According to research conducted by Dealroom for marketing and promotional agency London & Partners, London tech firms have succeeded in raising $10.5bn (£7.59bn) in venture capital investment in 2020 despite the global COVID-19 pandemic and Brexit. The strong investment performance has set a new record for the UK and European technology sector.
London firms, in particular, have raised three times more funding than Paris, Berlin, Stockholm or any other European city last year. It has also already recorded new venture capital firms that are available to deploy in 2021.
“London is the global tech capital of Europe,” said Sadiq Khan, mayor of London. “Despite the challenges brought about by Brexit and the coronavirus pandemic, London’s tech sector continued to thrive in 2020 and has an important role to play in the city’s economic recovery.
“London is already home to some of the world’s best technology companies and will remain open to international investment and tech talent from all over the world.”