VC Angle Weekly Briefing #34: Andreessen Horowitz Raises $15B (18% of US VC)
VC Angle Weekly Update #34
Hey - welcome to the thirty-fourth edition of VC Angle Weekly Updates! As always, we're keeping tabs on what actually matters across 🇪🇺 European tech, as well as relevant global tech news. If something broke the news this week and it's worth your time, it's probably below. Scroll on for the deals, reads, and reports you'll want on your radar.
In This Edition:
Andreessen Horowitz raises $15B representing 18% of all US venture capital in 2025
60+ European economists push digital euro to reduce US payment system dependence
Google, Meta, Netflix avoid binding EU regulations under Digital Networks Act
Europe attracts 9x less VC per worker than US despite infrastructure advantages
Major rounds: Swap (🇬🇧 $100M), FineHeart (🇫🇷 €83M), Amgen acquires Dark Blue for $840M
⏱️ 3:50 Reading Time
💥 Main Events Past Week
Andreessen Horowitz raises $15B across six funds, representing staggering 18% of US VC dollars
Andreessen Horowitz raised $15B across six funds including American Dynamism ($1.176B), Apps ($1.7B), and Growth ($6.75B), representing 18% of all US venture capital in 2025. Ben Horowitz framed the fundraise around maintaining American technological leadership in AI and crypto against Chinese competition, with investments targeting biology, health, defense, and education.
Digital euro dubbed the solution to US control of global money
Over 60 European economists, are urging EU lawmakers to support the digital euro project, arguing it’s essential to protect European sovereignty and reduce dependence on US payment systems. The proposal faces opposition from Europe’s banking industry, which warns the digital euro could undermine private sector payment initiatives and offer little consumer benefit.
Big tech escapes binding regulations under EU's Digital Networks Act
Google, Meta, Netflix, Microsoft, and Amazon will avoid binding regulations under the EU's Digital Networks Act despite telecoms lobbying for stricter rules. The DNA, to be presented January 20, will subject big tech only to voluntary cooperation rather than mandatory obligations, while standardizing spectrum licensing and allowing governments to extend the 2030 fiber infrastructure deadline.
📰 Other News
Europe's data center bond market heats up with at least five issuers planning €3-5B in asset-backed securities
Zilch acquires Lithuania's Fjord Bank to gain European banking licence
US imposes visa restrictions on EU tech officials as transatlantic digital regulation dispute escalates
Does Google's $32B Wiz acquisition threaten European cloud sovereignty?
European energy storage startups raise €2.14B with mechanical solutions taking largest share at €696.7m
Revolut among the top European candidates to IPO in 2026. See the list here.
Pitchbook’s 5 predictions for European VC in 2026
👇🏼 Read some of our previous weekly reports to stay in the loop with 🇪🇺 European tech news:
💶 Where Funds Went (Or Will Go)
Startups
🇬🇧 Swap — $100M | E-commerce operating system streamlining logistics operations.
🇬🇧 Biographica — £7M | AI platform accelerating crop-trait discovery for faster agricultural breeding.
🇩🇪 CertHub — €6.2M | Automated AI solution simplifying medtech compliance and certification paperwork.
🇳🇱 ViCentra — $13M | Kaleido insulin patch pump expanding manufacturing capacity and developing next-generation systems.
🇫🇷 BrightHeart — €11M | AI-powered prenatal ultrasound screening technology.
🇪🇸 Lookiero Outfittery Group — €17M | Online personal shopping platform investing in AI-driven style personalization.
🇪🇸 Tucuvi — $20M | Voice AI assistant (LOLA) handling clinical phone calls and patient follow-ups automatically.
🇳🇱 ShanX Medtech — €24M | Fast diagnostic testing for antibiotic-resistant infections.
🇬🇧 Engitix — €21M | Cancer and fibrosis treatments targeting extracellular matrix (Series A extension).
🇫🇷 FineHeart — €83M | FlowMaker implantable device treating advanced heart failure.
🇮🇸 Alvotech — €100M (debt) | 2-year financing supporting operational liquidity and biosimilar drug development pipeline.
M&A Deals
🇬🇧 Accenture → Faculty | Acquisition announced
🇺🇸🇬🇧 Amgen → Dark Blue Therapeutics — up to $840M (~€718M) | AML oncology pipeline add-on.
🔍 Reads & Reports
Europe attracts 9x less VC per worker than US despite robust infrastructure
Josemaria Siota: Europe attracts 9x less venture capital per worker than the US despite having EIB, EIF, and InvestEU. The new European Innovation Council report identifies two gaps: growth finance, where startups struggle to access expansion rounds above €50m, and innovation finance, where short investment horizons constrain late-stage deep-tech capital. The report proposes pan-European fund-of-funds and blended finance to crowd in private capital.
Clifford Chance expects European regulators to approve large ‘4-to-3’ consolidation deals that previously faced competition barriers, while US regional bank merger approvals have been cut from 12-18 months to under nine months.
"We are expecting sustained, strong activity in the year ahead, led by strategic, high-quality transactions rather than high-volume activity. The US is leading the charge, but Europe is also poised to be a focus for cross-border transactions in 2026.”
👋 That’s a wrap for this week.
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Hi! Interesting to see the rise of mega funds such as Sequioa and a16z. I think venture is overall splitting into two tiers: Mega-funds and micro funds. The one's in the middle will get wiped out.
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