London’s technology sector has attracted more investment than any other European city since the Brexit vote, new research says.
According to the Mayor of London’s promotional agency London and Partners , the city has also seen record levels of venture capital investment since the start of 2017, with £1.1 billion investment between January and June.
Since the vote to leave the European Union (EU) in June 2016, London has received over £1.8 billion in venture capital funding across 544 deals. This is more than double the amount received by Berlin in the same time period, which saw the second highest levels of investment in Europe with £775 million in funding and 136 deals.
CEO of London and Partners, Laura Citron, 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.”
The technology sector across the UK as a whole has also seen a huge boost this year, with British technology firms receiving more investment than any other European country since the Brexit vote with £2.39 billion worth of venture capital investment recorded since June 2016 - more than Germany, France and the Netherlands combined.
Private equity investment in the sector has also grown, with London technology companies receiving £4.5 billion of investment across 34 deals in the first half of 2017.
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