When the UK Brexit vote turned out that the majority in the country who voted preferred that they leave the European Union, many political analysts and financial institutions predicted that this would cause technology and venture capital to dry up in the capital. However, it seems like these predictions were a bit dire.
London & Partners, the company who collected the data, pointed out that London managed to draw £1.1 billion in venture capital during the first half of 2017. For the entire UK, this was £1.4 billion, the third highest on record. This is also double the amount Berlin managed to draw during the same period.
The biggest deals include a £388 million investment made by Japanese Softbank in a virtual simulation start-up, and a deal from Zopa and Monzo. Data shows that private equity investment in the technology sector is at its highest level on record. Brexit might have caused some jitters amongst investors, but it seems like it's business as usual for the City of London and the UK as a whole.
Source: The Telegraph | Image via The Next Women
3 Comments - Add comment