CEE accounted for 2.2% of total European investment value, up from 1.9% in 2023, as regional investment grew roughly two times faster than the European total. Those are the findings of the latest 2024 Central & Eastern Europe Private Equity Statistics from Invest in Europe, the association representing Europe’s private equity, venture capital and infrastructure sectors, as well as their investors.
This most comprehensive study of CEE private equity and venture capital activity across region, done in partnership with law firm Gide Loyrette Nouel, shows strong double-digit increases in fundraising, investment and divestment, putting activity value back in line with recent historical averages, as flagship transactions pointed to a recovery in market confidence, and international investor appetite increased.
Key findings
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- Investment value jumped by 50% to €2.83 billion in 2024, in line with the average of the last five years, with buyouts up 79% to almost €2 billion for the year. The number of companies receiving investment fell by 34% to 333, mainly due to a reduction in the number of venture capital investments, while also indicating larger transaction sizes across buyouts, venture and growth capital.
- Private equity and venture capital firms made exits from 123 businesses, an increase of 17% on 2023 levels.
- IPOs were the driver of divestment value, accounting for €591 million or 44% of the total, largely driven by the year’s largest exit.
- Trade sales were the most significant divestment route by number of companies – 37 of them, or 30% of the total, although were down in terms of value.
- CEE fundraising picked up sharply by 66% to €1.42 billion in 2024, also back in line with the industry’s five-year average. Venture capital fundraising trebled in absolute terms to €657 million, providing significant firepower for new startup funding, particularly in the ICT sector which accounted for over 50% of VC company investments.
- Fundraising from European investors based outside the CEE region rebounded by 58% in absolute terms to €584 million.
“The CEE region has fired on all cylinders”
Invest Europe’s CEE statistics show increased investment and fundraising activity relative to overall European levels in 2024. CEE accounted for 2.2% of total European investment value, up from 1.9% in 2023, as regional investment grew roughly two times faster than the European total. At the same time, the region’s share of total European fundraising doubled to 1.2% in 2024. CEE divestments made up 2.9% of total European exit value, down modestly on the previous year as all-Europe divestment activity rose at a faster pace.
Eric de Montgolfier, CEO of Invest Europe, commented:
“2024 saw a strong rebound from 2023 lows of CEE activity. Fully integrated into the European private equity market, with growing economies, the CEE region has fired on all cylinders with investment, divestment and fundraising activity progressing. More private capital flowing into experienced managers can fund more dynamic CEE companies, led by talented individuals with ambitious goals.”
Bill Watson, Chair of Invest Europe’s CEE Task Force, added:
“The region’s strong divestment activity in 2024 demonstrates managers’ ability to return cash to investors despite difficult European conditions. Public markets and strategic investors remain viable sale avenues as sales to other private equity funds continues to provide an additional route to liquidity. That will only result in more success stories over time, bringing benefits for investors, the regional economy, and Europe as a whole.”
In addition to comprehensive data covering buyouts, growth capital and venture capital, Invest Europe’s 2024 CEE Statistics present case studies that show companies growing with private capital backing, creating new jobs, and generating strong returns for investors.
The report also draws on broader economic data to show the growth in the CEE region and its ongoing convergence with countries throughout the rest of Europe. CEE GDP per capita as a percentage of the European average rose from 41.8% in 2010 to 62.4% in 2024, representing a 20.6 percentage point increase. Over that time, ties with the EU and the rest of the world strengthened, with international trade accounting for 58.8% of the region’s more sizeable GDP in 2024 compared with 52.9% in 2010.
Across the region, private equity and venture capital investment equated to 0.112% of GDP in 2024, roughly a fifth of the European average of 0.551%, indicating the potential for the industry to play a greater role in growing CEE economies, and by extension a stronger and more competitive Europe.
In the full 2023 Central & Eastern Europe Private Equity Statistics report you can find detailed activity data by region as well as country.
