Hoggett: UK creates more unicorns than any country besides US and China
Julia Hoggett · Julia Hoggett, CEO @ LSEG plc: The Myths and the Reality of The London Stock Exchange · 20VC with Harry Stebbings · Mar 28, 2025 · at 2:17
Julia Hoggett, CEO of the London Stock Exchange Group (LSEG), discusses the competitive strengths of the UK tech ecosystem on 20VC.
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“We create more unicorns than anywhere outside the US and China, and we're a world leading capital market by any measure.”
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More from Julia Hoggett
Hoggett: Most UK companies listing in the US perform poorly or delist
“In the last 10 years, only 20 UK companies have listed in the US that have raised over a hundred million. Of those, nine have already delisted, only four are trading up and the rest are trading down by over 80%.”
Hoggett: $10B to $20B companies risk getting lost in US markets
“Increasingly if you are absolutely, if you are a 10 to twenty billion company, don't go to the U.S. Because you'll get lost.”
Hoggett: London market would have valued Arm's AI growth equally
“AI trade, which I'm utterly convinced would have happened in London as much as it happened anywhere else. I don't think, I think it's a, you can't prove a negative, but I think it's a falsity to say a London market wouldn't have valued that the same way.”
Hoggett: Prescriptive ESG reporting perversely favors extractive industries over green startups
“And there have been places where over-regulating these things has actually produced perverse outcomes, where investors are incentivized to invest in big extractive industries, for example, rather than medium-sized, scaling, green economy companies, because one…”
Hoggett: UK stamp duty perversely taxes domestic stock investments over foreign ones
“Stamp duty is a perversity in the UK. We charge people to invest in UK stocks, but we don't charge them to invest in US stocks or European stocks.”
Hoggett: UK growth rivaled top nations when pensions backed risk capital
“We used to have behemothic pension funds that invested a huge amount of their assets in driving risk capital into our economy, and when we did, our growth rates were as high as anywhere else in the world, and our capital markets were as vibrant as anywhere els…”