UK tech is in line to receive a record amount of investment in 2019, experts have revealed.
The new research report, published by venture capital fund White Star Capital, looks at the UK investment market from an international perspective, with a particular focus on non-resident investors.
According to the study, the UK is set to smash previous records with investment by UK technology companies already hitting $4.9 billion (approximately £4 billion) in the first six months of 2019.
This is compared to record figures seen in 2017, when the UK attracted around $5.8 billion (approximately £4.8 billion) in venture capital funding. It means that with just under half of 2019 to go, this year’s funding has already accounted for 85 per cent of 2017’s total funding and twice the amount of capital secured in the first six months of 2018.
The report also shows that UK tech continues to perform above our European partners, with UK venture capital funding accounting for some 63 per cent of all European deals in the first six months of 2019.
This is in large part attributed to international investors’ unwavering interest in UK tech over any other European territory. According to the data, the UK attracts the biggest and best investors, with 81 per cent of all deals worth £100 million or more taking place in the UK.
Commenting on the report, Eric Martineau-Fortin, Managing Partner of White Star Capital, commented: “In recent years, the UK has subsequently strengthened its position as a global leader in attracting VC investment and this report delivers a vote of confidence in the UK’s fast-growing businesses and the wider ecosystem during a crucial period for the nation.”
The study follows recent research which also highlighted the UK’s dominance in the venture capital market. The report, published by technology entrepreneur network Tech Nation, found that the UK leads Europe in terms of venture capital investment in technology, with some $35bn (approximately £28.9 billion) invested between 2013 and 2018.
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