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Bloomberg
Despite a lack of big consumer deals, and Berlin losing out to London as the European hub of venture capital, German investors have notched an up-tick in deals over the first quarter and are on the hunt for software startups.
Venture capital firms invested $467 million across 87 equity deals in German-based startups in the first quarter, according to data from researcher CB Insights. That compares with $356 million across 91 deals in the first quarter of last year.
However, this is down from $556 million invested in the fourth quarter of 2016, and thanks to a death of big consumer deals, Berlin — Europe’s top destination for VC funds in 2015 — fell to fourth place behind London, Paris and Stockholm last year, according to new data from EY.
“The ecosystem continues to broaden in terms of themes — away from consumer, into software and other things,†said Pawel Chudzinski, co-founder and managing partner at Point Nine Captial.