Over $400 billion has been erased from the value of Europe's tech industry this year

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The combined value of all public and private European tech firms has fallen from to $2.7 trillion from a peak of $3.1 trillion in late 2021, a new report says.

This year saw a reversal of that trend, with foreign investors largely retreating. The number of active U.S. investors in "mega rounds" of $100 million or more dropped 22% from last year.

The rate of unicorn creation also slowed, with the number of new $1 billion-plus unicorns minted in 2022 falling to 31 from 105 last year. "There's a lot of upside," Roman told CNBC Monday. "Right now, we've seen through the year, the beginning of last year, the software and internet markets revaluing, I think that's quite positive and healthy. It's been in strong bubble territory for some time."

 

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