Europe closing Share of global capital invested in sub-$5m rounds by region, 2013, 2018 the gap with and 2023 the US Share 59% Europe 60% United States 45% 38% 36% 29% 30% 25% 18% 15% Source: Atomico (powered by Dealroom.co 2013 2018 H1’23 and Crunchbase) Notes: Data is as of 15 May 2023. Excludes the following: biotech, secondary transactions, debt, lending capital, and grants. Investor Summit 2022 - Confidential