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2024
UK Private Capital Breakdown
September 4, 2024
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UK private markets eye recovery at political turning point
Both venture capital and private equity deal activity are showing signs of recovery in the UK, according to our latest UK Private Capital Breakdown. On the VC side, large deals in the AI and fintech verticals have helped drive investment activity, while PE transactions have been buoyed by an interest-rate cut that has spurred LBO activity.
The report comes at a pivotal time for the UK. Not only did the Bank of England make its first rate cut of 25 basis points, but a new Labour government is taking the reins, promising both ambitious infrastructure investment and a potential change to how capital gains are taxed.
Though the deal pipeline remains strong, there are other headwinds. Exits have been disappointing for both VC and PE investors, and while this has not stopped the UK’s largest PE megafunds from securing commitments, VC fundraising in the country is lagging that of Europe.
Table of contents
UK private markets eye recovery at political turning point
Both venture capital and private equity deal activity are showing signs of recovery in the UK, according to our latest UK Private Capital Breakdown. On the VC side, large deals in the AI and fintech verticals have helped drive investment activity, while PE transactions have been buoyed by an interest-rate cut that has spurred LBO activity.
The report comes at a pivotal time for the UK. Not only did the Bank of England make its first rate cut of 25 basis points, but a new Labour government is taking the reins, promising both ambitious infrastructure investment and a potential change to how capital gains are taxed.
Though the deal pipeline remains strong, there are other headwinds. Exits have been disappointing for both VC and PE investors, and while this has not stopped the UK’s largest PE megafunds from securing commitments, VC fundraising in the country is lagging that of Europe.
Table of contents
| Introduction | 3 |
| Macroeconomics and politics | 4 |
| VC deals | 5 |
| VC exits | 8 |
| VC fundraising | 10 |
| PE deals | 12 |
| PE exits | 17 |
| PE fundraising | 19 |