Equity finance for defence and innovation

Europe's weak equity markets and undersized VC funds push scale-ups and defense/space innovation toward US capital and listings.

• US listing drain: 33% of VC-backed European scale-ups (2013-2023) listed in the US rather than Europe, and those that stay list smaller and attract less institutional capital.
• VC scale gap: Europe has roughly six times fewer VC funds than the US, most under €100M, too small for single scale-up rounds that often need €100M+.

Themes, sentiment and reasons are AI-written paraphrases, checked so they never quote an episode. They may contain errors. Not investment advice. Episodes remain the property of their creators.