The news also comes amidst a downturn in the global venture capital sphere, a trend to which Europe has not been impervious.
Among the things on which Atomico has built a reputation is its annual research reports on the state of the European technology ecosystem, which focus on how the venture capital end of the market is faring. Its most recent report made for grim reading, noting that amid an ongoing downturn, European startup funding halved in 2023, driven by factors such as geopolitical events, inflation, and interest rates. It also determined that the market, and investment data, had been skewed by 2021 and 2022 because of the global pandemic