EuroTech Valuation Index, 2025 Edition

The European tech valuation index stands at 4.73× in S1 2025, a slight softening versus S2 2024 and well below the post-Covid peak.Based on 11,000+ private valuation multiples (VC and PE), this white paper maps median EV/Revenue across the market.It highlights the challenges in late-stage VC, while Growth Equity rebounds, supported by profitability-led models.Crucially, in S1 2025 public tech multiples exceed PE for the first time since 2021, reopening the path to IPOs.