The number of venture capital investments made in the UK in the first three months of the year fell by 57%, compared with the same period in 2018.
Yet the amount of money invested in UK businesses in the first quarter stayed flat at £1.19bn, highlighting a preference among venture investors for later-stage deals.
“This is really about investors backing UK fintechs to take over the world,” said Tim Kay, director of innovative start-ups at KPMG. “There’s also the slightly negative take on it, which is that we’re seeing less early-stage deals.”
