Venture Capital recovers pre-pandemic levels Total investment amount in 2023 (Transaction Value2) totaled €13,073M, reflecting the ability of Venture Capital and Private Equity sector to drive supplementary financing Second best fundraising figure on record Dry powder is at an all-time high The Middle Market continued its activity Although slower compared to recent years, with a total of €1,736.9M across 74 investments. With €899M across 687 investments. The role of domestic GPs stood out, with 64% of total investment. Total of €11,376M in Private Equity transactions and €1,697M in Venture Capital. Domestic investors (LPs) were the main source of new capital for Spanish funds in both Venture Capital and Private Equity (€2,702M), and Spanish family offices stood out in their support of Venture Capital and Private Equity as an investment asset. Domestic GPs have approximately €6,038M in equity available to invest