Home Business News Tech sector attracts billions in investment

Tech sector attracts billions in investment

by LLB Editor
21st Aug 19 10:02 am

UK tech companies raked in £5.5bn in foreign investment in the first seven months of this year, research shows.

This was more than the amount invested per capita in the US tech sector in the same period, the Department of Digital, Culture, Media and Sport said.

Culture secretary Nicky Morgan said, “These fantastic figures show the confidence overseas investors have in UK tech, with investment flows from the US and Asia at an all-time high.

“We have a long-standing reputation for innovation and the statistics endorse our reputation as one of the best places in the world to start and grow a digital business.”

Increasingly, UK companies have been heading abroad to regions like to Asia to raise capital.

Aditya Mathur, founder and managing director of Singapore based venture capital fund elev8.vc said, “I’ve seen a lot more requests from UK start-ups tapping Asian markets capital financing in comparison to a year ago.

“They typically want access to the Asian market that is large and diverse, and for that they need an Asian investor to help them understand these markets, and also provide the kind of financing they’re looking for.”

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