Investment in British tech firms to exceed £900m by year end

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Investment in British tech firms to exceed £900m by year end

Internet companies are still attracting the most interest from venture capitalists.

Venture capital technology investments in the UK are at a ten-year high, with between £900 million and £1 billion expected to be pumped into early-stage tech companies by the end of 2012.

A total of £297 million was invested in 60 British and Irish technology firms during the second quarter of 2012, bringing the amount of VC funding for the first half to £596 million, according to research by corporate finance advisory Ascendant.

This level of funding exceeds the last boom year, 2008, when £550 million was invested in tech companies in the first half, and represents over three-quarters of the total funding committed during the whole of 2011.

Ascendant said that internet, mobile and digital media companies continued to attract the most investment, raking in almost £250 million during the first half – an increase of 30 percent from the same period last year.

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