A total of £202.5m was invested during Q3 2017 across the North of England. In addition, the largest number of individual deals also took place, with a total of 40 individual transactions. These are the highest levels of tech investment in the region since records by Pitchbook and Beauhurst began in 2007, and results continue to dampen fears of investment shortfall in the wake of Brexit.
This was an extremely busy period for Northern tech, and suggests the mood is positive despite the various market challenges in this youthful sector. August in particular saw a hive of activity. The period was also the first to see a significant amount of public money invested from the Northern Powerhouse Investment Fund (NPIF), which has further bolstered the capital available for growing digital tech businesses across the region. James Bedford summarises:
“The rapid growth of the tech sector is reflected by the continued growth in investment. Encouragingly there is an increase in both the amount invested and the number of investments. I believe the impact of the Northern Powerhouse Funds is beginning to show…”