The venture capital industry, which was hit by lack of funding during the financial crisis, has been slower to bounce back than other sectors in the private equity bracket, but the industry in Europe is showing signs of recovery.

In Europe, 94 VC funds are currently on the fundraising trail, with an aggregate target of €10.3bn, according to data provider Preqin. The number of funds raised fell dramatically during the financial crisis. Last year, 35 VC funds were raised in Europe, totalling €4.5bn, compared with 98 funds in 2008 raising €10.4bn, according to Preqin.