Venture capital investment in UK/Irish tech companies fell for a second successive quarter, to £178m, about 3% lower yoy and 8% down on the prior period, according to latest data from corporate finance firm, Ascendant. However, the number of deals in Q3 (to 30th September) was 13% higher yoy at 54, though 22% lower than the 69 deals in Q2.
Ascendant CEO Stuart McKnight expressed concern about the downwards drift, noting that VC investment in Internet Services and Cleantech – once the darlings of the sector – had deteriorated. However, the Software sctor is doing much better, with more invested so far this year than in the whole of 2012.
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