The number of VC deals completed in the UK has plummeted to its lowest level since 2016 as investors take a ‘wait and see’ approach to the global economic downturn and impending recession.
According to a report by professional services firm KPMG, there were just 575 venture capital deals in the third quarter this year, a level not seen since the same quarter six years ago. It’s also a notable drop from the quarter prior when investors completed 865 VC deals.
Overall deal value was also markedly down compared to the preceding quarter. KPMG’s Q3 Venture Pulse report found that $4.6bn (£4bn) of VC capital was invested in UK businesses across the quarter, down from the $9.2bn (£8bn) invested in the quarter prior and the lowest since Q3 2020....