New figures show that US investors are ploughing more money into London companies than ever before.
London Mayor Boris Johnson, who is currently in the US on a trade mission aimed at strengthening economic and ties between London and the US, revealed the figures which have been compiled by London & Partners, the official promotional company for London.
The figures show that US investors ploughed $795.2m into London-based tech firms in 2014, which is double the $296m invested in 2012. Investment from the US into the UK as a whole has also hit a new high of £1.35bn double the amount of $582 in 2012.
“As the digital capital of Europe, London is clearly the place to create fast-growing tech companies, and our flourishing tech sector has caught the eye of US investors. London’s talent is attracting global investment, enabling our innovators to turn their ideas into companies that create jobs and economic growth in London,” said Johnson.
The mayor, who is on a six-day visit to the US, revealed the figures at an event in New York hosted by London & Partners, in association with The Technology is great campaign and Tech City UK. Twenty-two of London’s leading fintech firms are in New York on a trade mission, to pitch to investors in the hope of gaining new deals for London, organised as part of Johnson’s Export Programme.
Gordon Innes, chief executive of London & Partners said: “For international companies expanding and investing overseas, London is their first choice. Over the last decade the city has attracted more HQ investments than Dublin, Paris and Berlin combined, with companies investing more than £4bn and creating over 200,000 jobs in the city.”
Barclays, which already has an accelerator programme in London, took advantage of the initiative by annoucing the launch of their accelerator program in New York this week. The Barclays Accelerator will officially open its doors in New York in July 2015 and will last for 13 weeks. The announcement by Barclays, comes a day after mentorship-driven startup accelerator Techstars, which backs the Barclays Accelerator, also announced the launch of their own programme in Berlin.