UK venture capital investment is heading for a record year after surging in the first half to £14.4bn, bolstering the country’s reputation as the leading European hub for AI deals.
The value of deals is on track to double over the course of the full year, which would exceed the record £26bn total from 2021, according to data from PitchBook. This year’s investments were concentrated in late-stage venture capital in the software and pharma or biotechnology sectors.
“The UK has the largest AI ecosystem in Europe, including hubs and networks of engineers,” said Navina Rajan, senior research analyst at PitchBook. “There’s more interest to invest in UK venture capital companies generally.”