Woodford: UK 'appallingly bad' at supporting tech start-ups

Do not receive the funding required to grow

Neil Woodford has criticised UK investors for being too short-termist on tech start-ups, claiming they have been "appallingly bad" at giving them the long-term capital needed.

The manager said investors need to take a long-term view when backing new tech start-ups as they are not receiving the funding they require to grow. He told the BBC: "We have been appallingly bad at giving those minnows the long-term capital they need." Woodford (pictured) said the capital provision problem which has not allowed home-grown tech entrepreneurs to turn promising start-ups into leading global companies, has also led to them selling their businesses too early. He told the BBC: "The limited number of success stories we have had in the UK have generally sold out too early...