European venture financings by sector European venture financings by sector 2014 — H1'17, VC invested ($B) 2014 — H1'17, number of closed deals 100% 100% Commercial Services 90% 90% Consumer Goods & Recreation 80% 80% Energy 70% 70% HC Devices & Supplies 60% 60% HC Services & Systems 50% 50% IT Hardware 40% 40% Media 30% 30% Other 20% 20% Pharma & 10% 10% Biotech 0% 0% Software 5 6 * 4 5 6 * 14 1 1 7 1 1 1 7 0 0 1 0 0 0 1 20 2 2 0 2 2 2 0 2 2 Source: Venture Pulse, Q2'17, Global Analysis of Venture Funding, KPMG Enterprise. *As of 6/30/2017. Data provided by PitchBook,July 13, 2017. Given relative costs and local initiatives supporting the relatively easier development of pure software plays, the European venture scene is still seeing a disproportionate amount of VC flow to software businesses. In value and volume, however, pharmaceuticals and biotechnology and other healthcare- related spaces are staying robust. © 2017 KPMG International Cooperative (“KPMG International”). KPMG International provides no client services and is a Swiss entity with which the independent member firms of the KPMG network are affiliated. #Q2VC