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Capital investment in UK tech start-ups at 10 year high

Summary

Venture capital investment in UK technology companies reached a 10 year high in the first six months of 2012, cbronline.com reports.

Our Solution

Venture capital investment in UK technology companies reached a 10 year high in the first six months of 2012, cbronline.com reports. Research carried out by finance firm Ascendant, shows that around £596 million was granted to tech businesses in their early stages of development, exceeding the old record for H1 by some margin. According to ft.com, the last record boom was seen in 2008, when £550 million was committed to funding UK tech businesses in their infancy. The current figure represents three-quarters of the total from last year, with Ascendant predicting the total amount for 2012 to reach between £900 million and £1 billion. Most of the money is thought to be going into online, mobile and digital media companies, so entrepreneurs with a pocket of space in their garden office might want to study these areas on their way to striking a goldmine. In addition to the key fields, a total of 16 software companies received £44 million during H1, with Openet Telecom obtaining £14 million of this share. Assistant managing director of Ascendant, Stuart McKnight, announced that "there is a lot of money going in to companies", adding: "These numbers are much better than expected and present a very encouraging picture. £600 million has not been invested in a six-month period for more than 10 years."

Author:

Richard Towey

13th September 2012