i5invest Europe || EU Tech M&A Tracker

European Acquisitions

• 🔥 Scaleway Acquires Qarnot: Scaleway announced the acquisition of Qarnot, a European specialist in high-performance...

ElevenLabs doubled its valuation to $2B in five months, with a secondary tender offer planned by September to let employees cash out at the new...

Two deals highlight diverging European tech M&A trends.

• Scaleway acquires Qarnot to strengthen sovereign European cloud, HPC, and sustainable...

European venture activity strengthened in H1 2026 as AI adoption and larger rounds concentrated capital.

• AI share of deal value and count grew,...

Three cross-border M&A deals stood out this week alongside major fundings.

• Tekever acquired Portuguese AI firm Cloudsweep to boost capabilities
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Exit Environment

• Subdued M&A Activity: Fewer IPOs and subdued M&A activity have reduced typical exit opportunities that return cash to...

European tech shows a robust pipeline in deep tech and defense yet faces a persistent capital gap, with nearly half of late-stage funding still coming...

European PE Fundraising Consolidation

• 🔥 Emerging Managers Marginalized: Emerging PE managers in Europe closed just 16 funds so far this year for...

• Emerging managers closed just 16 funds in Europe so far this year, their lowest share in a decade
• They raised only €3.4 billion total, barely a...

The 7 September OECD-EC conference will examine the Draft New EU Merger Guidelines, focusing on innovation, dynamic competition, efficiencies and...

Venture investors now need to assess companies through two lenses: potential as an enduring independent business and strategic indispensability to...

Pre-deal operational improvements secure transactions and maximize valuation multiples ahead of European tech exits.

Exit Dynamics

• 🔥 Record PE-Listed Gap: PE-backed companies now outnumber listed European firms by a record 2.3x ratio as public markets...

VivaTech framed European AI sovereignty around energy control, local compute, and defense autonomy, with Mistral's €830m debt raise for 200MW capacity...

Fintech exits hit records while private market liquidity tightens across Europe.

Global fintech M&A reached $113B in 2025 with $67.6B in exits,...

Qualcomm is in advanced talks to acquire AI infrastructure startup Modular for ~$4 billion.

In AI-disrupted markets, PE exits demand three shifts.

• Proof: Articulate AI resilience via proprietary data moats and non-replicable KPIs.
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CEE Exit Activity

• 🔥 2025 Exit Volume: Central and Eastern European exits reached €1.71 billion in 2025, up 26% year-on-year and representing...

Exit Trends

• 🔥 GSER 2026 Report: Europe posted the lowest exit growth rate of any region globally while accounting for 37% of global exit...

• Flexstone Partners acquires $3.5B AUM secondaries manager Glouston, creating $15B combined platform amid surging demand
• Global secondaries volume...