MORE than £32 million of venture capital was invested into Scottish start-ups in the third quarter of 2019, according to KPMG’s latest Venture Pulse survey.

The figures, compiled by Pitchbook, show deal volume has dipped slightly, from 16 deals in the previous quarter, to 13, while deal value has increased, from £23.8m in the second quarter, to £32.42m in quarter three.

READ MORE: Advice hub opens doors in capital

Those to benefit include life sciences business, firms focused on agri-tech, and manufacturing business, with nine based in Edinburgh and the Borders, three in Glasgow and west central Scotland, and one in Dundee.

The biggest deal involved Edinburgh-based pharmaceutical and biotech firm MedAnnex, which raised over £11m to develop new treatments for conditions including autoimmune diseases.

UK-wide, VC investments have also risen, up 19 per cent on the previous quarter, to more than £2.4 bilion.

READ MORE: Families reunite to acquire £10m Edinburgh office block

Amy Burnett, manager in KPMG’s enterprise team, said: “VC investment in Scotland’s fast-growth businesses is as robust as ever and it appears Brexit and other uncertainties have failed to slow the appetite for supporting tech-focused industry disrupters.

"Scotland has begun to develop a reputation for collaborative tech start-up hubs and that has helped to unlock funding support from around the world.

“Looking ahead, we’re entering a period of great volatility, which will undoubtedly have some degree of impact.”