Tech investments in Europe are reportedly in bloom after a long fallow period.

This turnaround is the subject of a report Monday (June 3) by the Financial Times (FT), which noted that deal making has picked-up at early stage companies, with venture capital (VC) groups raising new funds after a two-year drought.

For example, private tech investor Creandum, which has invested in Klarna and Spotify, has just unveiled a $544 mullion fund, the report said, following similar-sized deals from Accel Europe ($650 million) and Plural ($544 million, or 500 million euros).

Creandum’s fund came together “in record time,” general partner Carl Fritjofsson told the FT.

“There is a dramatic change in the sentiment, appetite and activity across the industry,” he said