The report from researchers Hurun counted 46 unicorns in London, as well as 35 “gazelles” - start-ups since 2000 forecast to reach unicorn status within three years - and 27 “cheetahs” those likely to get to the $1 billion mark within five years.
The study of unicorns and “near unicorns” - start-ups expected to pass the $1 billion valuation threshold in the next few years - ranks London as the fifth biggest centre in the world behind only San Francisco, New York, Shanghai and Beijing.
The report identifies the UK - and London in particular as one of the fastest growing hotspots with the combined value of British unicorns tripling from $54 billion in 2020 to $172 billion in 2024.
According to the Hurun Research Institute gazelles have an average valuation of US$700 million and are mostly growing at an annual rate of about 20% while cheetahs have an average valuation of US$400 million, and are mostly growing at an average rate of 25%.
Hurun chairman and chief researcher Rupert Hoogewerf said: “The UK is the best place in the world for unicorns outside of the US, China and India, showcasing that Britain is a magnet for entrepreneurs from around the world, complimenting the extensive homegrown talent already present in the country.
