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Venture capitalists invest £1bn in UK technology companies

Venture capital investment in UK and Irish technology companies last year reached the highest levels since 2001, according to research by Ascendant.

In a break from the economic downturn IT technology firms are currently enjoying the most investment since the dotcom boom of the early 20th Century.

Ascendent, an advisor to small companies seeking to raise money has calculated that over £1bn was raised in the sector - up 15% from 2007.

Although the internet and IT are two sectors that are proving to be robust in the current economic downturn, experts have warned that these figures are slightly misleading as to the strength of the sector, as many venture capitalists are simply putting more money into current investments.

"VC firms were not going to invest in companies they were not already committed to," said Stan Boland, chief executive of Icera.

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Post Date: February 10th, 2009