The adjusted Cumulative month-by-month capital invested in Europe by year market reality Funding is here to stay $125B 2021 $106B $100B 2022 $83B $75B $B 2023F $51B $50B 2020 $38B $36B 2019 $25B Pre-2018 Source: Atomico (powered by Dealroom.co and Feb Jan Mar Apr May Jun Jul Aug Sep Oct Nov Dec Crunchbase) Notes: Data is as of 14th of May, with May total Source: Atomico ( powered by Dealroom and extrapolated based first half of the month data. Full Crunchbase) year extrapolated based on year to date data. Excludes the following: biotech, secondary transactions, debt, lending capital, and grants.