June saw UK high growth businesses raise £893m across 110 deals
Fashtech unicorn Farfetch raised £313m alone, with backing from Chinese retailer JD.com
UK fast-growth businesses raised £893m worth of funding in June, across 110 deals – a report from Beauhurst has revealed.
Combining all publicly released funding rounds, the data reveals that the total amount of funds raised in June exceeded May by £24m – with last month representing the first time since March that deal numbers have increased, with May reporting just 96.
However, the average deal amount actually fell to £9.11m, down from £9.2m the month previous.
The most active investment body was Startups-100 listed crowdfunding platform Crowdcube, which participated in 15 investments last month, followed by fellow Startups 100 entrants Seedrs and VentureFounders who completed four deals each.
All of all businesses who successfully raised cash, 45% were at the seed stage of their development, 38% at venture-stage and 17% at growth stage.
Unsurprisingly, tech was the hottest sector for investors, with 7.3% of deals going into SaaS companies.
Far and away the biggest deal in June was Fashtech unicorn Farfetch, which raised £313m alone from Chinese retailer JD.com.
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The third-largest ever seen by Beauhurst, it took the London-based start-up’s total funds raised to £516m over eight rounds.
As part of the deal, JD.com’s founder and CEO Richard Liu was appointed to sit on Farfecth’s directors board.
Insurtech start-up Gryphon Group, which was founded in March 2016, raised £180m after being backed by Leadenhall Capital Partners and Punter Southall – representing the second biggest raise of the month.
Bicycle Therapeutics, a biotech start-up, bagged £40m on the first day of June, with help from Atlas Venture, Cambridge Innovation Capital, Longwood fund, Novartis Venture Fund, SR One, SV Life Sciences and Vertex Ventures.
This raise values the business at £35.3m pre-money, and is its fourth raise. The capital was in exchange for a 53.1% stake – with Bicyle now having raised £75.9m in total to date.
Elsewhere, NightstaRx, a biotech that treats blindness, saw through a deal worth £34.6m – with New Enterprise Associates (NEA), Redmile Group, Syncona Partners and Wellington Management among investors.
Finally, Startups 100-ranked and peer-to-peer lending platform Zopa raised £32m via Northzone Ventures and Wadhawan Global Capital Pvt Ltd – representing the fifth biggest deal of June.
The biggest deals for UK businesses in June 2017 were:
- FarFetch (£313m)
- Gryphon Group (£180m)
- Bicycle Therapeutics (£40m)
- NightstaRx (£34.6m)
- Zopa (£32m)