Fast-growth businesses in Bristol secured £63m of venture capital (VC) investment in the second quarter of the year - up two-thirds on the first quarter (£38m), new research finds.
The figures from accountancy giant KPMG show that while deal volume was down from 15 investments during the first three months of the year to 10, the aggregate value was significantly up.
Among the main drivers of the rise were fintech venture Super Payments raising £24.6m for launch and Tumelo, another fintech specialist, raising £15.5m in a funding round to support the company’s international expansion. During the same period in 2021, the aggregate value of VC investment in Bristol-based businesses was £69.6m from eight investments.
