The UK's share of European venture capitalist investment dropped to 22 per cent in the fourth quarter of 2007.

The figure represents the lowest market share since the 25 per cent recorded in the second quarter of 2006. The UK high for the past 12 months was 32 per cent, gained in the first three months of the year.

Overall VC investment across Europe fell by 6.6 per cent in 2007, according to research from Library House.

But among the continent's mediatech projects, two UK companies were among the top five ventures to attract funding in the last quarter.

Chipmaker Gigle Semiconductor attracted £13m, the third highest figure for the period, while broadcast technology firm Skinkers collected £11m.