After the slump in sentiment at the end of 2025, the business climate on the German venture capital market has stabilised again at the beginning of 2026. The sentiment indicator rose slightly in the first quarter of 2026, up 6.2 points to -25.9 points. Despite this modest increase, the VC business climate therefore remains subdued and is well below its long-term average. The slight rise is due to an improved assessment of the current business situation by early-stage investors, while business expectations have scarcely changed. The somewhat more pessimistic assessment of expectations compared with the current situation suggests that early-stage investors are not anticipating any significant improvement over the next six months either.

German Venture Capital Barometer 1st Quarter 2026(PDF, 203 KB, accessible)

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