Expand chart
Reproduced from Tech Nation; Chart: Axios Visuals

Venture capital funding fell significantly in the U.S. and China last year, but boomed in the U.K., rising to a record $13.2 billion, according to a report prepared for the British government by industry group Tech Nation and research firm Dealroom.

Why it matters: The U.K. saw a significant increase in the number of deals and amount of money pledged by venture capital firms, far outpacing other European economies, with half the total funding coming from firms and investors based in the U.S. and Asia.

Details: U.S. investors including Benchmark, Sequoia and Insight Partners have all invested in U.K. companies in 2019, the report said.

  • London was the fourth most-invested location in the world, trailing the Bay area, Beijing and New York.

But, but, but: While the U.K. saw a significant increase in VC activity and leads European countries in funding, it still badly trails both the U.S. and China in terms of number of deals and total invested.

Go deeper:

Go deeper

Biden: The next president should decide on Ginsburg’s replacement

Joe Biden. Photo: Drew Angerer / Getty Images

Joe Biden is calling for the winner of November's presidential election to select Ruth Bader Ginsburg's replacement on the Supreme Court.

What he's saying: "[L]et me be clear: The voters should pick the president and the president should pick the justice for the Senate to consider," Biden said. "This was the position the Republican Senate took in 2016 when there were almost 10 months to go before the election. That's the position the United States Senate must take today, and the election's only 46 days off.

Trump, McConnell to move fast to replace Ginsburg

Photo: Alex Wong/Getty Images

President Trump will move within days to nominate his third Supreme Court justice in just three-plus short years — and shape the court for literally decades to come, top Republican sources tell Axios.

Driving the news: Senate Majority Leader Mitch McConnell and Senate Republicans are ready to move to confirm Trump's nominee before Election Day, just 46 days away, setting up one of the most consequential periods of our lifetimes, the sources say.

Updated 5 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 10 p.m. ET: 30,393,591 — Total deaths: 950,344— Total recoveries: 20,679,272Map.
  2. U.S.: Total confirmed cases as of 10 p.m. ET: 6,722,699 — Total deaths: 198,484 — Total recoveries: 2,556,465 — Total tests: 92,163,649Map.
  3. Politics: In reversal, CDC again recommends coronavirus testing for asymptomatic people.
  4. Health: Massive USPS face mask operation called off The risks of moving too fast on a vaccine.
  5. Business: Unemployment drop-off reverses course 1 million mortgage-holders fall through safety netHow the pandemic has deepened Boeing's 737 MAX crunch.
  6. Education: At least 42% of school employees are vulnerable.