European venture fundraising 2010 — Q2'17 $6 50 45 $5 40 35 $4 30 $3 25 20 $2 15 10 $1 5 $0 0 1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q 2010 2011 2012 2013 2014 2015 2016 2017 Capital raised ($B) # of funds raised Source: Venture Pulse, Q2'17, Global Analysis of Venture Funding, KPMG Enterprise. Data provided by PitchBook, July 13, 2017. Fundraising figures are quite variable when broken out by quarter. That said, it is evident European fundraising volume has been declining for some years now, even if total commitments collected can still be robust, as experienced fund managers with demonstrated track records continue to raise sizable vehicles. © 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