![]() ![]() Carmoola rounded out the largest of deals with a $126 million series A deal according to the data.įrom a sector perspective, business services and energy transition continued to attract significant attention from VC investors in Q1’23, while interest in consumer retail and real estate remained dry. ![]() Two-thirds of VC investment (£1.9 billion/$2.4 billion) coming into UK businesses in the opening quarter of this year flowed into London, with more than half of the deals completed (219) by businesses based in the capital.Ī $602 million raise by fintech player Abound (Consumer Finance) was the UK’s largest deal of Q1’23, followed by a $160 million raise by B2B focused fintech the Bank of London, a $149 million raise by EV automotive company One Moto, and a $140 million raise by autonomous vehicle software firm Oxbotica. Deal volumes were also muted with just 402 deals captured in the data. Total VC investment in Q1’23 is the lowest raised by UK businesses in the opening quarter of a year since 2020 and significantly down on the £8.2 billion ($10.2 billion) raised in Q1’21 and £12.3 billion ($15.2 billion) raised in Q1’22. The value of and volume of VC investment into UK businesses continued to slump in the opening quarter of 2023 as economic conditions continue make investors nervous, according to KPMG’s Venture Pulse report.Ī total of £2.9 billion ($3.6 billion) was raised by UK businesses in the opening three months of the year, according to the report using data compiled by PitchBook, continuing the significant slowdown seen in the end of 2022. ![]()
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