US investors are investing more money in UK tech companies this year than they did in all of 2020
US investors have already poured more money into UK tech companies this year than they did in all of 2020.
American venture capital firms invested £ 4.4 billion in young UK companies in the first five months of 2021, up from £ 3.5 billion a year earlier.
The funds are looking for startups that could grow into the next Apple or Google. You have invested £ 11.9 billion across Europe so far this year. In 2020, they invested £ 7.4 billion in European tech companies.
Looking ahead: The funds are looking for start-ups that could grow into the next Apple or Google
In the past year, the UK produced seven tech unicorns – companies valued at more than $ 1 billion (£ 710 million). Including the used car dealer Cazoo, the fitness dealer Gymshark and the sustainable energy supplier Octopus Energy.
Remus Brett, a partner at UK venture capital firm LocalGlobe, said the sector still has plenty of room for growth.
“I don’t see any slowdown for tech,” he said. “In many industries we are at the early stages of what we will see in terms of technological disruption. Travel and retail have already been hit hard, but there are many others who are just beginning the journey. ‘
Tech companies employ nearly three million people in the UK, with the employment rate growing more than 10 percent a year. There were 3,400 web designer vacancies in April 2021, compared to 2,094 at the same time in 2020.