Funding for European technology companies will plunge by nearly half this year, as US investors increasingly abandon the continent amid a global retreat by venture capital investors.
The amount of money raised by tech start-ups in Europe is expected to reach about $45bn over 2023, according to an annual report compiled by London-based venture capital group Atomico. That is down from $82bn last year.
Venture capital investment has fallen around the world since the pandemic, as rising interest rates hammer the valuations of public technology stocks and push investors to increasingly focus on generating profits.
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