In a context of cooling on technology stocks, the EY barometer, published on Sunday July 17, of venture capital in France continues to surprise. With 8.4 billion euros raised in France through 362 operations in the first half, it is already 63% better than in the first six months of 2021.
Growth certainly slowed down compared to the same period in 2021 (+ 90% compared to 2020), but which nevertheless makes it a record semester for the French new technologies sector, which ended 2021 with an amount of 11 .57 billion raised. Given the level halfway, Franck Sebag, partner of the firm, has no doubt that this unprecedented level can be crossed again.
A few large operations have enabled this start with a bang in 2022: Qonto (financial services) raised 486 million euros in July, EcoVadis (performance evaluation of corporate social responsibility), 478 million euros in June, Back Market (reconditioning of electronic devices), 450 million euros in January, and Exotec (robotics), 305 million euros also in January.
Competition between funds should slow down
In addition, the number of funding rounds above 100 million euros in France has never been so high over the period, while fundraising between 50 million and 100 million euros has taken a hit, both in volume (−77%) than in amount (−58%). And even if the second quarter remains below the first (3.7 billion, against 4.7 billion), it remains higher than the same period of 2021.
On a European scale, France continues to gain ground on the United Kingdom (+ 12%, only at 18.4 billion euros in the first half) and outpace Germany (− 20%, at 6 .3 billion euros), much more affected by the geopolitical context marked by the war in Ukraine.
However, Franck Sebag admits that the competition between funds – with the presence of many foreign players, very present a few months ago – could slow down, in a more complicated financial context, and lead to a readjustment of the valuations of companies not listed. “It will clean up the market”he believes, adding that this correction should not weigh on the ambitions of private investors.