Tag Archives: venture capital

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Green shoots of recovery for UK tech jobs market

The UK technology labour market is showing the green shoots of recovery after a torrid 12 months which saw the number of job vacancies plummet, a new report says.

Vacancies in the IT sector plunged more than 40 per cent in 2023 compared to the previous 12 months, as employers across the country tightened their belts amid uncertain economic conditions and rising interest rates during late 2021 and 2022 as the pandemic ended, the analysis shows.

However, in the first three months of 2024 there were 18,551 IT vacancies, a rise of nearly 16 per cent compared with the last three months of 2023 and 1.4 per cent up on the monthly average in 2023, when the market was significantly stronger.

The report on UK tech employment trends in the first quarter of 2024 has been published by Manchester-headquartered recruitment marketplace Hiring Hub. It is based on research by Vacancysoft, a provider of labour market data and analytics.

Information used to compile the report was gathered from the career centres of company websites and relates to unique job postings only, not duplicated ones.

Hiring Hub founder Simon Swan said: “Last year’s job market slowdown, which saw over a 40 per cent reduction in IT and tech jobs from the peak of 2022, clearly left its scars.

“But there is good news to share: the green shoots of a mild recovery were visible in the first quarter of 2024, leaving me cautiously optimistic about the next few months as employers are clearly adapting to higher interest rates, tighter financial conditions and seismic technological shifts catalysed by AI.

“We definitely felt this temperature change at Hiring Hub, with March 2024 the best month for job uploads on our recruiter marketplace this year. While there’s still a degree of uncertainty around the economy causing obvious headwinds, the jobs outlook is gently improving and the sentiment should be one of cautious optimism after a tough second half of 2023.”

He added: “Driving the rebound in IT jobs is a thawing of venture capital investment, as funders that were sat on the sidelines last year with dry powder to deploy seek high-quality start-ups and scale-ups whose growth they can fuel – jobs typically coming a few months downstream of each deal.”

London, which was particularly hard hit in 2023 as IT jobs there plummeted by more than 50 per cent, is the main beneficiary of increased VC activity, says the report. The capital and the south east combined accounted for more than 52 per cent of all IT and tech roles between January and March this year.

Nationally, there were more than 6,000 tech vacancies in February and March and only just less than that in January. March was the strongest month since August 2023.

The technology, media and telecoms sector accounted for 48 per cent of IT vacancies in the first three months of this year, followed by financial services on 22.7 per cent and consumer goods and services on 8.5 per cent.

The report says the trend of more jobs specialising in data has continued into 2024, as businesses look to integrate and exploit the opportunities which AI presents. This has meant the importance of data is more prevalent, leading to more jobs in this niche area.

Skills in greatest demand are IT development and engineering, IT management, infrastructure and support.

James Chaplin, chief executive of Vacancysoft, said: “After the downturn in 2023, the signs are positive. As economic conditions pick up, so the IT jobs market has been taking shape, with London in particular being the biggest beneficiary.

“A big part of the uplift can be attributed to the pick-up in VC funding. If VC and private equity funding are indicative of where the market is going next, we believe that technology firms specialising in climate and ecology will lead the way. Funding into these businesses is now at record levels.”

Hiring Hub, which is backed by Manchester-based private equity house investor MonacoSol, connects employers with recruitment agencies to help them find quality candidates quickly.

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Perceptual Robotics announces first close round of funding with investment from Brookstreet Equity Partners LLP

Perceptual Robotics has announced the first close of the newest funding round led by investment from Brookstreet Equity Partners LLP (“Brookstreet”).

An investment group focused on supporting companies, which experience transformational growth, London-based Brookstreet will support Perceptual Robotics in the first quarter of 2023 to expand its products and explore new markets, including America.

Perceptual Robotics, which has bases in the UK and Europe, is already backed by international investors such as TSP Ventures, Future Fund, Humble Holdings and Metavallon VC.

Kostas Karachalios, CEO and Founder of Perceptual Robotics, said: “We are delighted to have raised our first close of the round and to bring along Brookstreet. Their invaluable experience with companies in the robotics space, as well as international transactions, will enhance our transatlantic exposure whilst we push to expand in new geographies and expand our product offerings.

“We are looking forward to getting Brookstreet’s support in this new phase of growth for Perceptual Robotics, fuelled by being the number one self service provider for the technology of the inspection of wind turbines.”

By utilising drones and AI, Perceptual Robotics offers a vital solution designed to undertake autonomous in-depth turbine inspections four times faster than traditional solutions, collecting high-quality data, and quickly analysing it with state-of-the-art AI data processing.

Perceptual Robotics’ Dhalion solution increases safety during inspections, as well as increasing cost-effectiveness and dramatically reducing turbine downtime for wind farm operators.

While the company’s headquarters is in Bristol, UK, Perceptual Robotics’s European base is in Athens, Greece, and last year it opened operations in both Spain and France.

Founded by M&A, McKinsey and CEO veterans, Brookstreet brings established scale-up practices in asymmetric markets, offering differentiated strategies focused on providing commercial capital and hands-on support in driving strategy and its execution.

With a global network and platform, which outreaches USA, UK, Continental Europe, Middle East and Asia, Brookstreet is recognised as a ‘DraxFuture40 Investor’.

The company is a thematic investor in innovations across the 4th Industrial Revolution (4IR), Green and ESG technologies with wider impact such as Nanotech, Internet of Things, Artificial Intelligence, Robotics and Cybersecurity. To date, Brookstreet has completed 23 transactions across its portfolio of assets.

Omiros D. Sarikas, (Managing Partner) CEO of Brookstreet, said: “We welcome Perceptual Robotics to the Brookstreet family and look forward to working with Founders, Management and Co-Investors to fast track their Scale Up journey. In the era of Digital Transformation and Green Transition, Perceptual Robotics blends Artificial Intelligence and Autonomous Technologies for the benefit of Renewable Energy Sources, which fuel our Circular Economy.”

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VDK Capital and Delio to offer a new digital investment platform for expanding access to niche private markets investments.

VDK Capital, which has been building a diversified, global ecosystem connecting it to purpose-driven investments, today announced its partnership with Delio, a fintech specializing in helping qualified investors to connect with alternative investment opportunities — quickly, transparently and compliantly. The partnership will deliver a new digital investment platform to further democratize access to niche private markets investments.

 

Private markets are evolving and VDK Capital’s unique platform facilitates access, analysis and execution of niche private-market transactions for any qualified investor. Now, private banks, family offices, pension funds and independent ultra-high net individuals will have streamlined access to private investments. Our ecosystem, with its varying needs, can rely on VDK Capital’s experience and tailored solutions to access disruptive investments. Delio’s highly configurable technology and financial solutions expertise will enable the partnership to create an end-to-end digital infrastructure for private markets.

 

Vasileios Karatzenis, chief executive officer and founder of VDK Capital, comments: “We are delighted to be working in partnership with the team at Delio. We anticipate this first step will lead to a highly successful and long-term relationship. Delio’s cutting-edge technology will power the expansion of VDK Capital’s private markets strategy and deliver a smooth, efficient and fully digitised experience for our ecosystem.”

 

Most financial institutions still connect clients with alternative assets through inefficient distribution models and manual processes, while trying to navigate the challenges of siloed data and strict regulatory frameworks. With private companies needing better access to capital and investors increasingly seeking opportunities to make a difference with their investment choices, there is a clear benefit of using technology to make it easier for financial institutions to match Founders and niche VC Funds with capital opportunities from a wider range of investors. Data-driven strategies based on client insight and investor matching are also much more likely to yield successful results than trying to identify suitable investment opportunities based purely on “gut feeling.”

 

Gareth Lewis, chief executive of Delio, said: “Our mission is to help financial institutions unlock private markets for their clients at both an individual and institutional level. We’re delighted to be working with Vas and the team at VDK Capital. Their desire to connect investors with companies making a positive contribution to the world is clearly aligned with our values and I look forward to seeing how their Delio-powered platform will accelerate their efforts in this space.”

News

AML create bold campaign for the venture capital firm that does things differently

Launched in 2018 by Jasper Smith whose previous ventures include Play Jam, Playstack and Hutch – VALA is a new breed of venture capital firm on a mission to back, build and embolden start-ups with the potential to impact on markets and on society.

The Venture Builders – a brand idea and creative campaign created by AML Group has been designed to launch two key VALA portfolios: Sustainable Growth EIS and New British Ventures EIS – targeting Advisers and High Net Worth Individuals (HNWI).

Featuring ‘early stage’ business imagery captured in a series of building blocks with a vibrant colour palette and punchy copy – the initial four executions will feature online and in a variety of print titles including the FT, Times, Telegraph, and specialist financial and adviser trade titles.

“This is a hugely exciting creative opportunity for a bold and entrepreneurial venture capital firm who want to stand out and punch above their weight.” says Hugo Bone, Executive Creative Director at AML “We have taken a complex sector and devised a big, yet simple creative idea with unlimited application and potential.”

The campaign will run for the next six months with media planned and bought through Ptarmigan media and social activity through J2.

Commenting on the campaign and brand idea Elizabeth Netti, Head of Marketing at Vala Capital says: “AML have managed to encapsulate our personality and entrepreneurial spirit beautifully in this new campaign. They have created a simple idea that clearly articulates the Vala DNA both visually and tonally as well as emphasising our point of difference in the market.”