LONDON / NEW DELHI: In a milestone year for European venture capital, Index Ventures is emerging as a global powerhouse after securing four major decacorn exits in 2025.
The extraordinary streak has positioned the firm to challenge Sequoia Capital’s long-held dominance, with industry analysts calling it one of the most remarkable performance runs in VC history.
Tech commentator Seb Johnson highlighted the developments, describing Index’s returns this year as “absolutely crazy.” He noted that the firm has delivered unprecedented gains across multiple high-growth companies, setting a new benchmark for European venture investing.
Index Ventures’ breakout year is anchored by four blockbuster exits — Figma, Revolut, Scale AI, and Wiz. The Figma IPO stands out prominently, where Index bought shares at just $0.09 each, now trading around $40, giving the firm a staggering 400x return under the leadership of partner Danny Rimer.
Similarly, Revolut’s secondary share performance has produced one of the largest returns ever in VC history, with Index’s Series A investment at $0.48 per share soaring to a valuation of $1200 per share, a 2400x gain led by Martin Mignot.
The firm also secured a massive win with Scale AI, where a Series B investment at $0.16 per share resulted in a 180x return after Meta reportedly acquired shares at $30 each. In another significant outcome, Index’s investment in Wiz at $0.92 per share turned into a 30x return when Google acquired shares at $30, with the deal led by partner Shardul Shah.
Johnson said all four exits qualify as decacorns, calling the streak “a historic run not seen before in European VC.”
Index Ventures, a EUROPEAN firm, is on track to overtake @sequoia as the greatest VC of all time.
This year alone the firm has seen 4 insane exits:
> Figma IPO: Current market cap of $20bn and share price of $40, Index bought in at $0.09/share. 400x return and led by…
— Seb Johnson (@SebJohnsonUK) December 11, 2025
Index partner Danny Rimer, who led two of the biggest exits of the year, has also topped the European Midas List, cementing his reputation as one of the most influential venture investors in the world. His achievements further strengthen Index Ventures’ growing stature on the global stage.
Analysts say that if Index continues at this pace, it is firmly on track to rival Sequoia Capital as “the greatest venture capital firm ever — and one born in Europe.”
With four decacorn exits in a single year, the firm’s extraordinary performance is being viewed as a turning point for Europe’s tech and investment ecosystem, long seen as overshadowed by Silicon Valley.
