The UK’s technology sector is continuing to attract record levels of venture capital funding, with companies raising more than $3.6 billion in 2015, according to figures compiled by London & Partners, the Mayor of London’s promotional company.
The investment represents an increase of over 70% on the record amount raised in 2014 ($2.1bn). London-based tech companies raised a record $2.28bn during the period, representing a 69% increase on the $1.3bn raised in 2014.
Analysis of venture capital (VC) investment by London & Partners shows that since 2010 UK technology companies have collectively raised almost $10bn, with London-based firms accounting for more than half of the total. During 2015 the investment secured by London-based tech firms accounted for 63% of total VC investment raised by UK tech firms.
The Mayor of London Boris Johnson MP said: “With a flourishing tech scene and one of the world’s leading financial centres, it is no surprise to see that London’s tech companies are attracting record levels of investment. Our world-class talent pool and our culture of innovation and entrepreneurial spirit are helping the sector to grow from strength to strength. We can expect the capital’s tech sector to continue to generate jobs and growth for the city’s economy for many years to come.”
Eileen Burbidge, Partner at Passion Capital and Mayor of London tech ambassador said: “Today’s record investment figures offer further proof that the UK’s tech sector continues to mature. Investors are increasingly attracted by the diversity of London’s tech ecosystem but also our strengths in certain sectors such as FinTech. With more investment coming in from overseas and greater access to London-based growth funds, there has arguably never been a greater time to start and grow a digital business in London.”
