The Calibre One Index � a quarterly review of tech investor activity � shows that more venture capital was put to work in the European technology sector in the first quarter of 2008 than ever before. The previous high of $1.02 billion in the first quarter of 2007 was easily eclipsed by a huge total of $1.33 billion across Europe. Most significantly, the major growth was in the UK, where the grand total investment of $592m accounted for nearly half the combined European figure.
This total, reports the Electronics Leadership Council, is more than the previous three quarters combined � and compares with $130m in the last quarter of 2007.
The UK investment deal average of $11.85m was greater than the US figure of $11.59m over the same first quarter of 2008.
Harry Tee, chairman of the Electronics Leadership Council, commented: �This is very encouraging indeed and proves the point we have been making for some time: that the UK is, and can continue to be, at the forefront in innovative technologies. The UK technology sector is alive and well and is punching well above its weight.�
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