RECORD TECH FINANCING

BRITAIN’S technology sector has shaken off fears of a slump to attract record levels of investment this year.

Tech firms pulled in £9bn of venture capital funding in the first quarter, up £6.3bn in a year earlier and the largest amount since Dealroom’s data began in 2000.

So far this year, British tech firms have raised £12.4bn – more than in 2020, and behind only the US. Separate data from the accounting giant EY showed Britain also remained the most attractive destination for financial services investment last year.

Anna Anthony, managing partner at EY, said: ‘Six years since the EU referendum we can be confident that Brexit has not damaged the UK’s fundamental appeal.’