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UK tech investment at highest level since 2001

Just over £1 billion of venture capital was invested in UK and Irish tech firms last year

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Venture capital investment in UK and Irish technology companies is at its highest level in a decade, according to the latest data from corporate finance firm Ascendant.

Just over £1 billion of venture capital was invested in 2012, which is the most money spent since the £1.9 billion invested in 2001.

The figure is some 28 percent more than what was invested in 2011, and last year also saw the number of deals over £500,000 increase by 20 percent from 193 to 232. 

The internet and wireless sector received the most investment, with some £456 million, which was followed by ‘clean tech’ (£280 million) and software (£106 million).

In recent months the coalition government has placed a heavy emphasis on the technology sector, which it believes will provide stable growth and jobs for the future. Much of this has focused on investments in London’s start-up scene in the east end, which has been dubbed ‘Tech City’.

At the end of last month seven start-ups, focusing on a range of cloud, security and analytics technologies, were selected to take part in the Accenture-led FinTech Innovation Lab London project.

The firms will occupy a Canary Wharf start-up accelerator called Level 39 and will receive senior level mentoring from financial services, venture capital and angel investment firms.



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Krowdthink said: 106m for software investmentsthats dispiritingI guess thats because SW tends to encompass ideas and ideas dont get funded in the UK No wonder the worlds largest sw companies are all in the USA



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