The value of private equity and venture capital investments increased more than fourfold in 2025 to reach EUR 433.6 million, according to the annual study of the Romanian Private Equity Association (ROPEA), drafted in collaboration with Deloitte.
As a share of the national economy, private equity investment activity reached 0.114% of GDP in 2025, exceeding the levels recorded in other Central and Eastern European markets, the report notes. The increase was driven primarily by transactions in the consumer goods and services sector, where investments increased from EUR 76.6 million in 2024 to EUR 342.8 million in 2025.
The total value of private equity investments made in Romania reached EUR 405 million, compared with EUR 99.1 million in the previous year. The average value of a private equity transaction stood at EUR 21.3 million, compared with EUR 6.6 million in 2024. The number of transactions increased from 15 to 19, indicating the continued maturation of the local market and the ability of funds to support increasingly larger transactions.
According to data reported to Invest Europe by European venture capital funds, their investments in Romanian companies totaled EUR 29 million. According to How to Web data, the total value of investments in companies with a strong connection to Romania – through their headquarters location, the composition of their founding team or significant operational exposure to the region – reached EUR 103.2 million in 2025, including investments made by entrepreneurs, business angels, venture capital funds from outside Europe and other types of investors.
Romanian private equity and venture capital funds continued to raise significant amounts of capital in 2025. Total capital raised reached EUR 197.5 million, making 2025 the second-best year in the history of the local market. Cumulatively, funds raised EUR 453.7 million in 2024–2025.
The strong fundraising performance of the past two years was driven primarily by programs developed under the National Recovery and Resilience Plan (NRRP), particularly the Recovery Equity Fund, the EUR 400 million fund of funds managed by the European Investment Fund.
The local investor base has also diversified significantly, the report shows. Between 2024 and 2025, public institutions and government agencies were the largest source of capital for Romanian private equity and venture capital funds, contributing approximately EUR 227 million, or 50% of total funds raised. They were followed by individuals, who invested EUR 143.1 million, representing 32% of the total, family offices (EUR 42 million, representing 9% of the total), asset managers (EUR 15.9 million, 4%), corporate investors, and sovereign wealth funds.
By comparison, funds in Central and Eastern Europe raised EUR 2.2 billion in 2025, 29% more than in the previous year, largely supported by institutional investors, particularly banks and pension funds. These categories of investors remain underrepresented in Romania.
The total value of exits (measured at investment cost rather than sale price) increased to EUR 662.4 million in 2025, from EUR 98.2 million in 2024, reaching the highest level recorded since data collection began. The increase was driven primarily by sales to strategic buyers (six transactions), which totaled EUR 598.5 million and accounted for approximately 90% of total exit value.
“As the market matures, Romania is becoming an increasingly attractive destination for long-term capital, offering investors access to high-growth companies while also contributing to innovation, job creation and economic convergence with the European Union. These results show that private equity and venture capital investments can create value both for companies seeking capital to support their development and for investors looking for long-term exposure to the real economy,” Andrei Gemeneanu, president of ROPEA, said.
“The strong level of investment activity in 2025 confirms investors’ growing confidence in the potential of the local economy. The evolution of investment activity, supported by both private capital and public initiatives, demonstrates the local ecosystem’s ability to attract significant resources and translate them into real economic growth. Fund-backed companies are not only expanding their operations, but also creating jobs, increasing competitiveness, and contributing to the development of important regional and global players. For example, the number of new jobs created by companies backed by private equity and venture capital funds between 2019 and 2024 is equivalent to the population of a medium-sized city,” Radu Dumitrescu, Advisory Partner-in-Charge, Deloitte Romania, said.
(Photo: Hin255/ Dreamstime)
simona@romania-insider.com
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