PitchBook’s Q4 2024 Netherlands Market Snapshot examines the current state of the Dutch private capital market, focusing on the venture capital (VC), private equity (PE), as well as notable exit activity.
Released as part of PitchBook’s ongoing analysis of global markets, the extensive research study highlights the Netherlands’ resilience as well as key challenges amid a shifting economic landscape.
The Dutch venture capital ecosystem in 2024 reportedly showed some signs of stabilization after several years of volatility.
The research report from the team at PitchBook notes that the venture capital deal value reached a substantial €1.8 billion across 215 deals, which is a somewhat modest rebound from 2023 but still significantly below the peak years of 2021 and 2022.”
The latest update from PitchBook further noted that early-stage investments dominated, reportedly accounting for more than 50% of total deal volume, reflecting a relatively cautious optimism among investors favoring relatively less risky, foundational bets.
The report added that seed-stage activity, however, declined by 15% year-over-year, signaling tighter capital allocation for nascent startups.
The PitchBook report pointed out that Amsterdam remained the epicenter of VC activity, hosting 60% of deals, bolstered by its robust tech ecosystem and access to talent.
The research report added that sectors such as cleantech and healthtech led the charge, with standout raises including a notable €150 million round for a renewable energy startup.
Yet, the report underscores a growing concentration of capital in larger, later-stage rounds, leaving smaller players scrambling for much-needed funding.
The detailed report added that this latest trend mirrors broader European dynamics, where risk aversion has tempered VC enthusiasm.
The comprehensive update from PitchBook also mentioned that PE activity in the Netherlands held steady in 2024, with €3.2 billion in deal value across 78 different transactions.
The report further highlights a growing focus on mid-market deals, particularly in manufacturing and business services, which comprised nearly 40% of PE (private equity).