar Kenshoo undisclosed Arts Alliance, Sequoia Capital
4-Mar Onset Technology 3,000,000 Cedar Fund, Challenge Fund-Etgar, Jerusalem Global Ventures
5-Mar Comability 4,000,000 Stata Venture Partners, Vertex Venture Capital
11-Mar Cotendo 7,000,000 Benchmark Capital, Sequoia Capital
18-Mar Commex Technologies 3,500,000 Vertex Venture Capital
25-Mar BriefCam 2,600,000 Aviv Venture Capital
31-Mar Axxana 4,000,000 Gemini Israel Funds

Total capital invested 81,801,610
Total number of investments for the quarter 13
(including undisclosed investments)
Average investment 6,816,801
Total number of undisclosed investments 1

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