A total of 808 venture capital (VC) funding deals “worth $8 billion were announced in the UK during January to July 2023,” according to a recent update shared by GlobalData.
Both VC funding deals volume and value “witnessed considerable year-on-year (YoY) decline of 28.4% and 54.3%, respectively,” reveals GlobalData, a data and analytics company.
According to the analysis of GlobalData’s Financial Deals Database, 1,128 VC funding deals were “announced in the UK during January to July 2022 while the disclosed funding value of these deals stood at $17.6 billion.”
Aurojyoti Bose, Lead Analyst at GlobalData, comments:
“Macroeconomic challenges and looming recession fears are taking toll on the VC funding activity in the UK. The decline being more prominent in terms of value also reflects the prevailing investor sentiments.”
Despite the decline, the UK continued “to be the top European market for VC funding activity during January-July 2023 and also remains among the top five global markets in terms of both deals volume and value.”
The UK accounted for 6.4% of the total number of VC funding deals “announced globally during January-July 2023. Meanwhile, its share of the corresponding disclosed funding value stood at 5.7%.”
Some of the notable VC funding deals “announced in the UK during January-July 2023 include $602 million raised by Abound, $250 million secured by Builder.ai, $250 million raised by EToro, and $100 million secured by ZYBER 365.”
As clarified in the update, historic data may “change in case some deals get added to previous months because of a delay in disclosure of information in the public domain.”
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