<p>➀ European VC deals declined for the fourth consecutive year, with H1 2025 seeing a 6.2% drop in value and 3.7% fewer deals; </p><p>➁ AI-related startups were a rare bright spot, accounting for over a third of all VC investment, with €10.1 billion deployed in H1; </p><p>➂ Exit activity and fundraising remained sluggish due to US tariff policy volatility, resulting in limited dry powder and suppressed market recovery prospects.</p>