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The increase in cash invested in growing UK-based companies contrasted with an overall fall in financing across Europe, with the total invested down 10pc on the same period in 2009.

It means that UK venture capital represented 42pc of the funding made available across Europe so far this year, up from 24pc last year, and prompted industry observers to say that European venture capital funds and entrepreneurs were consolidating in London.

"It's early days but there's something really interesting happening," said Simon Clark, managing partner of Fidelity Growth Partners Europe, and chairman of the British Venture Capital Association's venture committee.

To read the full, original article click on this link: UK dominance of European venture capital grows - Telegraph

Author: Richard Tyler