Paddy MccGwire, Silverpeak Managing Partner, spoke at the inaugural ScaleUp Conference this week.
The event provided technology entrepreneurs with insights into the current state of the growth funding landscape and the technology sector at large. with a panel of expert speakers from the Scaleup Group, Silverpeak and TechMarketView followed by entrepreneurs, from both private and public companies, sharing their scaleup journeys.
Paddy’s keynote provided an overview of the Series B&C growth funding market for European tech companies highlighting:
- The funding environment in the two years to Q2 2022 has been an extraordinary trend aberration
- Investment in Q3 2022 fell 65% from Q2, to the same as Q3 2019, which was a record level of investment
- The UK had the biggest reduction in number of investments, but still leads Europe by number and value
- Series C megadeals of €100m+ fell from 42% to 7% in Q3