A word from A昀케nity After a tough year for many in private capital, sentiment is trending back up. But as the State of European Tech 2023 shows, the path forward is not without obstacles. A time of cautious optimism Investors almost unanimously predict that deal volume will rise in 2024 compared to 2023. According to our research, 89% of global VCs foresee doing the same or more deals in 2024. The optimism is equally strong in Europe, at 87%—a stark change from last year when only two-thirds of European investors forecasted a better dealmaking environment in 2023 compared to 2022. Still, market conditions remain uncertain. Exits are down, one-year VC returns are in negative territory in both the US and Europe, and US investors are withdrawing in record numbers from the European market. 15 | A word from...