UK VC Funding Deals Decline in Q1 2024 Amidst Weak Investor Sentiment

The United Kingdom witnessed a downturn in venture capital (VC) funding deal volume and value in the first quarter (Q1) of 2024 compared to the same period last year, reflecting investor caution.
VC funding in UK Q1 2024
A total of 281 VC deals worth $2.7 billion were announced during the quarter, marking a decline of 21.7 percent in deal volume and 31.2 percent in funding value, according to data from GlobalData.

Comparing with Q1 2023, where 359 VC funding deals were reported in the UK with a disclosed funding value of $4 billion, the recent figures underscore a notable decrease in both the number and value of deals.

The decline in investor confidence is evident in the average size of VC funding deals, which dropped from $11.1 million in Q1 2023 to $9.7 million in Q1 2024.

UK remains a significant player in the global VC market. It retained its position as the top European market for VC funding activity and ranked among the leading markets globally in terms of both deal volume and value in Q1 2024.

During the quarter, the UK accounted for 6.9 percent of the total number of VC deals announced worldwide and 4.8 percent of the corresponding funding value.

Several noteworthy VC funding deals were announced in the UK during Q1 2024, including $430 million raised by Monzo, $112 million raised by Exohood Labs, $110 million raised by Build A Rocket Boy, and $100 million raised by Oxford Quantum Circuits. News Desk

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