London Mayor Boris Johnson will reveal that US venture capital invested $795.2 million into London’s tech industry in 2014 at a speech in New York today.
According to City AM, the brick-wielding British politician will announce the figures showing that American investments accounted for over half the total $1.4 billion investment in London’s tech sector.
Johnson is currently leading a trade mission to the US, aiming to drum up investment in the UK’s capital.
Fintech firm Remitia was the first to secure investment on the trip, forming a strategic partnership with eProcurement firm Elcom International. This taps into a worldwide trend, with Fintech globally raising $6.8 billion in 2014 according to Russian fintech venture capital firm Life.Sreda.
Prominent investments in UK tech have included the recent TransferWise funding round, led by Andreessen-Horowitz. Last month, City law firm Taylor Wessing launched Tech Focus 100, which aims to connect UK tech firms with international funding.
PHOTO: Chris Harvey
