VC funding deals worth $13.2 billion announced this year

However, venture capital funding activity suffered a significant setback as there was a drop in both deal volume and value compared to the corresponding period in the previous year

A total of 1,199 venture capital funding deals of worth $13.2 billion were announced in the UK between January and November this year.

However, venture capital funding activity suffered a significant setback as there was a drop in both deal volume and value compared to the corresponding period in the previous year. In spite of the challenges, the country remains an appealing destination for venture capital investors, securing a prominent position among the top five global markets, according to GlobalData, a leading data and analytics firm.

An analysis of GlobalData’s Financial Deals Database discloses that deal volume dropped by 26.9 per cent during January-November 2023 compared to the 1,641 deals announced during January-November 2022. Meantime, the corresponding disclosed funding value registered a year-on-year (YoY) drop of 40.5 per cent compared to the $22.2 billion during January-November 2022.

Aurojyoti Bose, Lead Analyst at GlobalData, says: There was a dent in investor sentiments globally in 2023 and the UK, in line with several of its peers, also suffered setback in venture capital funding activity. Nevertheless, it did not affect the country’s attractiveness for VC investors. In spite of a decline, the UK, besides being the top European market, maintains its position among the top five global markets in both venture capital funding deal volume and value.

The UK accounted for 6.5 per cent of the total venture capital funding volume announced globally during January-November 2023. In the meantime, its share of the corresponding disclosed funding value stood at 6 per cent during the same period, Bose says.

Bose adds: The UK also managed to see the announcement of a number of VC deals valued over $100 million during January-November 2023.