Mega funding rounds for London-based tech companies also increased VC investment levels for UK tech in 2020, with British tech firms raising a record $15 billion in 2020.
Global tech VC investment was also resilient in 2020, with the data showing $272.3bn was invested into tech firms worldwide in 2020, up from $262.7bn in 2019.
London was at the heart of this growth, with its tech firms accounting for a quarter of all European tech funding. London’s tech scene is also competitive on the global stage, featuring as the second fastest growing global tech hub since 2016 and ranking 5th on the worldwide list for VC tech investment over the past five years.Ģ020 was a record year for VC funding into Europe’s tech sector, with figures from revealing European tech companies raised $43.1bn last year. The UK capital cemented its status as Europe’s leading tech hub – with London companies receiving over three times the amount of investment than any other European tech city. Future growth also looks strong, with the data showing that London based VC firms have unprecedented levels of fresh capital to deploy in 2021.ĭespite the global pandemic and the UK’s exit from the European Union, London tech firms raised $10.5bn in 2020 – significantly more than the total amount raised in 2017 ($7bn) and 2018 ($5.9bn) and close to the record in 2019 ($10.7bn). International investors continue to look to London, with the findings revealing that the UK capital received more tech VC investment than any European city in 2020. London is at the centre of Europe’s burgeoning tech scene, with new research from and London & Partners showing that London tech companies helped Europe to reach record levels of tech venture capital funding in 2020.
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