From widespread adoption of enterprise AI to more women founders, what investors think will happen in 2024

2023 was a whirlwind year for the VC industry. Funding for venture-backed startups plunged more than 40% and VCs themselves saw fundraising down over 40% through the end of November, according to PitchBook data. 

But just because the heady days of 2021 are over doesn’t mean we didn’t see some very bubbly activity — particularly in, you guessed it, AI. 

Europe saw some of its largest AI funding rounds last year, with VCs ploughing $500m into Germany’s Aleph Alpha in November and French OpenAI competitor Mistral securing two massive rounds last year — most recently its €385m fundraise in December. 

VCs faced their own set of challenges, with some firms opting not to raise another fund and laying off staff. And VC M&A also started to pick up. 

What will 2024 bring? Some of Europe’s top VCs share their predictions — from when we might see a dealmaking rebound to a rise in female founders. The following quotes have been edited slightly for clarity.

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