London continues Europe’s top hub for technology contribution regardless of Brexit, with record stages of capital running in, say executives in the city.
In the middle of 2017, personal equity contribution in the capital’s tech area added upto £4.5bn, stated the Mayor of London’s agency, London & Partners.
Simultaneously, venture capital contributed £1.1bn in London’s tech businesses.
The agency stated, that sum up was more than in any other six-month cycle in the past decade.
London & Partners stated, the city’s “fundamental strengths” as a center for technology and business were consistent.
“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 [of] any other European city,” said Laura Citron, chief executive of London & Partners.
“We have everything companies need to be successful: policymakers, finance, infrastructure, world-class universities and talent.”
As per London & Partners, London’s tech zone has fascinated more venture capital contribution than any other European city since the Brexit vote, involving Dublin, Paris and Amsterdam.
It stated the city had collected £1.8bn in venture capital funding for 544 transactions in the tech zone since the UK chosen to quit the EU on 23 June 2016.
London & Partners stated , at the same time, Berlin, the next extremely famous city for venture capital tech contribution, had collected £775m for 136 transactions.
One of the companies advancement is virtual reality foundation Improbable, which saw contribution of £388m at the time of the middle of this year.
Improbable’s chief executive, Herman Narula, stated: “For a technology business looking to raise growth capital and scale, investment can come from anywhere in the world, but London is a great place to be located.”
“London provides access to the UK’s tremendous tech talent, and is also an attractive place to work for the global talent vital to growing a tech business.”