Recent figures indicate that investors based in the United States have invested more money in the UK’s tech firms so far this year than in the entirety of 2020.
Fledgling tech firms based here in the United Kingdom have seen US venture capital firms invest £4.4 billion in 2021’s first five months. This represents a significant amount of investment in comparison to 2020, which recorded a total of £3.5bn for the year.
The American funds are currently hunting for potential tech start-ups with the potential to expand and become the next Google or Apple. So far, 2021 has seen them invest around £11.9 billion throughout Europe in the technology sector. In 2020, the UK made financial headlines by producing seven tech “unicorns”, a term sued to define enterprises with a valuation exceeding $1 billion. The companies included sustainable energy provider Octopus Energy, used-car specialist Cazoo and Gymshark, the fitness retailer.
Whether they are interested in investing in technology firms or sustainable stocks, UK consumers can obtain unbiased investment advice in Chester, London and other major cities from professional wealth management firms.
Experts believe that the technology industry has a great deal of room for expansion and is still in the early stages of achieving its potential. Amidst the pandemic, many firms and services have hastened their digital transformation, increasing demand for new technology that can mitigate disruptions.
Here in the UK, tech firms currently employ almost three million people, with employment levels increasing at a rate of more than 10 percent each year.