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OverviewAPI
European venture capital (VC) dealmaking has plummeted in the first half of 2023, with a 60.8% drop in deal value compared to H1 2022. The decline is attributed to economic headwinds, fundraising challenges, and a subdued IPO market. VCs are shifting their focus from growth to cost-cutting, leading to mass layoffs and hiring freezes at startups. The UK and Ireland have witnessed the highest number of fund closings.

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