Key Takeaways
- • Accelerator Plug and Play ranks as the most active US investor in European venture capital, according to PitchBook data, as Sequoia prepares to close its London office.
- • American investors participated in €48.2 billion (around $54 billion) of European VC deal value through the end of September 2026, up from €39.8 billion a year earlier.
- • Deal value involving US investors is pacing 61.2% above 2025, versus an overall European deal value increase of roughly 31% over the same period.
- • US investors took part in 1,348 European rounds in the first nine months of 2026, a pace almost 15% below 2025, indicating capital is concentrating in fewer, larger bets.
Summary
Accelerators are leading American participation in European venture capital, according to PitchBook. Plug and Play tops the publication's ranking of the most active US investors in European VC, a list compiled from PitchBook data covering activity since 2020.
The ranking arrives as Silicon Valley firm Sequoia said it would end its physical presence in London, six years after announcing its push into Europe. Sequoia said it remains committed to the continent, but the move raised concerns about Europe's attractiveness as a startup hub. PitchBook data, however, indicate that US investor participation remains strong. Per its Q3 2026 European Venture Report, American investors were present in €48.2 billion (around $54 billion) of rounds as of the end of September, up from €39.8 billion a year earlier. PitchBook says US-involved deal value is pacing 61.2% above 2025, compared with an overall increase of 31% in European deal value.
The data also show a shift in deployment patterns. US investors were involved in 1,348 rounds in the first nine months of the year, a pace almost 15% below 2025, meaning they are concentrating capital in a smaller number of bets.
The ranking arrives as Silicon Valley firm Sequoia said it would end its physical presence in London, six years after announcing its push into Europe. Sequoia said it remains committed to the continent, but the move raised concerns about Europe's attractiveness as a startup hub. PitchBook data, however, indicate that US investor participation remains strong. Per its Q3 2026 European Venture Report, American investors were present in €48.2 billion (around $54 billion) of rounds as of the end of September, up from €39.8 billion a year earlier. PitchBook says US-involved deal value is pacing 61.2% above 2025, compared with an overall increase of 31% in European deal value.
The data also show a shift in deployment patterns. US investors were involved in 1,348 rounds in the first nine months of the year, a pace almost 15% below 2025, meaning they are concentrating capital in a smaller number of bets.
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