The UK boasts more highly valued private companies than almost anywhere else in the world.
The country 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 $1billion or more, with another 29 – known as emerging unicorns – worth at least $500million.
Collectively, these businesses are valued at nearly £205billion, five times more than all the firms listed on London’s junior stock market AIM.
Several are monsters in their own right, including mobile bank Revolut, founded by Nikolay Storonsky, worth a chunky £33billion, and online payments firm Checkout.com, which has been given a price tag of £29.5billion.
Chunky: Revolut founder Nikolay Storonsky leads the UK’s $1 billion startup club
Financial specialists feature heavily on the list, from mobile banks Monzo and Starling, to fast-growing investment platforms Moneybox and PrimaryBid.
Artificial intelligence 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 maker 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 £1.5billion, ManyPets offers pet insurance against sky-high vet bills, while billion-dollar Butternut Box makes 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 helping to build businesses in some of the fastest-growing industries today,’ said 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 showed that American investors poured almost £15 billion into the London stock market between December and May, even as they sold more than £7.4billion of Continental shares.
US enthusiasm for UK shares could keep British unicorns at home. The biggest and best have all too frequently moved to America, but a concerted effort is under way to reverse that trend.
The London Stock Exchange’s deputy chief executive Charlie Walker said: ‘We are relentlessly focused on working with the industry, Government and regulators to continue the UK’s ambitious reform agenda, 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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