London was top destination for tech funding in 2017 PitchBook

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London was top destination for tech funding in 2017 PitchBook.
LONDON (Reuters) - London was the top city in Europe for technology investment last year, with more funding going into companies in the British capital than into firms based in Paris, Berlin and the next seven cities combined, data showed on Friday.

Tech firms in London attracted 2.45 billion pounds ($3.3 billion) in venture capital funding in 2017, about 80 percent of the 2.99 billion pounds invested in Britain as a whole, according to data compiled by funding database PitchBook for London & Partners.

Eileen Burbidge, partner at Passion Capital, said it was no surprise to see London - and Britain - leading the pack because it has both the talent and investor capital needed.

“It’s a testament to our exceptional entrepreneurs that the UK tech sector continues to produce companies that are leading in the development of cutting edge technologies such as artificial intelligence and fintech,” she said.



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London was top destination for tech funding in 2017 PitchBook