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European Venture-Backed IPOs, 2000 - 4Q' 2005

Number of IPOs
2000 2001 2002 2003 2004 2005
Industry Group Industry Segment 1Q 2Q 3Q 4Q Total 1Q 2Q 3Q 4Q Total 1Q 2Q 3Q 4Q Total 1Q 2Q 3Q 4Q Total 1Q 2Q 3Q 4Q Total 1Q 2Q 3Q 4Q Total
Healthcare Biopharmaceuticals 10 5 6 21 1 2 3 1 1 2 3 2 7 5 5 1 7 18
Healthcare Services 1 1 1 1
Medical Devices and Equipment 1 3 2 6 1 1 1 3 1 1 1 1 1 3 2 2
Medical Software and Information Services 1 1 1 1 1 1
Healthcare Total 1 13 8 6 28 2 3 1 1 7 2 2 2 1 4 4 11 5 6 1 10 22
Information Technology Communications and Networking 3 8 2 3 16 1 1 2 2 2 2 1 5 1 2 3
Electronics and Computer Hardware 3 1 1 5 2 2 2 1 1 4 1 3 4 1 1 1 3
Information Services 6 12 3 3 24 1 1 2 1 1 3 2 7
Semiconductors 2 2 2 2 8 1 1 2 1 1 2 1 1
Software 15 14 16 12 57 2 4 6 1 2 1 4 3 3 1 1 2 1 5 1 2 2 6 11
Information Technology Total 26 39 24 21 110 4 5 9 3 3 2 8 1 6 7 4 5 2 7 18 4 6 6 9 25
Products & Services Consumer and Business Products 2 2 1 1 1 1 1 1 1 1
Consumer and Business Services 10 10 5 7 32 2 3 1 1 7 1 1 2 1 2 1 4 4 1 1 6
Retailers 3 3 1 1
Products & Services Total 10 15 5 7 37 2 4 1 1 8 1 1 2 1 1 1 1 2 1 5 4 2 2 8
Other Other Companies 2 2 2 1 7 1 2 1 4 1 1 1 1 1 1 2 1 2 5
Grand Total 39 69 38 35 181 9 14 3 2 28 5 4 2 2 13 1 1 1 6 9 7 7 8 13 35 9 18 10 23 60

Amount Raised (Euro M)

2000 2001 2002 2003 2004 2005
Industry Group Industry Segment 1Q 2Q 3Q 4Q Total 1Q 2Q 3Q 4Q Total 1Q 2Q 3Q 4Q Total 1Q 2Q 3Q 4Q Total 1Q 2Q 3Q 4Q Total 1Q 2Q 3Q 4Q Total
Healthcare Biopharmaceuticals € 749.77 € 494.36 € 713.27 € 1,957.40 € 18.00 € 49.36 € 67.36 € 17.53 € 17.53 € 83.44 € 80.28 € 36.14 € 199.85 € 161.05 € 202.94 € 30.11 € 181.16 € 575.26
Healthcare Services € 66.30 € 66.30 € 2.20 € 2.20
Medical Devices and Equipment € 108.36 € 149.33 € 61.70 € 319.39 € 14.00 € 24.63 € 16.16 € 54.79 € 0.76 € 0.76 € 7.52 € 10.15 € 47.53 € 65.19 € 13.80 € 13.80
Medical Software and Information Services € 227.99 € 227.99 € 7.20 € 7.20 € 12.71 € 12.71
Healthcare Total € 108.36 € 899.10 € 784.05 € 713.27 € 2,504.78 € 84.30 € 63.36 € 24.63 € 16.16 € 188.45 € 18.29 € 18.29 € 83.44 € 7.52 € 90.42 € 90.87 € 272.25 € 161.05 € 215.65 € 30.11 € 197.16 € 603.97
Information Technology Communications and Networking € 1,081.91 € 930.66 € 159.77 € 267.46 € 2,439.80 € 11.34 € 11.34 € 20.66 € 20.66 € 91.70 € 95.34 € 3.68 € 190.72 € 26.00 € 53.33 € 79.33
Electronics and Computer Hardware € 187.76 € 30.00 € 6.02 € 223.78 € 163.51 € 163.51 € 20.52 € 1.22 € 3.58 € 25.32 € 10.54 € 51.38 € 61.91 € 70.20 € 11.59 € 33.80 € 115.59
Information Services € 475.77 € 654.75 € 178.82 € 131.79 € 1,441.13 € 10.38 € 6.50 € 16.88 € 5.10 € 10.47 € 15.98 € 184.70 € 216.25
Semiconductors € 105.87 € 180.92 € 275.48 € 52.50 € 614.76 € 23.00 € 35.84 € 58.84 € 57.45 € 10.08 € 67.53 € 2.33 € 2.33
Software € 959.18 € 510.74 € 478.37 € 672.31 € 2,620.61 € 48.67 € 201.56 € 250.23 € 3.71 € 32.88 € 3.30 € 39.89 € 20.38 € 20.38 € 15.07 € 5.97 € 5.33 € 4.34 € 30.70 € 16.18 € 33.84 € 68.29 € 56.45 € 174.76
Information Technology Total € 2,622.73 € 2,464.83 € 1,122.44 € 1,130.08 € 7,340.08 € 212.17 € 212.90 € 425.07 € 24.23 € 34.09 € 6.88 € 65.21 € 23.00 € 76.88 € 99.88 € 164.21 € 122.23 € 5.33 € 75.98 € 367.74 € 117.48 € 99.97 € 95.86 € 274.95 € 588.27
Products & Services Consumer and Business Products € 86.19 € 86.19 € 13.65 € 13.65 € 7.68 € 7.68 € 1.18 € 1.18 € 142.00 € 142.00
Consumer and Business Services € 886.25 € 329.99 € 226.03 € 309.06 € 1,751.32 € 33.15 € 28.23 € 2.60 € 8.18 € 72.15 € 2.82 € 0.76 € 3.58 € 16.01 € 32.32 € 0.14 € 48.47 € 20.23 € 103.40 € 137.80 € 261.43
Retailers € 77.76 € 77.76 € 70.70 € 70.70
Products & Services Total € 886.25 € 493.95 € 226.03 € 309.06 € 1,915.28 € 33.15 € 41.88 € 2.60 € 8.18 € 85.80 € 2.82 € 0.76 € 3.58 € 7.68 € 7.68 € 16.01 € 1.18 € 32.32 € 0.14 € 49.65 € 20.23 € 174.10 € 279.80 € 474.13
Other Other Companies € 92.02 € 83.10 € 62.25 € 48.93 € 286.29 € 35.00 € 45.40 € 3.05 € 83.45 € 1.50 € 1.50 € 21.34 € 21.34 € 22.90 € 22.90 € 24.69 € 10.33 € 328.32 € 363.33
Grand Total € 3,709.36 € 3,940.97 € 2,194.76 € 2,201.34 € 12,046.43 € 364.62 € 363.54 € 30.28 € 24.33 € 782.78 € 42.52 € 36.92 € 2.26 € 6.88 € 88.58 € 23.00 € 21.34 € 7.68 € 76.88 € 128.90 € 263.66 € 130.92 € 128.07 € 189.89 € 712.54 € 278.53 € 360.54 € 310.40 € 1,080.24 € 2,029.70

Medians
2000 2001 2002 2003 2004 2005
1Q 2Q 3Q 4Q Total 1Q 2Q 3Q 4Q Total 1Q 2Q 3Q 4Q Total 1Q 2Q 3Q 4Q Total 1Q 2Q 3Q 4Q Total 1Q 2Q 3Q 4Q Total
Median Amount Raised at IPO ($M) € 53.85 € 38.00 € 35.46 € 42.01 € 43.33 € 26.44 € 12.78 NS NS € 17.08 € 5.80 NS NS NS € 3.44 NS NS NS € 8.90 € 9.54 € 16.01 € 8.95 € 9.32 € 10.08 € 10.29 € 26.00 € 12.40 € 11.59 € 15.12 € 14.90
Median Pre-valuation at IPO ($M) € 189.07 € 125.06 € 122.89 € 132.83 € 128.00 € 113.42 € 48.42 NS NS € 56.25 € 35.69 NS NS NS € 20.38 NS NS NS € 20.64 € 26.87 € 98.80 € 55.54 € 22.63 € 26.63 € 34.93 € 51.99 € 41.45 € 35.51 € 53.20 € 42.02
*NS = Not Significant (VentureOne's methodology requires a minimum of 4 observations to calculate a median)

The investment figures included in this release are based on proprietary research conducted by Dow Jones VentureOne.
Copyright © 2006 Dow Jones VentureOne.