
Burn Rate - The Venture Insider Podcast [AI-Translated]
E104 [AI-Translated] Burn Rate Intelligence #1 – European VC H1 2026 | Dealroom & PitchBook
In the first edition of Burn Rate Intelligence, Max Meister and Guy Giuffredi break down the Dealroom report on European VC financing in H1 2026. The headline numbers suggest recovery: USD 44.5 billion in six months. But behind them lies an extremely concentrated market. 60% of European VC capital flows into AI, and over half of all invested money sits in rounds above EUR 100 million – which account for less than 2% of all deals. For Switzerland, the picture is different: CHF 1.245 billion, down 15.5% year-over-year. But the number of deals remained stable. The decline comes mainly from missing large biotech rounds. Meanwhile, hardware reached a new record, and for the first time, Canton Vaud leads Zurich in invested capital. Takeaway: Europe is back – but very selective. And Switzerland isn't gone – it's restructuring.

