Investor Interest in UK Businesses Soaring
Despite uncertainties ahead of the EU referendum, UK tech businesses generated £360m in first three months of 2016
UK technology and online businesses generated £360m across 76 transactions in this first quarter of 2016 with investors increasingly looking to back UK ventures, according to research by Kingston Smith.
The report found that institutions and professional managers of funds contributed £256m to the £360m total while online businesses,including those in bio technology (tech) and financial technology (fintech), accounted for 80% of transactions.
In spite of Brexit debates ahead of the EU referendum on June 23, the UK economy has failed to slow down and appears to be in line with 2015 – a record year for economic growth.
Jonathan Garbett, director at Kingston Smith Corporate Finance, said:
“While this is only one quarter we think that this is reflective of ever increasing investor interest and the on-going success of UK entrepreneurs in these areas. The impact of automating technology and on-line activity on every industry is a long term narrative and a phenomenal driver of growth and investor opportunity.
“This is a global phenomenon with the UK seen as a leading player.”