06 July 2017
Last year’s referendum decision to leave the EU has not deterred foreign investment in UK tech companies, according to a new study from London & Partners, London’s promotional agency.
Since the Brexit vote, British tech companies have received more venture capital (VC) investment than any other country in Europe, according to a new report from London & Partners, the Mayor of London’s promotional agency, with record levels of investment in the first half 2017 helping London maintain its position as Europe’s leading technology hub for global investors. London tech has attracted more investment than ever in the past six months
The report said London’s technology sector attracted the lion’s share (£1.1 billion) of the £1.3 billion-plus pumped into UK tech companies over the first six months of the year – more than in any other half-year period over the past decade. Laura Citron, chief executive of London & Partners, said, “London remains Europe’s leading hub for global investors. The Brexit vote has understandably created some uncertainty but it is no surprise to see that London continues to attract more than double the amount of investment than any other European city.
“The fundamental strengths of London as a centre for technology and business have not changed and we have everything companies need to be successful: policy makers, finance, infrastructure, world-class universities and talent. This year’s record investment levels show that London’s tech sector continues to thrive and remains open to investment from all over the world.”