American investors have feasted on British technology businesses in record numbers, helped by the weak pound and a lack of funding for later-stage companies.
Tech companies received $4.4bn (£3.4bn) from US venture capital funds in the first 10 months of the year, against $4bn for the whole of last year, according to figures released this week. It is the highest investment level on record, says the research provider, PitchBook.
The data is being published as part of Silicon Valley Comes to the UK (SVC2UK), an annual series of events that seeks to build relationships between Britain’s entrepreneurs and America’s biggest technology investors.
The numbers were welcomed as a sign that the UK is producing high-quality tech companies, but will stoke concerns about losing control of…