In Q3, reported Northern tech investment reached £208m, doubling that of Q2, and putting Q3 among the largest quarters in recent years and bringing the total amount invested in calendar year 2018 to £476m. Q3 also saw the highest number of investments in a single quarter over the past 12 months.

Excluding outlier investments, Software companies once more gained the highest share of total investment, raising £30.4m during the quarter. Businesses in the Internet and Media sector closely followed, raising £29.2m.  

Overseas investment in Q3 was considerable, with a number of recent investments highlighting the growing interest in the North from tech enterprises and financial investors across the US, Europe and Asia. Locally, the Northern Powerhouse Investment Fund made six Q3 investments totalling £4.5m, including three in Yorkshire, two in the North West and one in the North East.

On the M&A front, there were 26 completed acquisitions in Q3 2017, a 79% increase on Q3 2016, suggesting continued confidence in the Northern tech sector as the impact of the Brexit vote continues to ripple through the marketplace.

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