2025 in Review
TLDR
- EQT Ventures and EQT Growth merged into one early-stage platform in 2025, backing AI-native companies from Seed through late Growth across Europe and the US.
Key Takeaways
- Sana was acquired by Workday in the largest European AI exit of 2025; Mollie acquired GoCardless for $1.1B; Wellhub acquired Urban Sports Club.
- Vinted crossed €10B in annual GMV; Parloa became Germany’s first AI unicorn of 2025 with a $120M Series C at unicorn valuation.
- Harvey closed a round led by Andreessen Horowitz valuing the legal AI company at $8B; Lovable raised $330M with EQT Growth participating.
- Nothing raised a $200M Series C at a $1.3B valuation; Perk raised $200M co-led by EQT Growth and acquired expense management company Yokoy.
- New portfolio additions in 2025 included ecoplanet, MarvelX, Reliaquest, Marvel Fusion, Beside, Strawberry, Filament, and Clarifeye.
Why It Matters
- EQT’s unified early-stage platform now covers nine partners and 60+ team members, with offices in 20+ countries and a portfolio network of 300+ companies and 700,000 employees.
- The exits and late-stage rounds in 2025 provide concrete evidence that European AI and consumer tech companies can reach global scale, not just early traction.
- EQT frames 2026 as a continuation of the same thesis: back founders at Seed, plug them into the global network, and accelerate to category leadership.
· 2026-04-01 · Read the original
