Not everyone has resigned yet 🇬🇧
local news 📰
🏦 The billion-dollar club is alive and well in the UK, as startups raised an impressive $9 billion in the first quarter of 2022.
The U.K. capital has seen just a handful of tech IPOs this year, including the $1.1 billion floats of money-transfer app TransferWise was valued at $3.5 billion and the $874 million debut of German e-commerce platform Delivery Hero. But the public market is not keeping pace with the private one. London has seen $25.5 billion in unlisted tech investments so far this year, according to data compiled by PitchBook, more than any other European city. In the U.S., the figure is $78.4 billion.
Investors appear to be favouring SaaS over e-commerce as the downturn worsens.
In the second quarter, VCs invested in 211 e-commerce startups, a decrease from the 330 startups they invested in the previous quarter. This decrease is 36%. Similarly, venture capitalists participated in nearly 30% fewer enterprise SaaS deals over the same period.
twitter spotlight 🔦
One of the biggest mistakes investors make when investing at seed:
99% of the time it does not exist on Day 1.
It is built over time in the processes, techniques and team that you acquire.
Understand how they build it, not what they have today.
— Harry Stebbings (@HarryStebbings)
Jun 21, 2022
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