i5invest Europe || EU Tech M&A Tracker

DACH targets command Europe's highest median EV/EBITDA multiples at 13.5x due to unmatched industrial and tech depth.

• Tech ecosystem edge: SAP,...

Digital sovereignty has moved from regulatory footnote to operational reality in European tech M&A.

• New questions now dominate diligence: data...

UK Private Markets Snapshot

• Q2 2026 UK Market Snapshot: PitchBook report shows UK VC activity resilient with AI megadeals, PE rebounding via...

AI Funding Concentration

• 🔥 PitchBook H1 2026 Data: AI captured 60.3% of European VC deal value (€26.5B out of €44B), with mega-rounds above...

AI captured 60.3% of H1 2026 European VC deal value (€26.5B of €44B), with mega-rounds above €100M driving over half of Q2 totals.

• Capital clusters...

France's private capital markets showed clear divergence in Q2 2026, with VC dealmaking cooling while PE leveraged buyouts rebounded.

• VC softness:...

European Space Tech saw 15 deals totaling 2.2B€ from June 26 to July 19, split between 10 fundraisings and 5 M&A.

Activity peaked at 4 deals/day on...

The European Commission requires Google to open 11 Android features to AI rivals like OpenAI and share anonymized search data, with rollout from January 2027, to enable emerging alternatives to Gemini and Google Search.

Klaus Hommels calls on Europe to cut dependence on US technology and capital, warning it creates strategic vulnerability amid AI export curbs....

Exit Environment Insights

• 🔥 Subdued VC Exits Persist: Many VC firms continue facing slower than anticipated exit activity with lengthened...

• Europe startups raised €39B in H1 2026, highest since H1 2022 and 72.8% of full-year 2025 total
• Exit drought persists, with longer holding periods...

Secondary sales let founders and employees access liquidity without new dilution or company cash impact, shifting from ad-hoc to structured FP&A...

Cross-Border Tech Acquisitions

• 🔥 Uber-Delivery Hero: Uber agreed to acquire Delivery Hero at €41.50 per share for a $14.8B valuation, with...

• EU rules require Google to share anonymized search data with rivals by January 2027 to level the playing field
• Android must support voice...

Berlin-based Omio's proposed acquisition of Rail Europe targets its 25,000-partner global network across 70+ countries rather than its 5 million...

• Uber's €41.50/share cash bid values Delivery Hero at $14.8B, turning Berlin's last major independent food delivery player into a US-owned asset
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AI-driven scale is forcing data center developers into joint ventures as single sponsors can no longer manage capital, power and execution risks...

Europe posted its strongest VC quarter in four years with $24B raised in Q2, yet American investors dominate ownership of top startups while Europe diversifies into defense for sovereignty.

• Omio acquires Rail Europe: Berlin-based Omio buys Paris-headquartered Rail Europe to expand B2B rail distribution and multimodality.
• Uber bids...

• Fund milestone: Acurio Secondaries I FCR closed at €115M, beating its €100M target and targeting small-stakes deals in 8+ year European VC funds.
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