*NEW RESEARCH*: Tech funding reaches record level

The total value of venture capital investment in UK and Irish tech companies reached a record level of £669m in Q2, up 8% over the previous quarter and more than double the same period in 2014. London based companies received the highest level of investment with 72 companies attracting 66% of the funds in the quarter, according to latest data from corporate finance firm, Ascendant.

A total of 29 UK/Irish software companies raised £83m in VC funding last quarter, 53% higher by number and 77% by value yoy. However, this was dwarfed by investment in the Internet Services sector in which 56 companies received total funding of £459m. In total, £669m was invested in 117 deals over £500k in UK/Irish tech companies, 110% higher by value and 41% higher by volume compared to Q2 2014. Ascendant CEO, Stuart McKnight, expects total funding for the year to come in at around £2.2bn, more than 50% higher than in 2014. 

Subscribers to TechMarketView's Foundation Service can read our full analysis with details of the deals in our latest IndustryViews report, IndustryViews Venture Capital Q2 2015, which is available for download from today here. 

If you don't yet subscribe to the Foundation Service and you'd like details of our Subscription Packages please email Deb Seth in our Client Services team.

Posted by HotViews Editor at '08:00' - Tagged: funding   vcpe