Hello and welcome to the Week in Tech, your weekly roundup of the top technology news stories from across the globe.
This week, we bring you the latest UK tech investment news, Draper Esprit’s staggering raise, the implications for European tech startups and more.
VC firm Draper Esprit raises £176m
Draper Esprit, a European technology VC firm, has raised £176m to boost the European tech startup scence.
The raise was made through the firm’s Bookbuild. It will be used to invest in early and growth-stage digital technology businesses across Europe in the consumer technology, enterprise technology, hardware and healthcare sectors, as well as some Series A rounds and beyond.
Draper IPO’d in June 2016 and has funded over 25 new businesses and grown their gross portfolio value by 209%, to a total of £243.5m. ...