UK doubles venture capital investment in tech

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The UK saw £29.4bn venture capital this year, up 2.3x from last year's £11.5bn according to new analysis for the UK's Digital Economy Council by Dealroom and the job search engine Adzuna.

www.eenewseurope.com, Dec. 20, 2021 – 

After leaving the European Union, the UK government is keen to highlight the growth in investment in the general 'tech' industry around the country rather than just in London.

The UK saw £29.4bn venture capital this year, up 2.3x from last year's £11.5bn. Almost £9bn of this went into startups and scaleups outside London and the South East and the regions are home to nine of the 29 unicorns formed this year. The combined value of UK tech companies founded since 2000 is now £540bn, after the biggest year-on-year increase since 2013/14.

Th UK government was at pains to point out that the £29.4bn raised was double the figure raised in Germany (£14.7billion) and almost three times that raised by companies in France (£9.7 billion). UK tech investment accounted for a third of the total £89.5 billion that flowed into the European tech ecosystem this year says the analysis for the UK's Digital Economy Council by Dealroom and the job search engine Adzuna.

Nine out of the 29 unicorns created this year are outside of London including Interactive Investor in Glasgow, Vertical Aerospace in Bristol and Touchlight Genetics in Hampton. Of all the unicorns created in the UK, 35% are outside of London and 35% of futurecorns are also based outside of the capital, suggesting that the growth in tech in the regions will continue strongly in the next five years.

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