The UK’s venture capital (VC) market experienced a decline in the number of deals announced in 2024, with 1,209 deals compared to 1,289 in 2023. Despite this, the total funding value rose by 16.3%, reaching $16.6 billion. This shift reflects a growing trend among VC firms to prioritize high-value investments in fewer, more promising startups, according to GlobalData a leading data and analytics company.
An analysis of GlobalData’s Deals Database revealed that the UK witnessed the announcement of a total of 1,289 VC deals during 2023 while the disclosed funding value of these deals stood at $14.2 billion.
Aurojyoti Bose, Lead Analyst at GlobalData, comments: “The growth in funding value despite a decline in deal volume showcases a trend wherein VC firms seem to be weighing quality over quantity and have put in big money in few promising startups. In fact, 2024 saw a growth in the number of big-ticket deals (≥ $100 million) from 23 in 2023 to 29.”
Bose adds: “The UK, apart from being the top European market for VC funding activity, is also among the top five markets globally in terms of both deal volume and value.”
The UK accounted for 7.3% of the total number of VC deals announced globally during 2024 while its share in terms of the total funding value stood at 6.1%.
Some of the notable VC funding deals announced in the UK during 2024 included $1.05 billion worth of funding raised by Wayve Technologies, $1 billion raised by Abound, $500 million by Core Power, $431 million raised by Monzo, $370 million by Lighthouse, and $267 million worth of funding raised by Zepz.
Bose concludes: “The increase in big-ticket deals underscores strong confidence in the UK’s innovation ecosystem, reinforcing its position as a global VC hotspot. As funding strategies evolve, the market’s resilience and ability to attract large-scale investments will be key in shaping the future of venture capital in the region.”
Note: Historic data may change in case some deals get added to previous months because of a delay in disclosure of information in the public domain.
