The startup and investor community shouldn’t be too concerned by a year-over-year decline in funding, according to British Patient Capital’s investment managing director.
Speaking to UKTN, Ian Connatty, an investment executive at British Patient Capital, part of the state-owned British Business Bank, said that “stats are not going to rise to the sky every year”.
Tech funding in the UK took a hit last year. A report from Atomico found VC funding in the UK fell by 54% from 2022, causing the alarm bells to ring for some.
“At some point [stats] have to come down,” Connatty said. “The numbers are what they are.”
Connatty pointed out that, as the name might suggest, British Patient Capital takes a “longer-term lens” with companies often spending “10 plus years” in a portfolio....