Wednesday 30 January 2019 12:01 am

Software is the UK's most popular sector for angel investment, report shows

Software has retained its position as the top sector for angel investment in the UK, a new report has revealed.

Software was the best performing sector for both investment and pitches in 2018, according to an analysis of 100,000 businesses by the Angel Investment Network (AIN).

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Following close behind was food and beverage, rising from fourth to second place for investor backing in the last year and coming in third for pitch ideas.

Property also remained a safe bet, taking second and third place for pitches and investment respectively.

The report showed the UK’s reputation for tech innovation is still going strong, with fintech representing a high proportion of angel investment.

Last year London held the top spot for tech investment, pulling in almost twice as much funding as runner-up Berlin, according to data from Pitchbook and London & Partners.

But the report on angel investment also shows a discrepancy in the tech sector. While it is the fourth most popular sector for investors, it is only the ninth most common for pitches.

Read more: London raked £1.8bn in tech funding last year, almost double its next closest rival

AIN co-founder James Badgett said: “Unsurprisingly, software and technology continue as strong performing sectors.

“We think the UK’s growing reputation as a fintech hub, in particular, has helped these sectors maintain their positions.”