Survey size
Key takeaways
Seed investment up as investor focus shifts
Seed investments represented 29% of total term sheets analysed, up from 24% in 2022, as investors shifted their focus to earlier stages with many late-stage companies struggling with recaps and down rounds.
CleanTech, Health Tech and AI surge
2023 saw increased CleanTech and AI activity, which represented approximately 20% of term sheets surveyed, and sustained interest in Health Tech. We expect these sectors to remain attractive in 2024.
Cross-border interest in later-stage UK companies
While most Seed (67%) and Series A (57%) investment into UK companies came from local investors, more than half of Series B and C+ investment came from abroad as investor seek stable opportunities.
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