London startups are raising significantly more venture capital, with a new study claiming that money raised in 2014 is double the figure from 2013.
The Financial Times reports that London startups raised a total of $US1.4 billion in venture capital money in 2014. The data comes from a survey commissioned by London & Partners, London’s official promotional company.
A total of $US1.4 billion for venture capital raised is over double the figure raised last year. And it’s over 20 times the amount of VC money raised by London tech startups four years ago.
But things get less impressive when you compare London to the rest of the world. Silicon Valley tech startups raised over $US22 billion in 2014, and New York managed $US1.7 billion in just the third quarter of 2014.
The London & Partners survey also includes data on how London measures up to the rest of the UK when it comes to startups. Unsurprisingly, most of the money raised happens in the capital: London makes up 65% of the UK’s total.
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