The British Venture Capital Association has announced record results for 1998.
In its 1998 annual report on investment activity in the venture capital market, the Association reported a record 18 per cent increase in worldwide venture capital investment by UK firms. This was up to £4,919m in 1998 from £4,184m in 1997.
The number of companies invested in also increased to 1,332 from 1,272 the previous year.
This was matched by record investments in start-up and early stage venture capital. Investment in start-ups rose by 91 per cent while early stage companies was up by 75 per cent.
General investment in UK venture capital also increased by 23 per cent to £3,775 from £3,066.