Median deal size ($M) by series in Europe 2010 — Q2'17 Seed Series A Series B $12.5 $12.0 $10.9 $7.3 $6.9 $6.8 $6.0 $5.2 $4.9 $4.8 $3.8 $3.2 $3.0 $3.0 $2.5 $2.4 $1.0 $0.7 $0.6 $0.4 $0.4 $0.4 $0.3 $0.3 2010 2011 2012 2013 2014 2015 2016 2017* Source: Venture Pulse, Q2'17, Global Analysis of Venture Funding, KPMG Enterprise. *As of 6/30/2017. Data provided by PitchBook, July 13, 2017. Driven in part by considerable upward pressure from dry powder, but also by macro dynamics still holding relatively steady, median financing sizes are still at an elevated or even increasing level. © 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