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Laxman Pai, Opalesque Asia: Europe's position in the venture capital (VC) world was maintained in Q2 2019 as the strength of Europe's VC market continued to be defined by the growing diversity of its innovation hubs. Q2 2019 European VC-backed companies raised $8.7bn across 825 deals.
This growth activity is likely helping to spur VC investment in Europe for some time to come, says a KPMG report.
According to the report, amid the uncertainties of the UK political landscape, the technology sector has shown more resilience than other areas of the economy.
During Q2 2019, the UK saw several large deals, including raises fintech companies Checkout.com ($230m), and Monzo ($144m), said the report titled 'Venture Pulse Q2 2019'.
In Q2 2019, the UK made strides towards implementing its AI Strategy, supporting the development of machine learning degree programs and research institutes.
The Centre for Data Ethics and Innovation also began consultations on the establishment of data trusts to support the use of AI.
Despite these initiatives, one forward-looking concern in the UK relates to the extended Brexit uncertainty's long-term impact on the ability to attract talent to the country.
Ireland sees investment as companies seek to manage Brexit
Ireland continued to attract attention from companies looking to invest in Europe while managing Brexit uncertainty, KPMG said.
During Q2 2019, mobile and cloud company Deem announced a new...................... To view our full article Click here
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