PitchBook：2026年法国私募资本市场报告（英文版）（19页）.pdf

1、FRANCEPrivate Capital Breakdown20262026 FRANCE PRIVATE CAPITAL BREAKDOWN2ContentsInstitutional Research GroupNavina Rajan Senior Research Analyst,EMEA Private Capital Nicolas Moura,CFA,CAIA Senior Research Analyst,EMEA Private Capital Oscar Allaway Senior Data Analyst Adi George Associate Data Analy

2、st Published on 20 May 2026Introduction 3VC deals 4VC exits 9PE deals 10PE exits 13Private capital fundraising 15References 182026 FRANCE PRIVATE CAPITAL BREAKDOWN3IntroductionVenture capitalFrances VC market showed momentum in early 2026,with deal activity pacing ahead of the prior year as capital

3、concentrated into fewer but larger rounds.A value-over-volume dynamic became more pronounced as median deal sizes reached an all-time high,driven by both early-and late-stage rounds gaining traction across the funnel.AI also dominated investment by sector,attracting a disproportionate share of capit

4、al and significantly outpacing investment into SaaS,which saw a sharp relative decline.Advanced manufacturing and cleantech also gained ground,with deep tech rounds featuring prominently among the quarters largest transactions.Nontraditional investor participation remained elevated and above the Eur

5、opean average.Corporate venture capital(CVC)investors played a particularly active rolea dynamic seen as critical to scaling startups within Frances AI ecosystem.Exit activity got off to a slow start in 2026,pacing below 2025 levels in both value and volume.Acquisitions and buyouts continued to domi

6、nate,accounting for the majority of exits against just a single IPO in the quarter.The private-for-longer theme continues to play out,with median time to exit reaching an all-time high as the valuation gap between late-stage private companies and public markets persists.More broadly by vertical,SaaS