The value of venture capital investment in South West businesses increased almost sixfold in the third quarter of 2023, with Bristol leading in investment activity, according to the latest Venture Pulse report from Big Four accounting firm KPMG.

A total of £663m was raised by the region’s businesses from July to September, up 482 per cent from the £114m raised in Q2, according to the report compiled by PitchBook.

Despite the significant surge in value of venture capital investment in the region, the volume of transactions dipped by more than a quarter compared to Q2, from 31 to 23.

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