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A "soonicorn" is defined by PitchBook as a company valued over €500 million with the potential of turning into a unicorn. According to our latest research, European soonicorns are currently worth €126 billion (about $146 billion) in aggregate. How many Europe-based soonicorns are there?
A) 133
B) 153
C) 173
D) 193
Find your answer at the bottom of The Weekend Pitch! |
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A selection from our most-read articles of the past few days.
- For the first time, Anthropic is reportedly worth more than OpenAI—and the valuation flip reflects a widening gap in investor confidence, enterprise adoption and equity returns between the two AI rivals. Find out more
- SpaceX's S-1 is out—and we've put together six charts breaking down everything behind the $18 billion revenue figure, the $4.9 billion net loss, and what the numbers mean for investors eyeing a generational liquidity event. Read it now
- Blackstone and Google's $5 billion joint venture goes beyond data centers—it's a bet that chips, power and compute contracts can be financed like infrastructure, marking a new frontier for PE in the AI boom. Read more
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“If you compare xAI to a traditional SaaS company, the financials look reckless. The ‘insanity’ isn’t in the spending but the bet that by the time other firms get their GPU clusters online, xAI will have already moved the goalposts toward autonomous physical agents. If that payoff happens, the $1B+ per month burn will be viewed as a bargain. If it doesn’t, we are looking at the largest venture-funded correction in history.”
—Harrison Rolfes, a senior research analyst at PitchBook who covers the major AI frontier labs, speaking about the financials of Elon Musk's xAI. To see what else the SpaceX S-1 filing reveals about the Grok maker's accelerating losses, read more here. |
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| (Stas-Bejsov/Getty Images) |
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Answer: C
Our latest data shows that startup valuations in Europe are continuing their upward trajectory. The total number of European soonicorns now sits at 173, supporting a unicorn market that has surpassed €500 billion. Read more in our Q1 2026 European VC Valuations Report. |
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This edition of The Weekend Pitch was written by Jacob Robbins and Nadine Manske. It was edited by Kia Kokalitcheva and Nadine Manske.
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| Tim Draper bought 30K BTC at $632. Now he’s betting on rentals. |
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