Crossover funds participated in nearly a third of European funding rounds above $100 million in 2021 and were a major driver of the increased pace and scale of investment.

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Location PART 2 - FOUR HIDDEN CHIMNEYS CHAPTER 9: ARE UNICORNS REALLY WHITE? Valuation Gamification

"Crossover funds participated in nearly a third of European funding rounds above $100 million in 2021 and were a major driver of the increased pace and scale of investment."

Atomico's 2022 retrospective explicitly identifies crossover funds as a major driver of the unusually rapid and large-scale investment environment of 2021.

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Source title State of European Tech

Source authors Atomico

Source year 2022

Confidence high

Importance high