The UK technology sector is set to receive a record amount of funding in 2019, according to the latest research.
The report, which has been 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 break investment records, with funding by UK tech firms reaching £4 billion in the first half of 2019.
The previous record was in 2017 when the UK saw £4.8 billion in venture capital funding in the whole of the year. This means that with just under half of the year left, this year’s funding has already accounted for 85 per cent of 2017’s total, and is twice the amount that was received in the first half 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.
Eric Martineau-Fortin, Managing Partner of White Star Capital, said: “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 £28.9 billion invested in the last five years (2013 – 2019).