European startups are on a roll. According to data from Dow Jones VentureSource they have raised more than $2.8 billion (€2.1 billion) from VCs in the second quarter of 2014, the highest quarterly total since that iconic dotcom bust year of 2001. The UK remains the gang-buster country, where companies have raised 28% of the total amount in the second quarter, followed by France with 19% and Germany with 15%.
According to VentureSource, the number of deals fell 6% to 365 in the second quarter of 2014 from 406 in the second quarter of 2013. But the median deal size rose to €2.2 million ($2.9 million) from €1.5 million ($2 million).
Index Ventures was the busiest VC firm in Europe, with 16 deals completed.
The biggest startups are also raising big amounts. Russian online retailer Ozon raised $150 million in April, the UK’s Kobalt raised €84.4 million in June.
In the US private companies raised $13.8 billion in venture capital in the same period.
The data comes at a time when US investors are taking an increasing interest in European companies, with Google Ventures only the latest to announce a whole team and fund in Europe just recently.
The recent IPOs of European companies such as Criteo, Supercell and King.com have also helped. The amount of revenue many of these companies are pulling in right now is proving attractive to investors.