To celebrate 2019 London Tech Week, the LocalGlobe and Latitude teams hosted a small “New Palo Alto” Briefing” event at our new home, Phoenix Court, right in the heart of Somers Town and the Knowledge Quarter where we gave a brief update on what we’ve been up to in the last year and hosted a conversation on whether this area around Kings Cross can become a new Palo Alto in the next 20 years.

1. Investment generally results in acquiring an asset, also
called an investment. If the asset is available at a price
worth investing, it is normally expected either to
generate income, or to appreciate in value, so that it can
be sold at a higher price invest Investment generally
results.
MEET
OUR CEO
“Can Somers Town be
a New Palo Alto in the
next 20 years?”
#LTW #Futurejobs
@localglobevc
@phxcrt

2. Some of the people in the room….

3. Coffee 1100
0.5C
5
Briefing - Can Somers Town be a New Palo Alto? 1115
Panel & Discussion - Brits Who Know the Valley…. 1145
0.5C
5
0.5C
5
Lunch 1230
0.5C
5
Australia v Pakistan from 2pm
0.5C
5
Amazing Demos from 2pm
0.5C
5
Agenda

4. Welcome to….
The new home of our small team of 18
LocalGlobe Latitude
Phoenix Court

5. Sitting together in one room around one desk, we
support over 150 companies….
40%
Consumer
35%
Enterprise
15%
SMEs
10%
Freelancers
Fashion Finance
Food Health
Mobility
Creative Deep Tech
Security
Space Work
Education
Blockchain Climate
Energy

6. Since 2015 these companies
have raised
>$4bn
in follow-on capital...
…with nearly $700m raised in L12m
by companies invested in since 2015
$290mQ3 2018
$225mQ2 2018
$160mQ1 2018
$147mQ4 2017
$114mQ3 2017
$71mQ2 2017
$43mQ1 2017
$418mQ4 2018
Q1 2019 $691m

7. We’ve raised $450m to support these companies since 2015 -
and we’re now about to start investing new funds
LG4
LG5
$20m
Pre 2015
Seed
$85m
LG7
LG4
LG5
2015
Series A
$9m
$11m
$65m
$9m
$11m
LG8$90m
$175m
LG7
LG4
LG5
$65m
$9m
$11m
LG8$90m
LG7
LG4
LG5
$65m
$9m
$11m
2017
Series B
2019
Series C
LT4$180m
$115m LGx
$470m
$115m for LocalGlobe to
support ambitious
founders at Seed
$180m for Latitude to
keep supporting our
winners at Series B+

8. By 2022, the economic centre of London will
change for the first time in nearly 2000 years…..
City of London -
GVA £46.6bn
Camden & Islington -
GVA £43.4bn

9. Not a surprise given London holds its own with the
US and China in global tech...
Fintech Unicorns by Metro

10. At the same time, London & UK tech are significantly
ahead both Europe & Israel….

11. London is self evidently becoming Silicon Valley for
the Rest of the World….
63%
Seed
61%
Series A+
50%
Late VC
Top 30 Unicorns
Pickers by Stage….

12. But great economic centres aren’t just about
capital, they need…..
Experience
Service Providers
Capital
Talent
Unicorns
X Potential
X-Sector Adoption
Capital
Local Tech Talent
Universities
X Markets
Regional
Capital
Enterprise
Consumer
=
International
Government

13. Palo Alto is one of world’s great economic centres -
20th century Florence or Vatican for tech world...
SFO, San Jose
San Francisco, Oakland, San Jose
$907bn GDP from 9.6m people
#3 #15
Birthplace & home of….
$28bn $750bn $128bn $500bn $10bn

14. What experience is needed to grow a Google, Paypal,
Facebook or Palantir….?
Talent isn’t close to Silicon Valley yet, but it compounds….
Service Providers
Capital
Talent
Unicorns

15. X-Sector Adoption
Capital
Local Tech Talent
Universities
Potential….?
#1 #2 #9 #14 #26
Train Unicorns Tech Jobs
London & Reading 45 650k
Oxbridge 90 mins 10 90k
Manchester 120 mins 5 100k
Leeds 180 mins 2 46k
Edinburgh 240 mins 2 47k
£80bn
by 2028
£3bn£20bn

16. Regional
Capital
Enterprise
Consumer
International
Government
Access to Markets....?
13.7m people
Speaking English + 300 languages
>$125bn annual IT spend within 4hr train journey
153 Forbes 2000 HQs. London (64) & Paris (55)
X-Sector CVC & Innovation activity
>$10bn annual national & local govt IT spend
Enablers (eg Industrial Strategy; Open Data & Banking)
Independent Institutions (eg ODI. Data Ethics etc)
Regulation (eg Online Harms)
<4 hrs by train eg Oxbridge, Manchester, Paris, Amsterdam
+/- 2hrs time zone eg Berlin, Stockholm, Tel Aviv, Nairobi

17. At what rate are we compounding? Palo Alto New Palo Alto
Unicorns 211 150
Unicorn Employees 170k 57k
Venture Investment (2018) $49bn $10bn
4hr Train Cities San Jose
San Fran
Oakland
London (13.7m)
Oxbridge (540k)
Manchester (2.5m)
Birmingham (3.7m)
Bristol (1m)
Paris (12m)
Leeds (2.3m)
Brussels (2.1m)
Edinburgh (750k)
Amsterdam (2.4m)
Top 50 Unis 2 9
Consumers (Pop.) 10m 41m
Forbes 2000 Enterprises 63 153
Enterprise IT Budgets $57bn $128bn
Government DC Whitehall
Elysee
Brussels & EU
Global India China
India
Africa
Capital Markets NYC London
Experience
Potential
Markets

18. Could Somers Town be a new Palo Alto in the next 20 years?
45 mins 90 mins 120 mins 120 mins 150 mins120 mins 150 mins 240 mins

19. Ambition
Capability
Alignment
Proximity
Adoption
Focus
What compounds ecosystems?
Works for Everyone
Mega Corns
Missions
Walk Cycle Train
Works in Cities
Ethics
Works for Me
Smart Capital
Industrial Strategy/UCL
Drive Fly
Works in Suburbs
Exits
Experienced Talent
Zinc/LSE CDL/Oxford

20. Ambition
Capability
Alignment
Proximity
Adoption
Focus
What compounds ecosystems?
Works for Everyone
Mega Corns
Missions
Walk Cycle Train
Works in Cities
Ethics
Works for Me
Smart Capital
Industrial Strategy/UCL
Drive Fly
Works in Suburbs
Exits
Experienced Talent
Zinc/LSE CDL/Oxford
Vote!
http://tiny.cc/ljd47y

21. What compounds ecosystems?
Results
https://admin.typeform.com/form/WSxkQ2/results#summary

22. Panel…. Brits who know the Valley

23. Get to know our team over lunch
and carry on the discussion….
Room Topic
Emma 9 - Oxbridge What Founders Want
George 8 - Paris Proximity
Julia 7 - NYC Future of Health
Julian 2 - Tel Aviv Focus
Mish 3 - Berlin Alignment
Saul Boardroom Adoption
Suzanne Boardroom Ambition
Rachel Event Somers Town
Remus 4 - Stockholm Future of Finance
Robin 8 - Paris Capability
Rose Event Roles We Are Hiring For

24. Before you eat, a quick request - we’re hiring….
Associate Program
Any suggestions: suzanne@localglobe.vc
2 years = + +

25. Before you eat, a quick request - we’re hiring….
Finance Partner
Technology Partner
Phoenix Court Front of House
Any suggestions: julian@localglobe.vc
Any suggestions: mish@localglobe.vc
Any suggestions: rachel@phoenixcourt.co

26. And one more thing…. Newton Program
£100bn

27. Feel free to hang out and watch the cricket in the
afternoon (assuming there’s no rain)….

28. Or see some amazing Practical Science Fiction....
Answer questions faster
than Google...
Friendly robots that love to work
alongside humans….
See 10 years of Bitcoin
processed in 60 minutes…
Sneak peak of Adobe for the
5G generation...
Your voice in any language
(made by a machine)….

29. Appendix

30. 30
UK is home to a huge pool of tech talent, creating benefits for all
Source: Tech Nation 2019; Adzuna, ONS
1 2 3 4 5 6 7 8 9 10 11 12
UK Cluster
Total Digital
Economy Jobs
(2017) Unicorns
% Digital
Economy
jobs
Total Digital
Economy
Job
openings
(2018)
% City Jobs
in Digital
Tech
Median
Salary - all
Tech roles in
Digital
Economy
(2018)
Digital Tech
Salary vs
City Average
Tech Jobs in
all
companies
(2017)
Jobs in
Digital Tech
(2017)
Total
Non-Tech
Jobs in
Digital Tech
companies
(2017)
Non-Tech
Digital as %
of Digital
London 574,562 45 27.36% 915,471 6% £53,296 26.90% 256,082 318,480 62,398 10.86%
Manchester 100,520 5 4.79% 164,043 4% £35,000 2.94% 38,414 9,704 39,154 38.95%
Reading 100,507 4.79% 48,742 33% £40,000 8.11% 25,416 10,258 15,711 15.63%
Belfast 60,041 2.86% 16,853 20% £40,000 17.65% 26,999 24,754 42,101 70.12%
Birmingham 59,131 1 2.82% 75,401 2% £37,500 7.14% 41,550 17,581 23,969 40.54%
Cambridge 52,196 5 2.49% 85,679 50% £39,000 2.63% 69,837 30,683 21,190 40.60%
Bristol 51,753 2 2.46% 86,247 5% £35,520 4.47% 51,071 8,970 2,245 4.34%
Edinburgh 48,118 3 2.29% 44,879 4% £42,500 14.86% 34,742 12,103 28,710 59.67%
Leeds 46,845 2 2.23% 88,042 6% £35,000 9.38% 36,693 15,503 22,639 48.33%
Oxford 37,458 5 1.78% 72,844 25% £36,000 5.88% 25,637 11,821 13,816 36.88%
Newcastle 35,674 1.70% 29,760 11% £35,000 6.06% 42,398 58,109 15,158 42.49%
Sheffield 28,243 1.34% 26,059 2% £32,500 8.33% 21,508 4,640 15,825 56.03%
Cardiff 26,148 1 1.25% 24,923 2% £35,000 6.06% 22,034 6,209 16,868 64.51%
Notes: 2: Total digital economy jobs include both tech and non tech roles in tech companies, and tech roles outside tech companies, like a software developer at Jaguar Land Rover. 3: $1bn valued tech companies in the given cluster. 4: proportion of digital tech
jobs that this city comprises of the UK total 5: total number of advertised jobs through Adzuna’s platform, upweighted to be representative of the volume of jobs recorded for tech by the Office for National Statistics 6: % of jobs in city in Digital Tech 7: the middle
value for salaries for tech roles both in tech companies, and other companies. 8: the difference between salaries for digital tech jobs and other roles in the cluster, where digital tech is on average 10% better paid. 9: tech roles in all companies, such as a software
developer at Monzo, or a data scientist at Jaguar Land Rover. 10: all jobs in digital tech companies, including full stack developers as well as HR professionals, and legal for example. 11: just the non tech roles, such as HR, finance or customer services. 12:The
proportion of non digital tech roles within tech companies by cluster

31. Tech is open, inclusive and growing across the UK
31
Role
Digital
job openings
(2018)
Median
Salary
Cost of living
adjusted –
best place to work
Median salary
(London)
Software Developer 130,158 £39,430 Belfast £55,000
Front End Developer 32,431 £35,286 London £50,000
Project Manager 31,721 £47,500 Glasgow £56,000
Consultant 23,879 £55,000 Sheffield £60,000
Devops Engineer 23,690 £50,500 London £67,500
IT System Architect 17,340 £63,857 Cardiff £77,500
Full Stack Developer 16,753 £40,964 Belfast £55,000
Analyst 10,452 £33,929 Edinburgh £45,000
Python Developer 10,100 £43,893 Glasgow £60,000
Data Engineer 6,950 £35,553 London £60,000
Data Scientist 6,287 £45,714 Leeds £60,000
Source: Tech Nation 2019; Adzuna, Numbeo

32. 32
Manchester: 5
Cambridge: 5
Paris: 9
Stockholm: 9
Amsterdam: 6
Oxford: 5
Munich: 6
Dublin: 2
Edinburgh: 2Leeds: 2
Madrid: 3
Barcelona: 2
Copenhagen: 5

33. 33
London Oxbridge Berlin Paris Amsterdam Manchester Edinburgh Dublin Leeds
Unicorns
created
45 10 10 9 6 5 2 2 2
Population 8.2M 290K 3.6M 2.2M 820K 510K 480K 550K 780K
Investment per
capita
$570 $1,160 $660 $1160 $490 $123 $170 $860 $176
Highest ranked
university
8 1 & 2 62 72 59 54 27 117 139
Number of
accelerators
146 22 42 51 18 10 6 14 10
Aside from London, the UK counts four additional hubs with
at least two unicorns, on par with major European tech cities

34. London is home to the highest density of Big Enterprises

35. From a diverse spread of Industries

38. Somers Town residents include:
● Doris Lessing, Dickens & Wordsworth lived
● Mary Shelley born
● William Godwin lived in 3 places
● Mary Wollstonecraft died

39. The Journey
● Previously occupied by Camden Council, and used as Trade Union
overflow offices
...And the building works were
completed in December 2018
● Signed a lease in October 2017...

40. Designed together with award winning Spanish
architects SelgasCano
FACT! There are approximately:
- 110 plants
- 6000 cable ties
- 4000 meters of data cabling
- 700 meters of LED strip

41. The Ossulston Street Opportunity 2019-2039
● Insight +
● Access
=> Opportunity
● Social Mobility
● Income Inequality

42. What is Latitude?
➔ Series B+
➔ Invests from within and outside of the LocalGlobe companies
➔ $4-7mm initial cheque sizes - not looking to lead rounds
➔ Help shape best possible Series B
➔ Proactive on secondaries
➔ Advisory/practitioner approach - disproportionate impact relative to cheque size