UK Tops Charts For European Venture Capital Funding

Advertisment

The United Kingdom was able to regain its title as the top spot in Europe for venture capital investment during the second quarter of the year.

During the second quarter, a total of £1.55 billion of venture capital money was invested into businesses in the United Kingdom. It spanned across 244 deals with fintech, artificial intelligence, biotech, and cybersecurity considered as the most popular sectors for investment.

The data provided by KPMG showed that the United Kingdom accounted for 60 percent of the top ten deals done in the region during the last three months, including rounds for Freeline Therapeutics, Revolut, Liberis, CMR Surgical, Crescendo Biologics, and Culture Trip.

Additionally, companies that are based in London attracted the most capital of anywhere in Europe, with the most recent quarter able to break the record for the third-highest quarterly sum of venture money that is being invested into the city to date. The figures are compared to a total of only more than £1.1 billion being invested into the United Kingdom during the first quarter of the year.

The head of the innovative startup practice of KPMG, Patrick Imbach, stated: “The continued uncertainty in the macropolitical and macroeconomic environment does not appear to be substantially hampering appetite for investment in UK startups.”

He added: “Hot on the heels of a blockbuster 2017, the UK is still seeing very healthy sums of venture capital invested as investors continue to feel under pressure to deploy funds, which in turn is driving a higher investment volume and higher valuations.”

A recent research that was conducted by PwC also revealed that London is the number one European exchange during the second quarter, where proceeds from public listings increased by 25 percent from the same period during the previous year.

The technology sector accounted for 40 percent of all that money that was raised in the United Kingdom via public listings in that time, as Avast took the crown for the largest tech initial public offering of London to date.