London and UK Top European Tech Investment Tables
This piece was originally generated by London & Partners. Please see their site for more information here.
Tuesday 08 January 2019 – The UK and London continue to dominate the European tech investment landscape, with latest figures revealing Britain’s tech sector attracted more venture capital investment and tech IPOs than any other European hub in 2018.
According to end of year investment data published today by London & Partners and PitchBook, London’s tech companies provided a major boost to UK investment in 2018, with the capital’s firms receiving £1.8 billion (72 per cent) of the total £2.49 billion raised by British tech firms1.
The research also shows that London-based tech businesses are benefitting from access to almost double the amount of growth capital than other European cities such as Paris, Berlin and Stockholm.
Long-term growth prospects for London’s digital economy are strong, with further analysis of the findings revealing that international investors are increasingly backing companies from some of the city’s fastest growing sectors. British companies developing innovations in areas such as Big Data, Artificial Intelligence (AI) and Blockchain have seen record levels of funding in 2018 and more investment than other European hubs.
Deputy Mayor for Business, Rajesh Agrawal, said: “These figures demonstrate that London is going from strength to strength as a global hub for technology, innovation and creativity. The fantastic success of our tech sector is rooted in our city’s openness and our diverse, international talent pool. Regardless of the outcome of Brexit, London will remain open to innovation, talent and investment from all over the world.”
Eileen Burbidge, Partner at Passion Capital added: “London is a hotspot for innovation and recognised as a leading centre in Europe for cutting edge technology development. London and the UK are creating world-class companies of scale, especially in high growth areas such as Fintech and Artificial Intelligence. This presents enormous opportunity for international investors, and today’s data suggests that London’s tech sector has a very bright future.”
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