2017's a record year for Silicon Valley cash going into UK tech startups

 
Lynsey Barber
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Britain is winning Valley venture cash despite Brexit (Source: Getty)

It's already a record year when it comes to the amount of cash being invested in the UK's technology startups from Silicon Valley.

More than $1bn has been raised so far in 2017, double the amount raised in both the two years prior.

Read more: London tech startups head on Brexit trade mission to France

And UK startups have raised raised more venture capital cash from the west coast than France, Germany and Ireland combined, according to figures from London and Partners, the mayor's promotional arm, and Pitchbook.

“With some of best global talent and a strong culture of entrepreneurship, the UK and Silicon Valley are two of the world’s leading places to start and scale a technology business," said serial entrepreneur Sherry Coutu who also co-founded Silicon Valley Comes to the UK (SVC2UK).

"While London has grown to become Europe’s largest tech hub, we still have a way to go to emulate the success of Silicon Valley and there is a lot we can learn from each other.

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"It is no surprise to see that British tech firms continue to attract more venture capital investment from the Bay area than any other European country and the figures released today suggest that Brexit has not had an impact.

SVC2UK, which was also co-founded by LinkedIn's Reid Hoffman more than a decade ago to foster links between the two tech hotspots, kicks off a series of events this week.

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