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Britain’s Tech Sector Attracted More European Investment Despite Brexit

Despite Brexit uncertainties reigning British markets for a while, European investment in tech firms based in the UK touched a record high in 2018. Britain’s tech sector received funds from Europe to the tune of £1.89bn, higher than the £1.66bn investment received in 2017.

New research published by Penningtons Manches, a law firm, also reveals that 70% of this investment went to firms based in London, Oxford and Cambridge. Confidence in the tech sector appears to stay strong despite Brexit as nearly 80% of the deals went into forging new relationships.

The total number of deals in the tech industry rose from 149 in 2017 to only 150 in 2018, but the overall value of deals went up by 14%.

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Arslan Butt
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Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
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