The latest Venture Bulletin for Q2 2026 tells two very different stories at either end of the growth-stage funding market: a struggling Series A and a booming Series B. Series A deal volumes fell 7.8% quarter-on-quarter to 107 deals, down from 116 in Q1, and 23% lower year-on-year against Q2 2025. Capital deployed slipped to £507m, a fall of £142m against the same quarter last year. Average deal size held flat at £4.7m. But dig into the detail and the picture is more concerni

A new white paper from VenturePath and Sheffield Haworth sets out one of the most significant - and underappreciated — risks facing UK scaleups in 2026: the absence of a strategic CFO at the moment it matters most. The headline finding is stark. 67% of future scaleups have no CFO in place. In a venture market that has fundamentally reset around capital efficiency and operating discipline, that gap is no longer a back-office oversight. It is a visible signal to investors — and

The latest VenturePath Venture Bulletin for Q1 2026 points to a tentative recovery in UK venture activity at Series A level - though the picture at Series B gives pause for thought. After a subdued Q4 2025, Series A deal volumes crept back up, rising 17.2% quarter-on-quarter to 116 deals, and modestly ahead of Q1 2025's 94 deals. Capital deployed edged up to £546.5m. On the surface, this is a welcome stabilisation for UK scaleups navigating a challenging funding environment.

In the UK, we have become experts at the ‘start’. With four of the world’s top ten universities and the third-largest venture capital market globally, our ability to mint new companies is undisputed. However, the recently published UK ScaleUp Investment Report - which combines venture data from Sifted with extensive founder and VC surveys - highlights a sobering reality: we are still struggling with the ‘scale’. The data shows that the bottleneck at the Series A stage is tig

Following the launch of The UK ScaleUp Investment Report, it is clear that while £17 billion was invested in innovative UK companies in 2025, accessing capital is still one of the biggest barriers faced by scaleups. For founders preparing to navigate the investment landscape in 2026, the report highlights several specific realities. Below we recap the key implications for founders raising this year. 1. The "ScaleUp Gap" is a precision task While around 6,000 companies raised

Last week, we launched The UK ScaleUp Investment Report at the inaugural UK ScaleUp Investment Summit. This report comes at a time when the UK has an unprecedented opportunity to build world-leading businesses, yet faces significant "disconnects" in the funding landscape. As catalysts of the UK ScaleUp Investment Mission, we have participated in over 75 Government meetings to help determine opportunities to improve the investment landscape. This report is the culmination of

The latest VenturePath Venture Bulletin for Q4 2025 highlights a significant shift in the UK's investment landscape. While the middle of the year saw robust activity, the final quarter was defined by a notable "cooling" in Series A funding rounds between £2m and £10m. According to our latest data, Series A deal volumes fell sharply by 29.3% compared to the previous quarter, with 99 deals recorded in Q4 against 140 in Q3. Total capital invested also retreated by 19.8%. Interes

In their Autumn 2025 Budget, the government has confirmed a set of reforms that impact the UK’s early-stage start-up and scale-up ecosystem. These touch a range of topics relevant to the community. In order of importance: 1. Reduced VCT tax relief (30%  20%) 2. Increased EIS-eligible capital raising limits 3. Increased EIS-eligible company size limits 4. Expanded EMI limits 5. Unchanged SEIS Below is a founder-friendly breakdown of the changes and how it

Earlier this week, the House of Lords Science and Technology Committee published its report, “Bleeding to death: the science and technology growth emergency.” The report marks an important moment for the UK ScaleUp Investment Mission, led by VenturePath. Many of the recommendations first set out in VenturePath’s 2024 Open Letter to Government, and reinforced through over 60 subsequent meetings - including a House of Lords evidence session - have been reflected in this publica

The latest VenturePath Venture Bulletin reveals a cooling in UK Series A activity, with both deal value and average round size slipping in Q3. According to our analysis, Series A deal volumes fell around 9% quarter-on-quarter, while the total amount invested dropped by roughly 15% - equating to £91m less capital deployed into scaling UK companies. The average deal size hit £4.44m, the lowest point this year. Year-to-date, the picture is flatter: total Series A investment stan

The Autumn Budget is almost upon us. Chancellor Rachel Reeves will deliver it on 26 November, and businesses are keen to understand what might be on the table. To help make sense of the potential implications, Rashesh Joshi from Alexander Rosse has explored what could be addressed in the Budget and highlighted the areas most relevant for businesses. Read Rashesh’s insights below. Extract from Alexander Rosse: Autumn Budget 2025 - What Might Be Coming for Businesses? “We will

If you're building a tech company outside London, you already know the challenges. Whilst the UK's £1.2 trillion tech ecosystem continues...

New data reveals the stark reality facing UK scaleups as access to growth capital continues to contract The latest VenturePath Venture...

In September '24, VenturePath had the privilege of hosting a roundtable discussion for The UK ScaleUp Investment Mission, joined by Lord...