founder response highlighting the importance of industry or thematic expertise (22% of founders), as well the importance of having chemistry with the investor partner (28% of respondents). What is also interesting is just how low down the priority list certain oft-discussed considerations rank for both founders and VCs, such as the diversity of the investment team, prior founder experience, and brand a昀케nity. What are the most important considerations when selecting an investor to lead your next round? The past 12 months, and thinking generally about market, what in your opinion have been the most decisive factors to win a competitive deal situation? Notes: Founder and VC respondents only. Respondents who selected”other” are excluded from data. Numbers do not add to 100 as respondents could choose multiple options. Sources: 59 | Executive summary

State of European Tech | 2023 - Page 59 State of European Tech | 2023 Page 58 Page 60