The awards, which are now in their sixth year, were organised jointly by GP Bullhound, an investment bank which specialises in technology, media and telecommunications, and Vitesse Media, a multi-platform media business that specialises in growth businesses and entrepreneurs.

For the first time, the awards included nominees from continental Europe.

Manish Madhvani of GP Bullhound said: “Particularly in these turbulent and uncertain times, it is great to see how entrepreneurs and venture capitalist have not been deterred by the challenging environment, and are in fact rolling up their sleeves and getting stuck into their portfolio companies to produce world-class businesses offering market-leading products.”

Sara Williams of Vitesse Media said: “Despite the prevailing market conditions, venture capital continues to make an invaluable contribution to the UK and European economies and is establishing a strong reputation for developing world-class growth companies. These awards recognise the investors who are driving innovation and entrepreneurship.”

The complete list of award winners for 2008 was:

Venture Capital Fund of the Year: Index Ventures
Exit of the Year: MySQL
VCT/FCPI of the Year: AGF
Service Provider of the Year: Brown Rudnick
Private Investor Network of the Year: Hotbed
VC Personality of the Year:Simon Cook, DFJ Esprit
Equity Gap Fund of the Year: Hightech Gerunderfonds
Deal Envy of the Year: Adconion
Outstanding Contribution of the Year: George Coelho, Good Energies
Jon Moulton’s Triumph Over Adversity Award: Solar Integrated Technology