UK venture activity quiet over summer months

According to statistics from Colbalt Corporate Finance, the summer months brought a slowdown in the number of technology fundraisings above £1m in the UK and Ireland. August was a particularly quiet month with only two transactions recorded, raising a total of £9m. By comparison, in August 2003 there were just three transactions that raised £14m. For the quarter ended September 2004 there were 23 deals raising £109m, which compares to 27 deals raising £129m for Q3 2003. Interestingly, the year to date (YTD) value of transactions as at the end of Q3 2004 is very close to the total value of transactions for all of 2003. From the data collected by Cobalt Corporate Finance, for the year ending 2003 there were 107 deals raising £392m and for YTD to Q3 2004 there have been 73 deals which have raised £371m. The average deal value so far for YTD Q3 2004 is at £5.1m against £3.6m for all of 2003.

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