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£850m of funding created for London tech scene in just 6 months

Investment firm DN Capital launched a 120m fund on Tuesday – emphasising the increasing perceived value of the tech scene in the capital.

This fund will be to develop European software, digital media, mobile applications and e-commerce.

“London remains at the epicentre of European venture it is a hub for financing and a source of dynamic startups,” saidNenad Marovac, founder and managing partner of DN Capital.

“We focus on European venture the UK, Germany and the Nordics and a base in London is crucial, but there is no doubt that exciting entrepreneurs are global.”

Funds already set up in the last six months London include those from Index Ventures ($543m), Balderton Capital ($305m), Santander ($100m) and Google Ventures ($100m).

Another firm, Brightbirdge Capital, is set to launch an incubator and reportedly 50.8m investment fund in London later this year, launched by former head of Google Europe, Dan Cobley.

Gordon Innes, CEO of London & Partners, said: Funds based in London have access to the cream of the European technology scene.”

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