Blackfinch Ventures has successfully conducted a record-breaking VCT fundraise, which raised 91% more than the same period last year, as the company ramps up investment activity in UK technology companies.
Blackfinch focuses on early-stage UK technology companies and has made 15 investments over the period, including plastic pollution startup Kelpi and a follow-on investment in workplace safety company Tended.
Blackfinch Ventures, the venture arm of Blackfinch Group, has amassed a portfolio of over £78 million across 41 companies since its inception in 2019. The team’s strategic investments target disruptive innovations that tackle real-world challenges, showcasing a clear vision for the future shaped by UK-led technological advancement.
Their success has been supported by a burgeoning UK technology venture industry, which is now the third largest in the world.
New data from the research firm Dealroom underscores the vitality of the UK’s technology industry. In 2023, UK startups raised a remarkable $21 billion in venture capital funding, a testament to the sector’s dynamism despite the global economic disruptions of recent years.
This figure not only highlights the UK’s robust position in the tech landscape, but also its dominance over its European counterparts. In 2023, UK startups attracted more venture capital than France and Germany combined, solidifying the country’s status as a premier destination for tech investment.
“In reflecting on the UK’s remarkable journey to becoming a $1 trillion tech economy, it’s clear that regional contributions have been integral,” said Chris Elphick, Head of Venture Capital at the British Private Equity & Venture Capital Association.
“The vibrancy and diversity of the tech sector across various UK regions, including pivotal growth in areas outside of London, demonstrate the collective strength and potential of our tech landscape. We commend investors like Blackfinch Ventures for their dedication to regional development, which has been instrumental in helping the UK tech sector achieve this significant valuation.”