Venture Capital investors have pumped more than $114 million (£90m) into Northern start-up businesses in the first six months of this year.
That is according to Venture Pulse 2018, a quarterly report on global VC trends published by KPMG Enterprise, with data from PitchBook.
A total of 47 businesses from the region saw investment from global VC investors between January and June, out of 449 deals completed across the UK.
While the first half of 2018 has been steadily busy for VC investment in the North, other parts of the UK have seen activity pick up in the second quarter after a slower start. The surge in activity has propelled the UK back to the top of the European VC market.
“It’s encouraging to see that continued uncertainty in the macropolitical and macroeconomic environment does not appear to be substantially hampering appetite for investment in UK startups, especially in the North, which has had two strong quarters in a row,” said Graham Pearce, KPMG’s head of technology in the North.