By and large, the top 10% of private European fundraisers in 2013 were distinguished by differentiated technology platforms and therapeutic candidates, most of which attracted U.S. investors. Of the 11 companies in Europe's top decile, six are platform companies and four are developing potentially first-in-class or best-in-class compounds. Specialty pharma Norgine B.V. is the outlier, with a portfolio of marketed products including branded generics. Tranched rounds are consolidated as of the most recent closing as noted. (A) Total amount drawn down in a tranched $184 million series E round raised in 2011, 2012 and 2013; (B) Includes $22.5 million tranche raised in 2010; (C) Includes $23.4 million tranche raised in 2011; (D) Includes $8 million from the conversion of a 2012 convertible