2016 was a record year for investment in Northern tech companies.
That’s according to data compiled by Pitchbook and analysed by Tech North.
According to ‘Tech North’s Investment Index: 2007 – 2016‘ report, investment in northern tech companies reached a 10 year high in 2016.
The report found that a total of £326.9m was raised by northern tech firms in 2016, representing an increase of 1,551% from the £19.8m raised in 2007, with the most significant growth taking place over the previous three years.
Although the amount of funding raised last year was far higher, 2015 saw a higher number of deals, with 93 deals completing in comparison to the 74 tracked throughout 2016.
The biggest increase in capital invested from one year to the next was seen in 2014 when the figure increased from £23.7m in 2013, to £169.6m in 2014....