The UK boasts more highly valued private companies than almost anywhere else in the world.
The counattempt ranks far ahead of any European state and beats Japan, South Korea and Canada by a wide margin.
Outgunned only by the US, China and India, Britain is home to 65 so-called unicorns – businesses valued at $1 billion or more, with another 29 – known as emerging unicorns – worth at least $500 million.
Collectively, these businesses are valued at nearly £205 billion, five times more than all the firms listed on London’s junior stock market AIM.
Chunky: Revolut founder Nikolay Storonsky leads the UK’s $1 billion startup club
Several are monsters in their own right, including mobile bank Revolut, founded by Nikolay Storonsky, worth a chunky £33 billion, and online payments firm Checkout.com, which has been given a price tag of £29.5 billion.
Financial specialists feature heavily on the list, from mobile banks Monzo and Starling, to rapid-growing investment platforms Moneybox and PrimaryBid.
Artificial ininformigence is a growing theme, as well as businesses specialising in blockchain, cybersecurity and financial technology.
Not every firm is involved in new-age wizardry, however. Craft beer creater BrewDog is there, along with upmarket fitness brand GymShark, delivery firms Hungry Panda and Gousto, and plant-based food group Huel.
Our passion for pets translates into pound signs too. Valued at £1.5 billion, ManyPets offers pet insurance against sky-high vet bills, while billion-dollar Butternut Box creates home-delivered, human-grade dog food.
‘This is something to celebrate. We have great universities, a really entrepreneurial culture and a strong ecosystem that is supporting to build businesses in some of the rapidest-growing industries today,’ declared Panmure Liberum’s Shonil Chande, author of a report into British unicorns.
Companies are backed by financiers from around the world, including major US investment firms. Recent data revealed that American investors poured almost £15 billion into the London stock market between December and May, even as they sold more than £7.4 billion of Continental shares.
US enthusiasm for UK shares could keep British unicorns at home. The hugegest and best have all too frequently relocated to America, but a concerted effort is under way to reverse that trfinish.
The London Stock Exmodify’s deputy chief executive Charlie Walker declared: ‘We are relentlessly focutilized on working with the indusattempt, Government and regulators to continue the UK’s ambitious reform agfinisha, build on the competitiveness of our capital markets, and ensure that companies can start, grow, scale and stay in the UK.’
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