UK VC-backed startups raised a total of $834m in funding across 110 deals during Q3 2016, reversing a series of quarterly declines since Q4’15, says a new report.
According to the Venture Pulse Report Q3 2016: Global Analysis of Venture Funding report, top UK deals included Deliveroo’s $275m Series E, Darktrace’s $65m raise and Artios Pharma’s $33.2m Series C.
Most deals (59) took place in London, where funding totaled $580m. Cambridge followed with 9 deals and a total of $69.6m raised in total.
UK and Brexit
Although the report says that the implications of Brexit will have long-term ramifications on the UK and Europe, the immediate effects associated with the vote have evened out.
Despite VC investment in the UK remaining relatively lackluster throughout the third quarter of this year, there was a small uptick when compared to Q2 2016. This would suggest that although nervous about the country’s impeding Brexit, investors do not seem likely to change their investment strategies....