The UK founder is unhappy with the lack of funds: “The problem is getting worse.”

According to dealroom data Quote by Financial Timesthe British startup raised just £16.2 billion last year. That’s well below the £65 billion raised by Silicon Valley counterparts around the same time. In fact, the US appears to be moving even further each year. In 2024, 57% of global venture capital funds went to US startups. Its share has been over 50% for the first time for over 10 years.

This widening gap is part of a long-standing trend that UK founders have focused on FT reports, prompting many to consider moving abroad.

“Recognizing that most venture funds come from the US, we were founded as Delaware, a well-known structure that is favorable to American investors,” said Mati Staniszewski, co-founder of London-based AI company ElevenLabs, in an interview with FT.

Barney Hussey-Yeo, founder and CEO of AI startup Cleo, told FT that he has already spent four months in San Francisco a year and is seriously considering a permanent move. “We’re reaching a certain size where the UK has no capital and the problems are getting worse,” he said. “To be honest, if the UK doesn’t deal with it, it’s a bit f***d (issue).”