Firms based in the north of England have experienced a record start to this year’s first quarter attracting £315m in venture capital-type investments.
The money raised comprised 37 individual deals around the region. According to the recent Global Venture Pulse Survey conducted by accounting researchers at Anglo-Dutch multinational KPMG, the activity represented 9% of all deals in the United Kingdom by volume within Q1 of 2021, and 10% of all deals value.
Among the most substantial deals in Q1, C-Capture the chemical engineering company based in Leeds secured £11m worth of investment. Enterprises and individuals seeking investment advice in Chester, Leeds and other cities in the North of England can count on professional wealth mangers to devise well-balanced portfolios to suit their specific financial circumstances.
Head of technology for KPMG, Ben Taylor, commented on the strength and resilience of the North’s offering amidst the challenging economic climate of 2020, caused by COVID-19:
“To see it attract record levels of investment in the first quarter of 2021 off the back of its performance then is credit to the character of businesses here and shows the raw ingredients are there for future success.”
He added that although financial risks still remain, especially the worry of inflation and unavoidable withdrawal of support schemes from the government, businesses based in Northern England were likely to feel confident of growth over the months to come.
On a wider scale, the UK is currently maintaining its lead in Europe, claiming seven of the 10 biggest deals for the region.