Europe’s founders have never been Repeat founders From operator to founder Share of founders starting a company Share of founders starting a company better each quarter with prior founder each quarter with prior senior experience i.e. “serial founders” (%) experience* at a company that raised in total over $50M (%) Q4 2022 Q4 2022 37% 19% Q4 2018 Q4 2018 Source: Atomico (powered by Dealroom.co, Crunchbase and Revelio Labs) 29% 11% Notes: Based on founders attributes and the date they indicated starting their company. We are limiting the analysis to European founders and excluded “non-tech” companies as defined by Atomico’s proprietary classification model. *Senior experience includes job titles such as VP, C-suite, Head of X. CONFIDENTIAL