Currently, 45% of surveyed VCs are actively fundraising, with an additional 25% planning to begin fundraising in 2025.

The number of limited partners (LPs) in each fund varies, with 31% of VCs having fewer than 10 LPs and 19% having over 50 LPs.

Mixed opinions exist regarding family offices' interest in VC investments; about a third of respondents believe interest is growing, while a quarter think it is declining.

Some LPs are hesitant to invest due to concerns over the lack of distributions to paid-in capital, fund size, focus, or prevailing economic conditions.

In 2024, European venture capitalists raised approximately €20 billion across 161 funds, marking the lowest number of funds in a decade and a significant decrease from 467 funds in 2022.

A recent survey of 64 VCs revealed that 36% have requested extensions from their limited partners for their latest fundraising efforts, showing a slight improvement from 51% the previous year.

Family offices and high-net-worth individuals are the primary backers for 84% of European VCs, while 37.5% have corporates as LPs and 33% utilize fund of funds.

Respondents indicated they would turn down investments from certain LPs, particularly those associated with controversial industries or perceived as problematic.

Despite the challenges faced, 91% of surveyed VCs are optimistic about returning more capital to LPs in the coming year, a significant increase from 72% last year.

However, only half of the VCs surveyed returned capital to their LPs over the last 12 months, although 91% expect to do more in the upcoming year.

The majority of respondents, 61%, are early-stage investors, while 28% focus on Series A, and 11% on Series B or higher investments.

Notable large fundraisers in the recent period include Index Ventures with $2.3 billion, Balderton at $1.3 billion, Atomico at $1.24 billion, Accel with $650 million, and Creandum at €500 million.