The Midas List Europe, Forbes’ data-driven ranking of the top 25 VCs in Europe and the Middle East, is back for its ninth year. Submissions are open through October 23.

Europe’s top startups investors are riding the wave of a new influx of AI talent forming startups on the continent, with companies like Elevenlabs, Mistral and Black Forest Labs competing with the world’s best and commanding billion-dollar plus valuations. This year’s rankings also face a shakeup thanks to Klarna’s $20 billion IPO, one of largest exits for local investors, and a flurry of three comma deals that promise to shake up this year’s rankings.

Submissions for the Midas List Europe 2025, the definitive ranking of the continent’s best venture capitalists, are now open through October 23. Produced in partnership with TrueBridge Capital Partners, the Midas List Europe is a data-driven list that evaluates hundreds of investors from across Europe and the Middle East’s top venture firms.

The Midas List Europe features the continent’s top 25 VCs ranked based on their portfolio results by Forbes, our partner TrueBridge and an independent judging panel of industry experts. Eligible portfolio companies must have gone public or been acquired for at least $100 million over the past five years, or have at least doubled their private valuation since initial investment to $200 million or more over the same period. Liquid exits count for more than unrealized returns, and the Midas model rewards investors who have made high conviction bets.

With decades of experience and industry data, Midas and TrueBridge can ensure that data is input correctly and confidentially; portfolio performance shared in the Midas process is not published or shared. The list and process is reviewed by a judging panel featuring three senior investment professionals who collectively manage over $120 billion of assets and allocate capital to venture funds and startups but are not themselves eligible for the list. The judging panel is anonymous to protect the list’s integrity.

Last year’s Midas List Europe saw Berlin-based Pawel Chudzinski of Point Nine Capital surge to the top of the rankings thanks to early bets on fintech Revolut, which is now reportedly raising at a $65 billion valuation. A new wave of European AI startups and a flurry of exits in the Nordics could bring an even bigger shakeup to this year’s list.

Note: Investors that submitted for the global Midas List, published each May, are encouraged to re-submit for Midas List Europe unless their portfolio activity remains unchanged.