The United Kingdom remains by far the leading destination for venture capital investment in Europe, with £12 billion ($15 billion) raised in 2023 so far.
Trade Secretary Kemi Badenoch said the news was a “massive vote of confidence” in Brexit Britain.
Trailing the UK in second and third place in Europe respectively, France raised $8 billion and Germany $7 billion, less than half of the UK’s figure.
The UK also retains its position as the third highest ranking country in the world for VC funding, with the USA and China ranking in first and second place respectively.
According to the latest figures from HSBC Innovation Banking and Dealroom the UK added $4.9 billion in the third quarter of the year and there is an expectation that £14 billion ($18 billion) will be raised by the UK by end of the year.
In the third quarter French start-ups raised $2.5 billion while German firms bagged $1.7 billion compared to the UK’s $4.9 billion.
Trade Secretary Semi Badenoch commented:
“We know the UK is the best place in Europe to invest, and today’s news is a massive vote of confidence that reaffirms this fact.
“The HSBC data shows that – contrary to the voices of doom and pessimism – post-Brexit Britain is leading the way in attracting investment into start-ups, growing our booming tech sector and creating jobs.
“This is one of the reasons why we’re bringing over 200 investors and CEOs to next month’s Global Investment Summit, which will take investment in UK companies to the next level and show how we are going to retain our position as a global science and tech superpower.”
The UK also retains its position as the third highest ranking country in the world for VC funding, with the USA and China ranking in first and second place respectively.
According to the report Belfast, Glasgow and Birmingham are the fastest growing metro areas in the UK in 2023.
Top segments for UK tech investment in 2023 include biotech, energy storage, and clean energy.
The Deutsch Bank told its investors ” if Britain leaves the EU, THEN INVEST!!” ( because firms will make more money!)