SIGNALCapital Markets·Jun 17, 2026, 4:07 AMSignal75Medium term

Tech Exchange

Tech Exchange

This series features conversations between FT journalists and the technology industry’s leaders, innovators and thinkers. In the latest instalment, Luciana Lixandru, global co-lead of Sequoia’s early-stage investment business, talks about why it is time for ‘act two’ for Europe’s tech sector

Why this matters
Why now

Europe's tech sector is seeing renewed interest and investment, driven by a maturing ecosystem and global economic realignments that emphasize regional strengths.

Why it’s important

This indicates a potential shift in global tech power dynamics and investment flows, moving beyond a sole focus on Silicon Valley and East Asian hubs.

What changes

Investment strategies will increasingly recognize Europe as a significant and growing early-stage tech market, fostering more localized innovation and competition.

Winners
  • · European tech startups
  • · European venture capital firms
  • · European talent pool
  • · Early-stage investors
Losers
  • · Tech ecosystems overly reliant on US capital
  • · Regions failing to nurture local tech talent
  • · Late-stage investment firms (comparatively)
  • · Complacent incumbent tech companies
Second-order effects
Direct

Increased funding and valuations for European tech companies.

Second

Greater technology independence and innovation capacity within Europe, reducing reliance on other major tech blocs.

Third

Europe potentially becoming a global leader in specific tech segments, attracting more international talent and capital.

Editorial confidence: 90 / 100 · Structural impact: 65 / 100
Original report

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