A total of 1,005 venture capital (VC) funding deals worth $10.9 billion were announced during the first three quarters (Q1-Q3) of 2023 in the UK.
Both deal volume and value recorded decline during Q1-Q3 2022 compared to the same period in the previous year, according to GlobalData.
An analysis of GlobalData’s Financial Deals Database reveals that the total number of VC funding deals in the UK declined by 25.9% during Q1-Q3 2023 compared to 1,356 VC deals during Q1-Q3 2022.
Meanwhile, the corresponding deals value registered a year-on-year (YoY) decline of 43.1% compared to $19.1 billion during Q1-Q3 2022.
Aurojyoti Bose, Lead Analyst at GlobalData, comments: “The ongoing Russia-Ukraine war, inflation and other macroeconomic challenges have been having a detrimental effect on investor sentiments globally. The UK, which happens to be the top European market, is not immune to these challenges.”
The UK, apart from the being the top European market for VC funding activity, also stands among the top five countries in terms of deal volume as well as value.
It accounted for 6.6% share of the total number of VC deals announced globally during Q1-Q3 2023. Meanwhile, its share of the corresponding deal value stood at 5.9%.
Some of the notable VC deals announced in the UK during Q1-Q3 2023 include $623 million raised by Conigital, $602 million raised by Abound, $250 million secured by Builder.ai, $250 million raised by EToro, $226.5 million raised by Apollo Therapeutics, $140 million raised by Oxbotica, $136 million raised by Raylo Group and $100 million secured by ZYBER 365.