1、2025UKPrivate Capital Breakdown22025 UK PRIVATE CAPITAL BREAKDOWNContentsNavina Rajan Senior Research Analyst,EMEA Private Capital Nicolas Moura,CFA,CAIA Senior Research Analyst,EMEA Private Capital DataCharlie Farber Manager,Data AnalysisOscar Allaway Data Analyst PublishingReport designed by Josie

2、 DoanPublished on 3 September 2025Click here for PitchBooks report methodologies.Introduction3Macroeconomics 4VC deals 5VC exits 9VC fundraising 12PE deals 14PE exits 18PE fundraising 21PitchBook Data,Inc.Nizar Tarhuni Executive Vice President of Research and Market IntelligencePaul Condra Global He

3、ad of Private Markets Research Nalin Patel Director of Research,EMEA Private CapitalInstitutional Research GroupAnalysis32025 UK PRIVATE CAPITAL BREAKDOWNIntroductionVenture capitalUK VC activity in early 2025 eased compared with 2024,as a weaker macroeconomic backdrop and increased market volatilit

4、y weighed on dealmaking.Early-stage valuations largely held steady,while later-stage rounds showed a more selective growth pattern.Series A-B emerged as the most resilient stage,buoyed by strong deal flow in pharma&biotech,whereas Series C-D saw a marked pullback in both deal count and share of tota

5、l value.Sector trends mirrored broader European patterns,with AI maintaining its lead in total investment despite slowing from 2024s record levels.Life sciences stood out as a rare area of growth,continuing to attract significant funding.Meanwhile,Big Data entered the top 10 sectors for the first ti

6、me,supported by AI-linked applications.Overall,the market reflects a cautious but targeted deployment of capital,with investors favouring resilience and defensible growth opportunities.UK VC exit activity in H1 2025 held steady,supported by robust M&A momentum despite market volatility.While overall