Skip to content
Search

Latest Stories

UK overtakes India in venture capital amid slump

UK is now the third largest destination for venture capital, behind only the US and China

UK overtakes India in venture capital amid slump

THE UK has surpassed India to claim the title of the world’s third largest venture capital market. This development comes amid a global industry downturn marked by a significant drop in both investment levels and deal numbers over the past year, reported the Times.

The British Business Bank, the UK’s state economic development agency, expressed confidence despite the slowdown, highlighting the nation’s increasing attractiveness for financing fast-growing enterprises.


In 2023, venture investment in the UK plummeted by 48 per cent to £8.8 billion, with the number of deals falling by 25 per cent to 2,152.

Factors contributing to this decline include higher interest rates, which have dampened investor enthusiasm, as well as pressure on company valuations and a shortage of viable exit opportunities for fund managers.

The UK is now the third largest destination for venture capital, behind only the US and China. According to new data from Dealroom, which tracks the industry, the country secured nearly a third of all European venture funding in the first half of this year.

Louis Taylor, CEO of the British Business Bank, remains optimistic, pointing out that the UK’s market share in global venture capital has risen in recent years. He noted, “The flow of investment has held up better here than in many other economies, reflecting a return to more sustainable investment levels post-pandemic.”

Recent data indicates a promising outlook for the UK venture capital sector, with signs of recovery and a robust influx of funding.

Following Labour’s victory in the general election, discussions between Taylor and government officials, including chancellor Rachel Reeves and business secretary Jonathan Reynolds, underscored the government’s commitment to leveraging institutions like the British Business Bank and the UK Infrastructure Bank to foster economic growth and innovation.

Taylor stressed Labour’s view that these organisations are essential for driving private sector investment in key sectors such as green technology and regional development, underlining their strategic importance in the nation’s economic agenda.

He said: “The fact that we’ve met with two secretaries of state like that shows it’s a priority for them.”

The new government also launched a new National Wealth Fund with £7.3bn of additional funding.

More For You

JLR-Getty
A logo is pictured outside a Jaguar Land Rover new car show room in Tonbridge, south east England. (Photo: Getty Images)

Jaguar Land Rover says no customer data stolen in cyber breach

JAGUAR LAND ROVER (JLR) said on Friday it is working "at pace" to resolve a cyber incident that has severely affected its retail and production activities. Factory staff have been told to stay at home until at least early next week.

The company disclosed the breach on Tuesday, the latest in a series of cyber and ransomware attacks against businesses globally. Companies such as Marks & Spencer and Co-op have also been hit by breaches in recent years.

Keep ReadingShow less
Co-op and Bestway strike new deal to back independent retailers

Dawood Pervez (L), managing director at Bestway Wholesale and Katie Secretan, managing director of Co-op Wholesale

Co-op and Bestway strike new deal to back independent retailers

A NEW partnership has been formed between Co-op Wholesale and Costcutter Supermarkets Group (CSG) to support independent retailers across the UK.

Goes beyond the standard supply deal, it aims to bring the combined expertise and resources of both businesses together, helping local retailers compete in an increasingly tough convenience market, a statement said on Thursday (4).

Keep ReadingShow less
Nirmala Sitharaman

India's finance minister Nirmala Sitharaman said the Goods and Services Tax (GST) structure would be simplified from four slabs to two, with reductions across several sectors. (Photo: Getty Images)

India cuts consumption taxes, simplifies structure into two slabs

INDIA announced a major cut in consumption taxes on Wednesday, days after the United States imposed steep tariffs on Indian goods.

India's finance minister Nirmala Sitharaman said the Goods and Services Tax (GST) structure would be simplified from four slabs to two, with reductions across several sectors. In some cases, levies have been reduced by more than half.

Keep ReadingShow less
Jio Platforms

Jio Platforms includes India’s largest telecom operator, Reliance Jio Infocomm, with more than 500 million users. (Photo: Reuters)

Reuters

Jio IPO planned for mid-2026, AI unit announced with Meta and Google

RELIANCE Industries plans to take its telecom and digital arm, Jio Platforms, public by mid-2026, chairman Mukesh Ambani said on Friday. The announcement sets a new timeline for the long-awaited IPO of a business analysts value at over $100 billion.

At its annual general meeting (AGM), Reliance also announced the launch of an artificial intelligence unit in partnership with Google and Meta.

Keep ReadingShow less
Asda tech overhaul

Asda sales fell 0.2 per cent in the three months to June 30, 2025 (AFP via Getty Images)

AFP via Getty Images

Asda boss hails tech overhaul as key to revival despite sales slump

THE chairman of Asda has admitted the supermarket chain still faces challenges after sales slipped again over the summer, but said the completion of a major IT overhaul was crucial for its recovery.

Allan Leighton told the Times that the long-delayed technology project, called Project Future, had finally been finished after years of setbacks and costs exceeding £1 billion. The work involved separating more than 2,500 systems inherited from former owner Walmart, following Asda’s 2021 takeover by TDR Capital.

Keep ReadingShow less