According to Workthere’s latest research report, Venture Capital funding in the UK reached a record high of £4.3 billion in H119, which is a 45% increase on the same period in 2018.
The report shows that the average deal size for UK VC investment doubled to £5.9 million in the first half of the year with 724 deals recorded compared to 1,147 in H118. In terms of where this money has been directed, tech has been the clear winner attracting 60% of all VC funding in H119, compared to 44% in the same period in 2018.
Jessica Alderson, global research analyst at Workthere, says: “Last year it was all about healthcare, but this year tech is the most popular sector for VC investors. In particular, the sub-sector that is really driving growth is Fintech, which has accounted for eight out of the top ten funding deals so far this year, compared to just three last year. Moving forward, this is definitely an interesting sub-sector to watch in terms of expansion outside of their primary London offices into wider UK markets.”