The Investment Activator Programme (IAP) has just released its annual report on equity investment in the South West, providing the latest insights into which companies and sectors raised the most in 2022 and the ones to keep an eye on in 2023.
A key takeaway of the report is that, despite the over £920 million raised by businesses in the South West, last year’s total investment figure was £265 million down on 2021’s figures; a reflection of the current economic climate and global downward trends, states the report. Despite a more challenging environment, 318 companies participated in 355 fundraising events in 2022 with the largest single raise an impressive £175 million being raised by Clearbank: the UK’s first new clearing bank in more than 250 years, which is headquartered in Bristol.
The report does a fantastic job of highlighting the huge disparity between men and women when it comes to investment, with 87% of all VC funding in Europe being raised by men-only teams. There are, fortunately, a number of women in the South West bucking this trend including Georgia Stewart co-founder of Tumelo who raised £15 million, and Sam Seaton CEO at Moneyhub who raised £55 million in 2022.
One of the most exciting aspects of the report is its “One’s to Watch” in 2023, a spotlight on those companies we should be keeping a close eye on in the coming year. Included are Xigxag the Cornwall based, no-subscription, audiobook app and Emm who are bringing a first of its kind, smart menstrual cup to market.
Abby Frear, Investment Activator for the IAP says, “Despite the slight downturn on the figures from last year for obvious reasons, it’s actually been an incredibly positive year for Investment into the South West at almost £1bn raised. We’re also seeing a noticeable increase in Investors from outside of the region approaching us to work out how they can get more engaged, as they see some of the huge success stories coming from this area.”
This article is written as part of the Investment Activator Programme (IAP) in the West of England. This programme is run by techSPARK and is kindly sponsored by TLT LLP, delaware, West of England Combined Authority, UWE, Sanderson, Engine Shed and Rocketmakers.
If you are an investor and you would like to receive the regular newsletter and event invitations related to investment, please find more information and sign up here.
And finally, if you are raising investment for your business and you would like to submit your one page proposition for the next Quarterly Investment Briefing event, please find more information here.