The European region is still waiting for its first homegrown tech giant as tech investment in the region still lags the U.S. The FT explores some of the culture and regulations specific to the EU region that may be hamstringing the growth of unicorns.
Mr Mitra’s decision to remain independent comes as more money is flowing into European tech companies than ever before. According to figures from Dow Jones VentureSource, an investment database, funding for the continent’s digital groups almost doubled from $4bn a year to $7.75bn between 2010 and 2014. In the first three months of 2015, companies in the sector raised just over $2.5bn, the highest for any quarter since the start of the decade.' “I really believe it’s a matter of time before Europe produces its great tech company,” says Mark Tluszcz, chief executive of Mangrove, the Luxembourg-based venture capital firm that was an early investor in Skype. “That’s really just a matter of time because it’s no longer a matter of capital.”