Record $19 Billion of Investment Suggests Europe Tech Is Doing Fine
Traffic passes around the Old Street roundabout, also referred to as 'Silicon Roundabout,' in the area known as 'Tech City' at dusk in London.
Photographer: Chris Ratcliffe/Bloomberg
European startups are on pace to collect a record $19 billion from investors this year, despite concerns the U.K.'s departure from the European Union will weigh on the region's technology industry, according to an annual report by the London-based venture capital firm Atomico.
The U.K. remains the largest destination for capital invested in Europe, with $5.4 billion year to date, according to the report. Germany follows with $2.5 billion and then France at $2.1 billion. The U.K. also held on to its spot as No. 1 destination for skilled tech workers to migrate to within Europe, but ceded some of its share to France and Germany compared with previous years.