Start-ups binge on private money as markets around the world dry up

Venture capital deals are going strong in Europe as an abundance of cash, public market turmoil and slumping valuations motivate companies to stay private ever longer.

In the first half of the year, European venture capital transactions raised nearly $57 billion, down just 4 per cent from the same period last year, according to the data provided by analytics firm PitchBook.

The war in Ukraine and a deepening energy crisis, along with the threat of recessions as central banks hike rates to curb runaway inflation have put a damper on risk appetite, virtually shutting down initial public offerings globally. Private investors awash