The London Co-Investment Fund (LCIF), launched in 2015 and backed by the Mayor of London’s office, has revealed that, together with partners, it has invested £100 million into the capital’s startup businesses.
The announcement comes as the early-stage London tech fund reveals that it has just hit 100 investments, 50 of which are tech companies.
“These 100 investments have supported London’s thriving tech sector and enabled many innovative entrepreneurs to make their ideas a reality, creating almost 1,000 new jobs and safeguarding more than 300,” said deputy mayor for business Rajesh Agrawal.
“This fantastic milestone shows that London is open for business and continues to attract investment.”
Beavis Morgan – Advisers to UK tech startups
Being centrally located within walking distance of ‘silicon roundabout’, our technology business experts at Beavis Morgan work with many entrepreneurial businesses in the tech sector, helping them set up and run their own businesses and guiding them through each stage of the process, whilst navigating the challenges and advising them in making the right decisions both now and for the future.
We also understand that whether you’re a start up or a well-established business, cash is king and managing its flow is crucial to your immediate and long-term success. That’s why our independent finance brokerage, BM Structured Finance, is readily available to assist startups source the right funding for their individual needs.
What’s more, the government’s Research & Development (R&D) tax credit scheme is essential in encouraging innovation and increased spending on research and development activities by companies operating in the UK.
If you would like to know more about how we can help you and your business, or to find out how we can assist in maximising the value of any potential R&D claim and manage the often-complex process on your behalf, contact Steve Govey or your usual Beavis Morgan Partner.
Read more: Research & Development Tax Credits for SMEs: Money back for investing in innovation