Despite Brexit uncertainty, UK remains top European destination for tech venture capital

Despite Brexit uncertainty London has retained its position as the top European destination for tech venture capital in 2020, with levels near the record amount of the year before, according to research by Dealroom.co and London & Partners.

Start-ups and growth companies attracted £7.7 billion worth of funding, accounting for more than a quarter of all investment into Europe and three times the level in Paris, Berlin and Stockholm, the research found.

Eileen Burbidge, partner at London VC firm Passion Capital, said activity quickly rebounded after the shock of the COVID19 pandemic in the first half.

“In the second quarter capital flows and investment pretty much stopped... all the way up and down the value chain,” she said in an interview.

“Towards the end of Q3 things started to pick up again, whether people were getting used to a new normal or having confidence in what the potential outcomes could be by that point, and activity in London picked up really quickly.”

“Entrepreneurs are continuing to pitch, I do think there’s still a lot of investment capital available,” she said.

Follow EU Today on Social media:

EUToday Correspondents

EUToday Correspondents

Our team of independent correspondents, based across Europe and beyond, are at the centre of geopolitical dynamics. We are united by our commitment to free and unbiased journalism, and our devotion to the concept of true and unfettered democracy. We take our job very seriously!

Related posts