UK tech companies attracted more venture capital investment from Silicon Valley than their European counterparts.
According to investment data released by London & Partners, over the past five years, UK technology firms received more VC investment from West Coast investors than France, Germany and Ireland combined.
The data also shows that Silicon Valley-based investors continue to pump significant sums of money into UK tech despite Brexit – with firms having raised a ‘record’ $1.13bn so far this year.
Released to mark the beginning of Silicon Valley Comes to the UK (SVC2UK), the research also highlights that London-based tech businesses received the majority of the funds from the Bay Area.
Sherry Coutu CBE, co- founder of SVC2UK and serial entrepreneur, said: “With some of best global talent and a strong culture of entrepreneurship, the UK and Silicon Valley are two of the world’s leading places to start and scale a technology business. While London has grown to become Europe’s largest tech hub, we still have a way to go to emulate the success of Silicon Valley and there is a lot we can learn from each other.”...