Luxembourg-based Earlybird Digital East Fund has claimed the top spot in the 2023 HEC Paris-Dow Jones Venture Capital Performance Ranking, marking the first time a European firm has secured the leading position.
Non-U.S. firms now occupy nine of the top ten positions in the global venture capital ranking, signaling growing global competition in the sector.
Europe's tech scene has been undergoing a shift, with the number of unique active investors doubling between 2019 and 2022, positioning Europe as a global challenger.
The presence of firms from Australia, Austria, China, Denmark, and the United Kingdom in the top rankings shows the broadening scope of global venture capital.