For many TNA members, gaining access to international finance is a key strategy, so the benefits to having closer links with the London Stock Exchange are obvious. In the first half of 2021 alone, tech and consumer internet companies have accounted for 54% of IPO proceeds raised in the UK capital. Over £27bn (€32bn) of equity was raised in H1 2021, making it the busiest Exchange outside the US and Greater China and underlining the city’s enduring popularity in investment circles.
Its broad focus is another attraction to Nordic tech firms who will be watching with special interest the progress of Trustpilot, the Danish tech unicorn which was introduced to the London Stock Exchange earlier this year.
“I look forward to continuing to work with TNA,” says Tamara Gehring, Head of Western Europe and Nordics, Primary Capital Markets, who has been collaborating with TNA since February as a key partner and mentor. “Over 50% of our investor base is international and the public capital markets in London cater to companies of all sizes and stages, something which many founders are not aware of. We have very large companies on our markets; however, we also have plenty of listings in the lower to mid-teens in terms of market capitalisation,” she adds.
Sustainability in focus
For the London Stock Exchange, the fact that the Nordic and Baltic regions have both a successful track record and a solid reputation for innovation makes them areas of particular interest. And with COP26 just around the corner, their reputation in sustainability issues also flags them as an attractive investment proposition.
“This is closely aligned to the London Stock Exchange,” says Gehring. “Our Green Economy Mark, which recognises London Stock Exchange issuers that generate more than 50% of revenues from products and services contributing to the green economy, enables investors to distinguish opportunities clearly and companies to clearly communicate their progress in the green space.”
To have the London Stock Exchange involved not only boosts the reach of companies in the Nordics and Baltics but also emphasizes the growing influence of the Tech Nordic Advocates network.
“Getting the London Stock Exchange onboard was a major breakthrough in terms of attracting more investment from outside the region as well as within. About 90% of venture investment into the Nordics comes from the region itself, with very little from Asia and other parts of the world. It sends a message that the London Stock Exchange goes hunting in the Nordics for their next IPOs,” says Jeanette Carlsson, Founder and CEO, Tech Nordic Advocates.
Along with helping companies find investment as part of the tie-up, Tamara Gehring also focuses on helping the development and growth of female entrepreneurship. The latest move represents an extension of the London Stock Exchange’s growing partnership with TNA and Gehring in particular.
“We are focusing on empowering women entrepreneurs but also on supporting the growth of the whole funding ecosystem in the Nordics. Hopefully we can help many more companies in the next stages of their growth through London’s public markets,” says Gehring, who already acts as a business school tutor and has been extensively involved as a mentor in TNA’s Women-in-Tech (WiT) growth support programme. Alongside other national and international investors she will also sit on the steering group of one of the modules in the WiT programme that launches in January, committed to investing in tech businesses founded and led by women.
“It’s a diverse, well executed program with leading international experts in their field supporting a talented and dynamic group of entrepreneurs,” Gehring says. It offers a fantastic network across the ecosystem in the UK and the Nordics. Both from a business and personal perspective, in the international mentorship program, it has been great to see the huge developments by these entrepreneurs since they began the programme.”
Tamara Gehring at the 22nd September Tech Nordic Advocates event at Copenhagen City Hall. Credit: Katherine Heller, Photographer