This is the best summary I could come up with:

Venture capital data is backwards-looking, a trailing indicator at best.

TechCrunch+’s reporting on third-quarter venture capital activity is therefore a lengthy, if earnest look in the rearview mirror.

To that end, European venture capital data is down sharply from prior highs in the third quarter — more here on global numbers — but there’s enough bullish material inside the data that when we look ahead, the European venture capital and startup scene has quite a lot going for it.

Pulling from PitchBook data and a recent Dealroom report, this morning we’re looking for green shoots.

After all, by now it’s old news that venture capital totals are down around the world.

That, per the private-market business database, is off just over 49% compared to year-ago totals concerning the same timeframe.

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