European venture capital (VC) funds raised a record amount of money in the first half of 2016, but the amount of capital being invested in technology start-ups in the region has plummeted, with deals in the U.K. and Ireland hitting a five-year low amid uncertainty surrounding Brexit, new data on Thursday showed.

Investors in Europe raised 6.6 billion euros ($7.28 billion) across 34 VC-focused funds, a 63 percent year-on-year increase, and the highest amount in a six month period on record, according to Pitchbook, a data and research firm that looks at the VC and private equity markets.

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