Venture Capital Firms Continue to Invest in UK Tech

london_and_partnersGlobal investment firms have committed to continue investing in the UK’s tech sector, according to the latest research from London & Partners, the Mayor of London’s promotional company.

In the first six months of 2016, British companies attracted $1.3 billion in venture capital funding, matching the $1.3 billion raised in the same period in 2015. Some of the largest deals this year include London-based transport app Citymapper ($40m), ($60m) and a $65m deal for British cybersecurity firm, Darktrace.
Venture capital firms such as Index Ventures, Octopus Ventures, Balderton Capital and Hoxton Ventures are among a wider group of firms to continue to invest in UK tech companies.

Since the Brexit vote, investment into London and UK-based technology companies has remained strong with companies attracting $200m across 42 deals.
Deals include:
– music festival booking site Festicket ($6.3 million),
– Network Locum ($7.55 million),
– London based fintech firm Revolut ($9.61 million) and
– what3words ($8.5 million).

Meanwhile, Santander announced that its London based venture capital fund has secured an additional $100m to invest in UK fintech companies.

In addition, last week, Sadiq Khan, The Mayor of London, launched the #LondonIsOpen campaign to show London is united and open for business to the world following the EU referendum.



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