San Marino
Europe · Pop. 34K · WithinWorldEMEAEurope incl IsraelHigh Income Countries (UN definition)EuropeSouthern EuropeSouthern Europe (incl. Turkey)San Marino
1 Overview
2 Latest quarter
San Marino's latest quarter in venture capital
Venture capital raised by San Marino-headquartered companies each quarter since 2020, split by round size, with detail on the latest complete quarter.
Latest complete quarter
Loading VC raised by San Marino-headquartered companies…
3 Enterprise value
How much San Marino’s VC-backed companies are worth
Combined enterprise value of VC-backed companies headquartered in San Marino, founded since 1990 and still operating, at the end of each year. Companies stay in the total after they list or are acquired.
4 VC investment
How much venture capital flows into San Marino
VC investment into San Marino-headquartered, VC-backed companies, broken down by round size, company location, sector and funding stage.
5 Largest rounds
Largest funding rounds in San Marino
A live treemap of $15M+ rounds from the Dealroom API. Each cell is one round into a company headquartered in San Marino, grouped by Dealroom sector.
Largest rounds in San Marino - 2024–2026
6 Location comparison
How San Marino stacks up
Compare San Marino with similarly sized ecosystems in Europe — switch between combined EV, 5-year EV growth, and a growth × size view. Expand the table for the full ranking.
Combined enterprise value of each ecosystem.
Top ecosystems in Europe ranked by combined EV. San Marino's row is highlighted (#12).
| # | Ecosystem | Combined EV | EV growth | Unicorns | VC invested | Tracked startups |
|---|---|---|---|---|---|---|
| 1 | United Kingdom | $1.2T | 4.7× | 230 | $27.3B | 21K |
| 2 | Germany | $409B | 4.2× | 99 | $8.3B | 9,034 |
| 3 | France | $404B | 5.4× | 69 | $8.3B | 9,103 |
| 4 | Netherlands | $376B | 3.3× | 48 | $3.4B | 3,957 |
| 5 | Sweden | $264B | 5.4× | 56 | $3.5B | 3,393 |
| 6 | Switzerland | $220B | 3.7× | 50 | $4.2B | 3,135 |
| 7 | Denmark | $141B | 4.3× | 24 | $1.9B | 1,749 |
| 8 | Belgium | $113B | 7.5× | 13 | $1.1B | 1,990 |
| 9 | Ireland | $107B | 4.7× | 26 | $1.2B | 1,975 |
| 10 | Spain | $105B | 4.7× | 18 | $3.3B | 4,636 |
| 11 | Finland | $80.6B | 4.0× | 14 | $2.2B | 1,810 |
| 51 | San Marino | $31.2M | — | 0 | $0 | 1 |
More data
Explore Dealroom data →Get the full San Marino ecosystem on Dealroom
Live company-by-company deal flow, full cap tables, founder pedigrees, hiring signals and revenue trajectories.