LONDON – The tech community in the UK have raised a number of concerns about what will happen when the country leaves the EU. They have fears around being able to hire talent and data storage laws. However, Wired summed reported that London could still remain the VC Capital of Europe, even after Brexit.
London will remain the VC capital of Europe. According to KPMG, more than twice as much venture capital was deployed in the UK as in Germany in the third quarter of 2018. London remains the obvious location for international funds seeking a European HQ, as SoftBank’s presence in the UK testifies. Since the referendum, top Silicon Valley funds have led large investments in globally ambitious UK companies, from Sequoia’s $50m funding of Graphcore to Greylock’s investment in my own firm, Entrepreneur First. The British Business Bank – Britain’s state-owned bank tasked with providing credit for small and medium businesses – is flush with new cash, and has picked up much of the slack left by the European Investment Fund.
Check It Out: London Could Remain Europe’s VC Capital After Brexit