STILL the most active venture capital market in Europe is that in the
UK, according to figures issued yesterday. While the level of investment
across Europe held stedy last year, home activity showed a 6.4%
increase.
France was the second largest market, followed by Germany. Both Spain
and the Netherlands showed reduced activity.
The UK did show a fall of 10.9% in the number of new investments to
2067, almost mirroring the general situation although increases in the
average size lifted the overall result.
''The increase in average deal size confirms that venture capitalists
prefer larger, less risky deals, such as expansion capital and
buyouts,'' said Alan Malcolm, Scottish corporate finance partner of
accountants KPMG Peat Marwick.
* FUND manager Murray Johnstone has announced an alliance with
pensions administrators Hadrian-Solway to provide low cost money
purchase schemes. A spokesman said they would compete ''head-on'' with
insured vehicles bearing high levels of commission.
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