Dutch tech companies raised EUR 2.64 billion in venture capital across 265 deals in 2025, up 11.5% excluding the Nebius outlier in 2024 (which included the 667 mio round from Nebius). Round counts have fallen 14.5% year-over-year, * Light orange in 2024 represents Nebius 667mio round. ** Undisclosed and rounds and rounds with no funding amount are excluded from the analysis. Review the