UK Prime Minister Theresa May called a general election in mid-April in a bid to consolidate her power ahead of Brexit negotiations with EU leaders. This plan has backfired, with the vote on 8 June resulting in her party losing the parliamentary majority of 17 seats it already held.
May's Conservative Party will now seek to form a minority government after delivering yet more uncertainty to the markets.
However, as investors try to evaluate the outcome of the UK's election and its possible ramifications for their portfolios, it's important to point out that the VC, PE and M&A communities had already started operating in a wait-and-see mode. Some of our coverage over the last few months has explored its impact: